IRIS Accounts Production v24.1.0.578 SC180317 Board of Directors 1.11.22 31.10.23 31.10.23 The principal activity of the company in the year under review was that of the operation of service stations. true false true true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1803172022-10-31SC1803172023-10-31SC1803172022-11-012023-10-31SC1803172021-10-31SC1803172021-11-012022-10-31SC1803172022-10-31SC180317ns15:Scotland2022-11-012023-10-31SC180317ns14:PoundSterling2022-11-012023-10-31SC180317ns10:Director12022-11-012023-10-31SC180317ns10:PrivateLimitedCompanyLtd2022-11-012023-10-31SC180317ns10:FRS1022022-11-012023-10-31SC180317ns10:Audited2022-11-012023-10-31SC180317ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-11-012023-10-31SC180317ns10:LargeMedium-sizedCompaniesRegimeForAccounts2022-11-012023-10-31SC180317ns10:FullAccounts2022-11-012023-10-31SC180317ns10:OrdinaryShareClass12022-11-012023-10-31SC180317ns10:Director22022-11-012023-10-31SC180317ns10:CompanySecretary12022-11-012023-10-31SC180317ns10:RegisteredOffice2022-11-012023-10-31SC180317ns5:CurrentFinancialInstruments2023-10-31SC180317ns5:CurrentFinancialInstruments2022-10-31SC180317ns5:ShareCapital2023-10-31SC180317ns5:ShareCapital2022-10-31SC180317ns5:CapitalRedemptionReserve2023-10-31SC180317ns5:CapitalRedemptionReserve2022-10-31SC180317ns5:RetainedEarningsAccumulatedLosses2023-10-31SC180317ns5:RetainedEarningsAccumulatedLosses2022-10-31SC180317ns5:ShareCapital2021-10-31SC180317ns5:RetainedEarningsAccumulatedLosses2021-10-31SC180317ns5:CapitalRedemptionReserve2021-10-31SC180317ns5:RetainedEarningsAccumulatedLosses2021-11-012022-10-31SC180317ns5:CapitalRedemptionReserve2021-11-012022-10-31SC180317ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-31SC180317ns5:CapitalRedemptionReserve2022-11-012023-10-31SC180317ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-11-012023-10-31SC180317ns5:LeaseholdImprovements2022-11-012023-10-31SC180317ns5:PlantMachinery2022-11-012023-10-31SC180317ns5:MotorVehicles2022-11-012023-10-31SC180317ns5:OwnedAssets2022-11-012023-10-31SC180317ns5:OwnedAssets2021-11-012022-10-31SC180317ns10:OrdinaryShareClass12021-11-012022-10-31SC180317ns5:LandBuildings2022-10-31SC180317ns5:LeaseholdImprovements2022-10-31SC180317ns5:PlantMachinery2022-10-31SC180317ns5:MotorVehicles2022-10-31SC180317ns5:LandBuildings2022-11-012023-10-31SC180317ns5:LandBuildings2023-10-31SC180317ns5:LeaseholdImprovements2023-10-31SC180317ns5:PlantMachinery2023-10-31SC180317ns5:MotorVehicles2023-10-31SC180317ns5:LandBuildings2022-10-31SC180317ns5:LeaseholdImprovements2022-10-31SC180317ns5:PlantMachinery2022-10-31SC180317ns5:MotorVehicles2022-10-31SC180317ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-31SC180317ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31SC180317ns5:DeferredTaxation2022-10-31SC180317ns5:DeferredTaxation2022-11-012023-10-31SC180317ns5:DeferredTaxation2023-10-31SC180317ns10:OrdinaryShareClass12023-10-31
REGISTERED NUMBER: SC180317 (Scotland)












Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 October 2023

for

Kessock Service Station Limited

Kessock Service Station Limited (Registered number: SC180317)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Kessock Service Station Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs P Simpson
J Simpson





SECRETARY: Mrs P Simpson





REGISTERED OFFICE: Kessock Service Station
South Road
Fraserburgh
Aberdeenshire
AB43 8TJ





REGISTERED NUMBER: SC180317 (Scotland)





AUDITORS: O'Haras Accountants Limited
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Kessock Service Station Limited (Registered number: SC180317)

Strategic Report
for the Year Ended 31 October 2023

The directors present their strategic report for the year ended 31 October 2023.

REVIEW OF BUSINESS
The company experienced a positive improvement in all categories of sales income during the course of the year, with turnover increasing overall by 8%. The gross profit percentage increased to 9.83% from the prior year's level of 8.11%. Operating profits have improved satisfactorily, largely as a result of an improvement to retail sales.

