Silverfin false 31/03/2023 01/04/2022 31/03/2023 John Fraser 26/11/2015 09 October 2023 The principal activity of the company during the financial year was that of property development. SC521229 2023-03-31 SC521229 bus:Director1 2023-03-31 SC521229 2022-03-31 SC521229 core:CurrentFinancialInstruments 2023-03-31 SC521229 core:CurrentFinancialInstruments 2022-03-31 SC521229 core:ShareCapital 2023-03-31 SC521229 core:ShareCapital 2022-03-31 SC521229 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC521229 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC521229 core:LandBuildings 2022-03-31 SC521229 core:ComputerEquipment 2022-03-31 SC521229 core:LandBuildings 2023-03-31 SC521229 core:ComputerEquipment 2023-03-31 SC521229 core:CostValuation 2022-03-31 SC521229 core:AdditionsToInvestments 2023-03-31 SC521229 core:DisposalsRepaymentsInvestments 2023-03-31 SC521229 core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 SC521229 core:CostValuation 2023-03-31 SC521229 core:ProvisionsForImpairmentInvestments 2022-03-31 SC521229 core:ProvisionsForImpairmentInvestments 2023-03-31 SC521229 bus:OrdinaryShareClass1 2023-03-31 SC521229 2022-04-01 2023-03-31 SC521229 bus:FullAccounts 2022-04-01 2023-03-31 SC521229 bus:SmallEntities 2022-04-01 2023-03-31 SC521229 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC521229 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC521229 bus:Director1 2022-04-01 2023-03-31 SC521229 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC521229 2021-04-01 2022-03-31 SC521229 core:LandBuildings 2022-04-01 2023-03-31 SC521229 core:ComputerEquipment 2022-04-01 2023-03-31 SC521229 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC521229 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC521229 (Scotland)

KILMORE ESTATE LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

KILMORE ESTATE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

KILMORE ESTATE LTD

BALANCE SHEET

AS AT 31 MARCH 2023
KILMORE ESTATE LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 578,780 499,643
Investments 4 52,059 104,074
630,839 603,717
Current assets
Debtors 5 0 12,231
Cash at bank and in hand 75,385 83,771
75,385 96,002
Creditors: amounts falling due within one year 6 ( 140,135) ( 134,092)
Net current liabilities (64,750) (38,090)
Total assets less current liabilities 566,089 565,627
Net assets 566,089 565,627
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 565,989 565,527
Total shareholders' funds 566,089 565,627

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Kilmore Estate Ltd (registered number: SC521229) were approved and authorised for issue by the Director on 09 October 2023. They were signed on its behalf by:

John Fraser
Director
KILMORE ESTATE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
KILMORE ESTATE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kilmore Estate Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is The Moorings, Allanfearn, Inverness, IV2 7HY, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Computer equipment 3 years straight line
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Fixed asset investments

Investments are recognised at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Computer equipment Total
£ £ £
Cost
At 01 April 2022 499,643 508 500,151
Additions 79,137 0 79,137
At 31 March 2023 578,780 508 579,288
Accumulated depreciation
At 01 April 2022 0 508 508
At 31 March 2023 0 508 508
Net book value
At 31 March 2023 578,780 0 578,780
At 31 March 2022 499,643 0 499,643

Included within the above is land at the carrying value of £578,780 (2022 - £499,643) which is not depreciated.

4. Fixed asset investments

Listed investments Other investments Total
£ £ £
Carrying value before impairment
At 01 April 2022 104,024 50 104,074
Additions 5,576 0 5,576
Disposals ( 70,202) 0 ( 70,202)
Movement in fair value 12,611 0 12,611
At 31 March 2023 52,009 50 52,059
Provisions for impairment
At 01 April 2022 0 0 0
At 31 March 2023 0 0 0
Carrying value at 31 March 2023 52,009 50 52,059
Carrying value at 31 March 2022 104,024 50 104,074

5. Debtors

2023 2022
£ £
Other debtors 0 12,231

6. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 140,135 134,092

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts owed to director 136,999 130,957