true
Kirklands Business Solutions Limited
SC229764
2015-10-31
128004
122122
128104
122222
100
100
128104
122222
128104
122222
125775
119885
35079
45412
160854
165297
129152
127680
31702
37617
2329
2337
2329
2337
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
23401
21889
1512
21072
19552
1520
23401
21889
1512
21072
19552
1520
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 (2014 - £10,000).
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 £9,030 (2014 - £7,866).
The company owed £500 to KLL as at 31 October 2015 (2014 - £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 £3,831 (2014 - £3,340). There is no fixed term for repayment. The balance on
the loan to E J G Properties Ltd as at 31 October 2015 was £87,954 (2014 - £77,127).
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 £98,298 (2014 - £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 £32,767 (2014 - £35,827) to cover software support and
marketing.
The company also charged Artl Limited nil (2014 - £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 2015, the net amount owed to Artl Limited by KBS on these normal trading
transactions was £13,625 (2014 - £5,937 owed by Artl).
The company owed Mr Gibson £113 at 31 October 2015 (2014 - £113). This loan is interest free
and has no fixed terms for repayment.
2016-05-31
Mr G M Gibson
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Kirklands Business Solutions Limited
2014-11-01
2015-10-31
Kirklands Business Solutions Limited
2013-11-01
2014-10-31
Kirklands Business Solutions Limited
2013-10-31
Kirklands Business Solutions Limited
2014-10-31
Kirklands Business Solutions Limited
2014-10-31
Kirklands Business Solutions Limited
2015-10-31
2016-06-13