true
Kirklands Business Solutions Limited
SC229764
2014-10-31
122122
78732
122222
78832
100
100
122222
78832
122222
78832
119885
76567
45412
33970
165297
110537
127680
95754
37617
14783
2337
2265
2337
2265
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 April 2008).
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
21889
20002
1887
19552
17737
1815
21889
20002
1887
19552
17737
1815
Ordinary
100
1
100
100
Ordinary
1
100
100
100
The company pays a management charge to Kirklands Law Limited (KLL), an
associated company in which Mr Gibson is a director and shareholder. The management
charge paid to KLL for the year was £10,000 (2013 - £8,000).
The company charges for book-keeping and support services supplied to the
Falkirk office of Kirklands Law Limited, an associated company. The charge
for the year was £7,866 (2013 - £7,988).
The company owed £500 to KLL as at 31 October 2014 (2013 - £500). This loan
is interest free and has no fixed terms for repayment.
The company has made loans to E J G Properties Ltd. Mrs E J Gibson, director and shareholder of
Kirklands Business Solutions Ltd, is also sole director and shareholder of E J G Properties Ltd.
Interest is charged annually on this loan at 5% per annum calculated on the average balance
borrowed and is credited to the loan balance outstanding. Interest charged for the year was
£3,340 (2013 - £2,896). There is no fixed term for repayment. The balance on the loan to E J G
Properties Ltd as at 31 October 2014 was £77,127 (2013 - £66,791).
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 £107,491 (including £3,110 accrued at 31 October 2013) to Artl Limited, representing 100% of the qualifying income.
KBS charged Artl Limited a transactional handling fee of £35,827 to cover software support and marketing.
The company also charged Artl Limited £25,000 for work on the re-writing of the software
to make it compatible with recent changes in web based technology and the increasingly mobile market place.
At 31 October 2014, the net amount owed by Artl Limited to KBS on these normal trading transactions was £5,937.
In the prior year, the software was owned by the S.O.S. Software, a partnership in which Mr and
Mrs Gibson, directors, each had a quarter share. Royalties of £52,825, representing 2/3 of
qualifying sales, were paid to the S.O.S Software partnership in the year ended 31 October 2013.
The company owed Mr Gibson £113 as at 31 October 2014 (2013 - £113). This loan is interest free
and has no fixed terms for repayment.
2015-07-17
Mr G M Gibson
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Kirklands Business Solutions Limited
2013-11-01
2014-10-31
Kirklands Business Solutions Limited
2012-11-01
2013-10-31
Kirklands Business Solutions Limited
2012-10-31
Kirklands Business Solutions Limited
2013-10-31
Kirklands Business Solutions Limited
2013-10-31
Kirklands Business Solutions Limited
2014-10-31
2015-07-21