2022-12-012023-11-302023-11-30falseSC254382KINGDOM KILTS (UK) 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KINGDOM KILTS (UK) LIMITED

Registered Number
SC254382
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

KINGDOM KILTS (UK) LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Andrew Mathieson
Marion Mathieson

Company Secretary

Andrew Mathieson

Registered Address

34 North Street
Glenrothes
KY7 5NA

Registered Number

SC254382 (Scotland)
KINGDOM KILTS (UK) LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3-374
Tangible assets4239,697240,722
239,697241,096
Current assets
Stocks18,52020,560
Debtors51,4398,240
Cash at bank and on hand34,17445,053
54,13373,853
Creditors amounts falling due within one year6(126,567)(140,863)
Net current assets (liabilities)(72,434)(67,010)
Total assets less current liabilities167,263174,086
Creditors amounts falling due after one year7(50,521)(62,151)
Provisions for liabilities(10,310)(9,617)
Net assets106,432102,318
Capital and reserves
Called up share capital100100
Profit and loss account106,332102,218
Shareholders' funds106,432102,318
The financial statements were approved and authorised for issue by the Board of Directors on 29 August 2024, and are signed on its behalf by:
Andrew Mathieson
Director
Registered Company No. SC254382
KINGDOM KILTS (UK) LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on the going concern basis. The directors find it appropriate for the financial statements to be prepared on this basis despite the net current liability position of the company. The company is reliant upon the continued support of the directors who have confirmed they will not withdraw their directors loan account to the detriment of other creditors.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill, being the amount paid in connection with the acquisition of the business in 2003, is being amortised evenly over its estimated useful life of twenty years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery20-
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20232022
Average number of employees during the year66
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 227,5007,500
At 30 November 237,5007,500
Amortisation and impairment
At 01 December 227,1267,126
Charge for year374374
At 30 November 237,5007,500
Net book value
At 30 November 23--
At 30 November 22374374
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 December 22233,5344,47868,11116,588322,711
Additions5,6251,05214,495-21,172
Disposals--(18,995)-(18,995)
At 30 November 23239,1595,53063,61116,588324,888
Depreciation and impairment
At 01 December 2243,4302,62822,30513,62681,989
Charge for year5,38340713,0631,16820,021
On disposals--(16,819)-(16,819)
At 30 November 2348,8133,03518,54914,79485,191
Net book value
At 30 November 23190,3462,49545,0621,794239,697
At 30 November 22190,1041,85045,8062,962240,722
5.Debtors: amounts due within one year

2023

2022

££
Other debtors-1,916
Prepayments and accrued income1,4396,324
Total1,4398,240
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables12,98030,799
Bank borrowings and overdrafts8,15010,545
Taxation and social security8,9114,932
Finance lease and HP contracts3,6973,390
Other creditors85,76990,397
Accrued liabilities and deferred income7,060800
Total126,567140,863
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts42,47150,404
Other creditors8,05011,747
Total50,52162,151
The bank hold a standard security over the land and buildings and a floating charge over all assets of the company.