Silverfin false false 30/06/2023 01/07/2022 30/06/2023 Mr D Flynn 22/06/2015 Miss V Flynn 22/06/2015 09 February 2024 The principal activity of the Company during the financial year is that of fitting, repairing and retailing saddles and related items. SC509028 2023-06-30 SC509028 bus:Director1 2023-06-30 SC509028 bus:Director2 2023-06-30 SC509028 2022-06-30 SC509028 core:CurrentFinancialInstruments 2023-06-30 SC509028 core:CurrentFinancialInstruments 2022-06-30 SC509028 core:ShareCapital 2023-06-30 SC509028 core:ShareCapital 2022-06-30 SC509028 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC509028 core:RetainedEarningsAccumulatedLosses 2022-06-30 SC509028 core:OtherPropertyPlantEquipment 2022-06-30 SC509028 core:OtherPropertyPlantEquipment 2023-06-30 SC509028 2021-06-30 SC509028 bus:OrdinaryShareClass1 2023-06-30 SC509028 2022-07-01 2023-06-30 SC509028 bus:FilletedAccounts 2022-07-01 2023-06-30 SC509028 bus:SmallEntities 2022-07-01 2023-06-30 SC509028 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC509028 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC509028 bus:Director1 2022-07-01 2023-06-30 SC509028 bus:Director2 2022-07-01 2023-06-30 SC509028 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-07-01 2023-06-30 SC509028 2021-07-01 2022-06-30 SC509028 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 SC509028 1 2022-07-01 2023-06-30 SC509028 1 2021-07-01 2022-06-30 SC509028 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC509028 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC509028 (Scotland)

KEDLOCK HOUSE SADDLERS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH THE REGISTRAR

KEDLOCK HOUSE SADDLERS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023

Contents

KEDLOCK HOUSE SADDLERS LTD

BALANCE SHEET

AS AT 30 JUNE 2023
KEDLOCK HOUSE SADDLERS LTD

BALANCE SHEET (continued)

AS AT 30 JUNE 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 75 150
75 150
Current assets
Stocks 4 78,229 78,925
Debtors 5 3,111 2,560
Cash at bank and in hand 6 12,891 10,572
94,231 92,057
Creditors: amounts falling due within one year 7 ( 35,237) ( 39,836)
Net current assets 58,994 52,221
Total assets less current liabilities 59,069 52,371
Provision for liabilities 8, 9 ( 19) ( 38)
Net assets 59,050 52,333
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 58,950 52,233
Total shareholder's funds 59,050 52,333

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Kedlock House Saddlers Ltd (registered number: SC509028) were approved and authorised for issue by the Director on 09 February 2024. They were signed on its behalf by:

Miss V Flynn
Director
KEDLOCK HOUSE SADDLERS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
KEDLOCK HOUSE SADDLERS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 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

Kedlock House Saddlers 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 Kedlock House, Cupar, KY15 4PY, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of goods and services.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

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

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and 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 debtors and cash and 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.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2022 2,275 2,275
At 30 June 2023 2,275 2,275
Accumulated depreciation
At 01 July 2022 2,125 2,125
Charge for the financial year 75 75
At 30 June 2023 2,200 2,200
Net book value
At 30 June 2023 75 75
At 30 June 2022 150 150

4. Stocks

2023 2022
£ £
Stocks 78,229 78,925

5. Debtors

2023 2022
£ £
Trade debtors 2,820 2,560
Other debtors 291 0
3,111 2,560

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 12,891 10,572

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,352 585
Taxation and social security 1,589 1,725
Other creditors 31,296 37,526
35,237 39,836

8. Provision for liabilities

2023 2022
£ £
Deferred tax 19 38

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 38) ( 43)
Credited to the Profit and Loss Account 19 5
0 0
At the end of financial year ( 19) ( 38)

10. Called-up share capital

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

11. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to Director 29,795 36,109

The above loan is unsecured, interest free and has no fixed terms of repayment.