PRINCIPAL RISKS AND UNCERTAINTIES
The business performed satisfactorily in 2023. The directors are however always conscious of the risks and uncertainties facing the business and are vigilant with a view to ensuring that the risks are dealt with at the earliest possible time.

ON BEHALF OF THE BOARD:





Mrs P Simpson - Director


26 July 2024

Kessock Service Station Limited (Registered number: SC180317)

Report of the Directors
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the company for the year ended 31 October 2023.

DIVIDENDS
An interim dividend of £0.4082 per share was paid on 24 July 2023. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 October 2023 will be £ 100,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

Mrs P Simpson
J Simpson

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, O'Haras Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs P Simpson - Director


26 July 2024

Report of the Independent Auditors to the Members of
Kessock Service Station Limited

Opinion
We have audited the financial statements of Kessock Service Station Limited (the 'company') for the year ended 31 October 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Kessock Service Station Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates. We made enquiries of management as to whether there were any known or suspected instances of non-compliance with laws and regulations or fraud, and reviewed available board minutes for any indication of such matters.

- We gained an understanding of management's internal controls designed to prevent and detect irregularities in their day-to-day operations.

- We considered laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement components. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of relevant third parties.

- We considered how fraud might occur in this company and designed our tests accordingly.

- As in all audits, we also addressed the risk of management override of internal controls, including reviewing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Kessock Service Station Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




John O'Hara CA (Senior Statutory Auditor)
for and on behalf of O'Haras Accountants Limited
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

26 July 2024

Kessock Service Station Limited (Registered number: SC180317)

Income Statement
for the Year Ended 31 October 2023

2023 2022
Notes £    £   

REVENUE 31,450,821 29,000,250

Cost of sales 28,358,330 26,648,594
GROSS PROFIT 3,092,491 2,351,656

Administrative expenses 1,450,107 1,112,492
1,642,384 1,239,164

Other operating income 307,809 264,386
OPERATING PROFIT 4 1,950,193 1,503,550

Interest receivable and similar income 51,878 2,225
PROFIT BEFORE TAXATION 2,002,071 1,505,775

Tax on profit 5 439,691 477,706
PROFIT FOR THE FINANCIAL YEAR 1,562,380 1,028,069

Kessock Service Station Limited (Registered number: SC180317)

Other Comprehensive Income
for the Year Ended 31 October 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,562,380 1,028,069


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,562,380

1,028,069

Kessock Service Station Limited (Registered number: SC180317)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 7 3,452,075 3,001,598
Investment property 8 5,677,122 4,883,615
9,129,197 7,885,213

CURRENT ASSETS
Inventories 9 647,777 722,541
Debtors 10 321,332 304,388
Cash at bank and in hand 4,444,666 3,983,549
5,413,775 5,010,478
CREDITORS
Amounts falling due within one year 11 1,648,576 1,456,427
NET CURRENT ASSETS 3,765,199 3,554,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,894,396

11,439,264

PROVISIONS FOR LIABILITIES 12 341,670 348,918
NET ASSETS 12,552,726 11,090,346

CAPITAL AND RESERVES
Called up share capital 13 245,001 245,001
Capital redemption reserve 255,003 255,003
Retained earnings 12,052,722 10,590,342
SHAREHOLDERS' FUNDS 12,552,726 11,090,346

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





Mrs P Simpson - Director


Kessock Service Station Limited (Registered number: SC180317)

Statement of Changes in Equity
for the Year Ended 31 October 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 November 2021 245,001 9,662,273 255,003 10,162,277

Changes in equity
Dividends - (100,000 ) - (100,000 )
Total comprehensive income - 1,028,069 - 1,028,069
Balance at 31 October 2022 245,001 10,590,342 255,003 11,090,346

Changes in equity
Dividends - (100,000 ) - (100,000 )
Total comprehensive income - 1,562,380 - 1,562,380
Balance at 31 October 2023 245,001 12,052,722 255,003 12,552,726

Kessock Service Station Limited (Registered number: SC180317)

Cash Flow Statement
for the Year Ended 31 October 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,715,993 1,634,330
Tax paid (266,837 ) (240,299 )
Net cash from operating activities 2,449,156 1,394,031

Cash flows from investing activities
Purchase of tangible fixed assets (1,046,009 ) (783,446 )
Purchase of investment property (793,507 ) (544,739 )
Sale of tangible fixed assets - 34,883
Interest received 51,878 2,225
Net cash from investing activities (1,787,638 ) (1,291,077 )

