17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 416,800 416,800 xbrli:pure xbrli:shares iso4217:GBP SC406321 2023-04-01 2024-03-31 SC406321 2024-03-31 SC406321 2023-03-31 SC406321 2022-04-01 2023-03-31 SC406321 2023-03-31 SC406321 2022-03-31 SC406321 core:NetGoodwill 2023-04-01 2024-03-31 SC406321 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 SC406321 core:PlantMachinery 2023-04-01 2024-03-31 SC406321 core:FurnitureFittings 2023-04-01 2024-03-31 SC406321 bus:Director1 2023-04-01 2024-03-31 SC406321 bus:Director4 2023-04-01 2024-03-31 SC406321 core:NetGoodwill 2024-03-31 SC406321 core:LandBuildings 2023-03-31 SC406321 core:PlantMachinery 2023-03-31 SC406321 core:FurnitureFittings 2023-03-31 SC406321 core:LandBuildings 2024-03-31 SC406321 core:PlantMachinery 2024-03-31 SC406321 core:FurnitureFittings 2024-03-31 SC406321 core:WithinOneYear 2024-03-31 SC406321 core:WithinOneYear 2023-03-31 SC406321 core:AfterOneYear 2023-03-31 SC406321 core:ShareCapital 2024-03-31 SC406321 core:ShareCapital 2023-03-31 SC406321 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC406321 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC406321 core:LandBuildings 2023-04-01 2024-03-31 SC406321 core:LandBuildings 2023-03-31 SC406321 core:PlantMachinery 2023-03-31 SC406321 core:FurnitureFittings 2023-03-31 SC406321 bus:SmallEntities 2023-04-01 2024-03-31 SC406321 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC406321 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC406321 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC406321 bus:FullAccounts 2023-04-01 2024-03-31 SC406321 core:OfficeEquipment 2023-04-01 2024-03-31 SC406321 core:OfficeEquipment 2024-03-31 SC406321 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: SC406321
Walton Kilgour Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Walton Kilgour Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
1,740
3,178
Current assets
Stocks
244,256
184,887
Debtors
7
151,311
193,954
Cash at bank and in hand
266,452
246,693
---------
---------
662,019
625,534
Creditors: amounts falling due within one year
8
432,135
472,685
---------
---------
Net current assets
229,884
152,849
---------
---------
Total assets less current liabilities
231,624
156,027
Creditors: amounts falling due after more than one year
9
25,221
---------
---------
Net assets
231,624
130,806
---------
---------
Capital and reserves
Called up share capital
400
400
Profit and loss account
231,224
130,406
---------
---------
Shareholders funds
231,624
130,806
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Walton Kilgour Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 7 October 2024 , and are signed on behalf of the board by:
Mr J McKeith
Mr G W Tough
Director
Director
Company registration number: SC406321
Walton Kilgour Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 2 Marshall Place, Perth, Perthshire, PH2 8AH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Service revenues are recognised as those services are provided to customers.
Income tax
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
10% straight line
Computer Equipment
-
20% straight line
Fixtures & Fittings
-
15% straight line
Office Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Work in progress
Work in progress is measured at cost as an estimate of the proportion of services rendered but not yet completed and includes an appropriate proportion of directly attributable costs and overheads. Provision is made for irrecoverable costs where appropriate.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 17 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
416,800
---------
Amortisation
At 1 April 2023 and 31 March 2024
416,800
---------
Carrying amount
At 31 March 2024
---------
At 31 March 2023
---------
6. Tangible assets
Land and buildings
Computer equipment
Fixtures and fittings
Office Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
2,291
30,350
6,509
4,588
43,738
-------
--------
-------
-------
--------
Depreciation
At 1 April 2023
1,603
29,740
6,175
3,042
40,560
Charge for the year
229
610
83
516
1,438
-------
--------
-------
-------
--------
At 31 March 2024
1,832
30,350
6,258
3,558
41,998
-------
--------
-------
-------
--------
Carrying amount
At 31 March 2024
459
251
1,030
1,740
-------
--------
-------
-------
--------
At 31 March 2023
688
610
334
1,546
3,178
-------
--------
-------
-------
--------
7. Debtors
2024
2023
£
£
Trade debtors
144,240
177,928
Other debtors
7,071
16,026
---------
---------
151,311
193,954
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,600
Trade creditors
236
224
Social security and other taxes
189,855
162,941
Other creditors
242,044
299,920
---------
---------
432,135
472,685
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,221
----
--------
10. Directors' advances, credits and guarantees
There were no directors advances, credits or guarantees undertaken during the year which require to be disclosed under FRS 102 (1A).
11. Related party transactions
The company has granted security over its assets to the Royal Bank of Scotland as a guarantee for the payments of rent due to Ruments Sax Limited, a company in which Mr McKeith and Mr Tough are also directors.