Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-3012Plumbing, heat and air-conditioning installation2023-07-01false15truefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04009279 2023-07-01 2024-06-30 04009279 2022-07-01 2023-06-30 04009279 2024-06-30 04009279 2023-06-30 04009279 2022-07-01 04009279 c:Director1 2023-07-01 2024-06-30 04009279 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 04009279 d:Buildings d:LongLeaseholdAssets 2024-06-30 04009279 d:Buildings d:LongLeaseholdAssets 2023-06-30 04009279 d:MotorVehicles 2023-07-01 2024-06-30 04009279 d:MotorVehicles 2024-06-30 04009279 d:MotorVehicles 2023-06-30 04009279 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04009279 d:FurnitureFittings 2023-07-01 2024-06-30 04009279 d:FurnitureFittings 2024-06-30 04009279 d:FurnitureFittings 2023-06-30 04009279 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04009279 d:OfficeEquipment 2023-07-01 2024-06-30 04009279 d:OfficeEquipment 2024-06-30 04009279 d:OfficeEquipment 2023-06-30 04009279 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04009279 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04009279 d:CurrentFinancialInstruments 2024-06-30 04009279 d:CurrentFinancialInstruments 2023-06-30 04009279 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04009279 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04009279 d:ShareCapital 2024-06-30 04009279 d:ShareCapital 2023-06-30 04009279 d:RetainedEarningsAccumulatedLosses 2024-06-30 04009279 d:RetainedEarningsAccumulatedLosses 2023-06-30 04009279 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 04009279 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 04009279 c:OrdinaryShareClass1 2023-07-01 2024-06-30 04009279 c:OrdinaryShareClass1 2024-06-30 04009279 c:OrdinaryShareClass1 2023-06-30 04009279 c:FRS102 2023-07-01 2024-06-30 04009279 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04009279 c:FullAccounts 2023-07-01 2024-06-30 04009279 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04009279 d:WithinOneYear 2024-06-30 04009279 d:WithinOneYear 2023-06-30 04009279 d:BetweenOneFiveYears 2024-06-30 04009279 d:BetweenOneFiveYears 2023-06-30 04009279 2 2023-07-01 2024-06-30 04009279 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04009279









KINLOCHS AND SON LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
KINLOCHS AND SON LTD
REGISTERED NUMBER: 04009279

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
83,041
63,673

Current assets
  

Stocks
  
9,500
15,500

Debtors: amounts falling due within one year
 6 
1,361,101
1,038,790

Cash at bank and in hand
 7 
57,425
65,016

  
1,428,026
1,119,306

Creditors: amounts falling due within one year
 8 
(983,384)
(829,896)

Net current assets
  
 
 
444,642
 
 
289,410

Total assets less current liabilities
  
527,683
353,083

Provisions for liabilities
  

Deferred tax
  
(8,098)
(2,189)

Net assets
  
519,585
350,894


Capital and reserves
  

Called up share capital 
 10 
21
21

Profit and loss account
  
519,564
350,873

  
519,585
350,894


Page 1

 
KINLOCHS AND SON LTD
REGISTERED NUMBER: 04009279
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr S Kinloch
Director

Date: 16 November 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Kinlochs and Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Cliffe Court, George Summers Close, Medway City Estate, Rochester, ME2 4GU.
The principal activity of the company continued to be that of sales, servicing and repair of air conditioning equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets -  goodwill

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on following bases:


Improvements to leasehold property
-
over 20 years
Motor vehicles
-
25% reducing balance
Fixtures fittings and equipment
-
25% reducing balance
Computer equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each balance sheet date, an assessment is made of 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.

 
2.11

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.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

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.

Page 6

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Total
15
12

Page 7

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Leasehold property improvements
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
69,549
16,065
28,513
32,532
146,659


Additions
-
36,600
-
5,503
42,103


Disposals
-
(16,065)
-
-
(16,065)



At 30 June 2024

69,549
36,600
28,513
38,035
172,697



Depreciation


At 1 July 2023
27,817
6,148
26,948
22,073
82,986


Charge for the year on owned assets
3,477
7,642
392
3,227
14,738


Disposals
-
(8,068)
-
-
(8,068)



At 30 June 2024

31,294
5,722
27,340
25,300
89,656



Net book value



At 30 June 2024
38,255
30,878
1,173
12,735
83,041



At 30 June 2023
41,732
9,917
1,565
10,459
63,673


5.


Stocks

2024
2023
£
£

Raw materials and consumables
9,500
15,500

9,500
15,500


Page 8

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
445,350
440,506

Amounts owed by group undertakings
886,274
534,074

Amounts recoverable on contracts
28
36,128

Prepayments and accrued income
29,449
28,082

1,361,101
1,038,790



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
57,425
65,016

57,425
65,016



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
372,744
244,006

Corporation tax
82,906
64,736

Other taxation and social security
73,736
83,198

Other creditors
120,278
119,768

Accruals and deferred income
333,720
318,188

983,384
829,896


Page 9

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
(2,189)
(796)


Charge for year
(5,909)
(1,393)



At end of year
(8,098)
(2,189)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(8,098)
(2,189)

(8,098)
(2,189)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



21 (2023 - 21) Ordinary shares of £1.00 each
21
21



11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £69,697 (2023 - £53,442). Contributions totalling £Nil (2023 - Nil) were payable to the fund at the reporting date and are included in other creditors.

Page 10

 
KINLOCHS AND SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Commitments under operating leases

At 30 June 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
56,534
26,123

Later than 1 year and not later than 5 years
27,834
30,463

84,368
56,586


13.


Related party transactions

As at 30 June 2024, included within other debtors is a balance amounting to £466,274 (2023 - £534,074)  owed from Kinlochs and Son Holdings Limited, a company under common control
As at 30 June 2024, included within other debtors is a balance amounting to £420,000 (2023 - £Nil)  owed from Kinlochs and Son Group Limited, the parent company.
During the year the company was charged rent of £40,000 (2023 - £20,000) Kinlochs and Son Holdings Limited for the use of the freehold property.


14.


Controlling party

The utimate parent company is Kinlochs and Son Group Limited which owns 100% of the issued share capital. The ownership of the company was transfered from Kinlochs and Son Holdings Limited to Kinlochs and Son Group Limited during the year.
The ultimate controlling party is Mr S Kinloch, the company director.

 
Page 11