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REGISTERED NUMBER: SC272661 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Ben Wyvis Kilts Limited

Ben Wyvis Kilts Limited (Registered number: SC272661)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ben Wyvis Kilts Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Ms V A Allan
Ms C Anderson
Mrs A L McKenzie
D M Anderson





REGISTERED OFFICE: 43 Church Street
Inverness
IV1 1DR





REGISTERED NUMBER: SC272661 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Ben Wyvis Kilts Limited (Registered number: SC272661)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 349,271 362,035
349,271 362,035

CURRENT ASSETS
Stocks 234,556 160,627
Debtors 6 4,045 11,271
Cash at bank and in hand 65,987 52,871
304,588 224,769
CREDITORS
Amounts falling due within one year 7 129,174 140,699
NET CURRENT ASSETS 175,414 84,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

524,685

446,105

CREDITORS
Amounts falling due after more than one year 8 (123,631 ) (144,131 )

PROVISIONS FOR LIABILITIES (7,071 ) (10,262 )
NET ASSETS 393,983 291,712

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 393,883 291,612
393,983 291,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Ben Wyvis Kilts Limited (Registered number: SC272661)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2024 and were signed on its behalf by:




Ms C Anderson - Director



Ms V A Allan - Director


Ben Wyvis Kilts Limited (Registered number: SC272661)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Ben Wyvis Kilts 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not provided
Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

An impairment review was carried out at the year end and no signs of impairment to any fixed asset was noted.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


Ben Wyvis Kilts Limited (Registered number: SC272661)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 80,000
AMORTISATION
At 1 February 2023
and 31 January 2024 80,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Ben Wyvis Kilts Limited (Registered number: SC272661)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 320,988 32,374 39,780 711 393,853
Additions - - 465 337 802
At 31 January 2024 320,988 32,374 40,245 1,048 394,655
DEPRECIATION
At 1 February 2023 - 3,237 28,297 284 31,818
Charge for year - 3,238 10,061 267 13,566
At 31 January 2024 - 6,475 38,358 551 45,384
NET BOOK VALUE
At 31 January 2024 320,988 25,899 1,887 497 349,271
At 31 January 2023 320,988 29,137 11,483 427 362,035

An impairment review was carried out at the year end and no signs of impairment to any fixed asset was noted.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,308 -
Other debtors 2,737 11,271
4,045 11,271

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 20,500 20,500
Trade creditors 10,536 24,044
Taxation and social security 61,668 72,527
Other creditors 36,470 23,628
129,174 140,699

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 123,631 144,131

Ben Wyvis Kilts Limited (Registered number: SC272661)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.1.24 31.1.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 52,048 64,798

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loan 134,548 151,048

Royal Bank of Scotland hold a fixed bond and floating charge over all assets of the company.

Together Commercial Finance Limited have security over the property at 43 Church Street, Inverness, IV1 1DR.

10. OTHER INCOME

Other income shown in the accounts for the YE 31 January 2023 relates to an insurance refund for loss of earnings during the Covid 19 pandemic. This is exceptional income and will not be repeated.