Cash flows from financing activities
Amount withdrawn by directors (100,401 ) 136
Equity dividends paid (100,000 ) (100,000 )
Net cash from financing activities (200,401 ) (99,864 )

Increase in cash and cash equivalents 461,117 3,090
Cash and cash equivalents at beginning of
year

2

3,983,549

3,980,459

Cash and cash equivalents at end of year 2 4,444,666 3,983,549

Kessock Service Station Limited (Registered number: SC180317)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 2,002,071 1,505,775
Depreciation charges 595,532 491,117
Profit on disposal of fixed assets - (23,569 )
Finance income (51,878 ) (2,225 )
2,545,725 1,971,098
Decrease/(increase) in inventories 74,764 (191,611 )
(Increase)/decrease in trade and other debtors (16,943 ) 24,502
Increase/(decrease) in trade and other creditors 112,447 (169,659 )
Cash generated from operations 2,715,993 1,634,330

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 4,444,666 3,983,549
Year ended 31 October 2022
31.10.22 1.11.21
£    £   
Cash and cash equivalents 3,983,549 3,980,459


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.22 Cash flow At 31.10.23
£    £    £   
Net cash
Cash at bank and in hand 3,983,549 461,117 4,444,666
3,983,549 461,117 4,444,666
Total 3,983,549 461,117 4,444,666

Kessock Service Station Limited (Registered number: SC180317)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Kessock Service Station 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents amounts receivable for goods and services net of VAT and trade discounts, recognised on delivery of the product or service.

Rental income classified as other operating income is recognised over the term of the lease.

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.
Freehold property - 2% on cost
Improvements to property - 5% on cost
Fixtures, fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Kessock Service Station Limited (Registered number: SC180317)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,226,635 954,502
Social security costs 80,438 62,420
Other pension costs 20,153 15,321
1,327,226 1,032,243

The average number of employees during the year was as follows:
2023 2022

Directors 2 2
Employees 64 54
66 56

Kessock Service Station Limited (Registered number: SC180317)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS - continued

2023 2022
£    £   
Directors' remuneration 17,280 17,280

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 595,532 491,116
Profit on disposal of fixed assets - (23,569 )
Auditors' remuneration 12,000 12,000

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 446,940 264,012

Deferred tax (7,249 ) 213,694
Tax on profit 439,691 477,706

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 2,002,071 1,505,775
Profit multiplied by the standard rate of corporation tax in the UK of
22.517% (2022 - 19%)

450,806

286,097

Effects of:
Capital allowances in excess of depreciation - (17,607 )

Profit on disposal of assets (3,867 ) (4,478 )
Deferred tax (7,248 ) 213,694
Total tax charge 439,691 477,706

Kessock Service Station Limited (Registered number: SC180317)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 100,000 100,000

7. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures,
Freehold to fittings Motor
property property & equipment vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 1,529,879 87,831 2,995,963 171,128 4,784,801
Additions - - 970,009 76,000 1,046,009
At 31 October 2023 1,529,879 87,831 3,965,972 247,128 5,830,810
DEPRECIATION
At 1 November 2022 260,105 51,879 1,404,381 66,838 1,783,203
Charge for year 30,598 2,599 529,013 33,322 595,532
At 31 October 2023 290,703 54,478 1,933,394 100,160 2,378,735
NET BOOK VALUE
At 31 October 2023 1,239,176 33,353 2,032,578 146,968 3,452,075
At 31 October 2022 1,269,774 35,952 1,591,582 104,290 3,001,598

The Watermill service station has a security charge held over it by Shell U.K. Ltd.

8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 4,883,615
Additions 793,507
At 31 October 2023 5,677,122
NET BOOK VALUE
At 31 October 2023 5,677,122
At 31 October 2022 4,883,615

The directors have valued the property at 31 October 2023 and are satisfied that the current open market value is not materially different from the value included in the financial statements.

Kessock Service Station Limited (Registered number: SC180317)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. INVENTORIES
2023 2022
£    £   
Stocks 647,777 722,541

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 311,609 304,388
Prepayments 9,723 -
321,332 304,388

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 816,418 759,185
Tax 446,948 266,845
Social security and other taxes 21,916 23,601
VAT 162,633 107,854
Directors' current accounts 92,136 192,537
Accrued expenses 108,525 106,405
1,648,576 1,456,427

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 341,670 348,918

Deferred
tax
£   
Balance at 1 November 2022 348,918
Credit to Income Statement during year (7,248 )
Balance at 31 October 2023 341,670

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
245,001 Ordinary £1 245,001 245,001

14. ULTIMATE CONTROLLING PARTY

The controlling party is J Simpson.