true
Kirklands Business Solutions Limited
SC229764
2016-10-31
185868
128004
185968
128104
100
100
185968
128104
185968
128104
183476
125775
80268
35079
263744
160854
263744
129152
0
31702
2492
2329
2492
2329
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents the invoiced value of goods sold and services provided during the period, stated net of Value Added Tax.
Sales of goods are recognised when the company has delivered goods to the customer, the customer has accepted the products, and collectability of the related receivables is reasonably assured.
Service revenues are recognised as those services are provided to customers.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Plant & Machinery
Straight line
0.2500
Equipment & Fittings
Reducing balance
0.1500
24804
23401
1403
22312
21072
1240
24804
23401
1403
22312
21072
1240
Ordinary
100
1
100
100
Ordinary
1
100
100
100
The company paid a management charge of £10,000 (2015 - £10,000) to cover its share of
overheads to Kirklands Law Limited (KLL) , an associated company in which Mr Gibson is
also a director and shareholder.
The company charged £11,886 (2015 - £9,030) for book-keeping and support services
supplied to the Falkirk office of KLL, an associated company.
The company owed £800 to KLL as at 31 October 2016 (2015 - £800). This amount
is interest free and has no fixed terms for repayment.
E J G Properties Ltd (EJGP) owed the company £179,042 at 31 October 2016 (2015 - £87,954. The increase in the loan balance followed an agreement on 29th July 2016 with Mrs E J Gibson for her to postpone the balance owed to her by EJGP in return for a further advance to that company. As a result of the postponement, the loan is now fully covered by the underlying assets in EJGP. Up until 29 July 2016, interest was charged annually on this loan at 5% per annum, calculated on the average balance borrowed, and credited to the loan. Interest charged for the year was £4,836 (2015 - £3,831). With effect from 29th July 2016, no further interest will be charged, the same terms as Mrs E J Gibson's loan to that company. Mrs
E J Gibson, director and shareholder of Kirklands Business Solutions Ltd, is also a director
of and sole shareholder in EJGP.
The company has an agreement with Artl Limited, a company in which Mr and Mrs Gibson are
directors and each own 1/4 of the voting shares issued, to sell its software. During the year
the company paid royalties of £94,240 (2015 - £98,298) to Artl Limited, representing 100% of
the qualifying income. KBS charged Artl Limited a transactional handling fee of £31,474
(2015 - £32,767) to cover software support and marketing.
At 31 October 2016, the net amount owed to Artl Limited by KBS on these normal trading
transactions was £13,641 (2015 - £13,625).
Artl Limited, a related business, contracted KBS to carry out research and development on various aspects of its Anti Money Laundering compliance software. At 31 October 2016, debtors includes£22,083 in relation to work in progress on these matters.
Mr and Mrs Gibson, directors, were owed £4,100 (2015 - £113) at 31 October 2016 . This loan
is interest free and has no fixed terms for repayment.
2017-07-20
Mr G M Gibson
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Kirklands Business Solutions Limited
2015-11-01
2016-10-31
Kirklands Business Solutions Limited
2014-11-01
2015-10-31
Kirklands Business Solutions Limited
2014-10-31
Kirklands Business Solutions Limited
2015-10-31
Kirklands Business Solutions Limited
2015-10-31
Kirklands Business Solutions Limited
2016-10-31
2017-07-27