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REGISTERED NUMBER: SC252339 (Scotland)






































Kelso Wholefoods Limited

Unaudited Financial Statements

for the Year Ended 31st July 2023






Kelso Wholefoods Limited (Registered number: SC252339)






Contents of the Financial Statements
for the year ended 31st July 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Kelso Wholefoods Limited

Company Information
for the year ended 31st July 2023







Directors: Mrs P M Dagg
Mrs C A Oliver
Mrs I J Ford





Secretary: Mrs C A Oliver





Registered office: 54 Woodmarket
Kelso
Roxburghshire
TD5 7AX





Registered number: SC252339 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Kelso Wholefoods Limited (Registered number: SC252339)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 4,653 5,171

Current assets
Stocks 12,363 12,047
Debtors 5 394 460
Cash at bank and in hand 7,061 10,525
19,818 23,032
Creditors
Amounts falling due within one year 6 8,484 5,585
Net current assets 11,334 17,447
Total assets less current liabilities 15,987 22,618

Provisions for liabilities 884 982
Net assets 15,103 21,636

Capital and reserves
Called up share capital 100 100
Retained earnings 15,003 21,536
Shareholders' funds 15,103 21,636

Kelso Wholefoods Limited (Registered number: SC252339)

Balance Sheet - continued
31st July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th November 2023 and were signed on its behalf by:




Mrs P M Dagg - Director



Mrs C A Oliver - Director


Kelso Wholefoods Limited (Registered number: SC252339)

Notes to the Financial Statements
for the year ended 31st July 2023

1. Statutory information

Kelso Wholefoods Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade creditors and directors' loans.

Directors' loans (being repayable on demand) trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Kelso Wholefoods Limited (Registered number: SC252339)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a period of 12 months from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 4 ) .

4. Tangible fixed assets
Fixtures
and
Equipment fittings Totals
£    £    £   
Cost
At 1st August 2022
and 31st July 2023 3,931 17,868 21,799
Depreciation
At 1st August 2022 2,996 13,632 16,628
Charge for year 94 424 518
At 31st July 2023 3,090 14,056 17,146
Net book value
At 31st July 2023 841 3,812 4,653
At 31st July 2022 935 4,236 5,171

Kelso Wholefoods Limited (Registered number: SC252339)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 394 460

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 4,800 3,060
Taxation and social security - 1,623
Other creditors 3,684 902
8,484 5,585

7. Post balance sheet events

Since the year end, on 3rd November 2023, a final dividend for the year ended 31st July 2023 of £29,4118 per share has been declared.