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Registered number: 07664398









KINLOCHS AND SON HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
KINLOCHS AND SON HOLDINGS LIMITED
REGISTERED NUMBER: 07664398

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
375,000
375,000

Investments
 5 
1,427,621
1,356,829

  
1,802,621
1,731,829

Current assets
  

Debtors: amounts falling due within one year
 6 
1,030,716
552,874

Cash at bank and in hand
 7 
1,185,334
1,640,030

  
2,216,050
2,192,904

Creditors: amounts falling due within one year
 8 
(508,915)
(536,274)

Net current assets
  
 
 
1,707,135
 
 
1,656,630

  

Net assets
  
3,509,756
3,388,459


Capital and reserves
  

Called up share capital 
 9 
100
100

Revaluation reserve
  
285,000
285,000

Profit and loss account
  
3,224,656
3,103,359

  
3,509,756
3,388,459


Page 1

 
KINLOCHS AND SON HOLDINGS LIMITED
REGISTERED NUMBER: 07664398
    
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 8 form part of these financial statements.

Page 2

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

1.


General information

Kinlochs and Son Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Cliff Court, George Summers Close, Medway City Estate, Rochester, ME2 4GU.
The principal activity of the company is that of a holding company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Interest income

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

 
2.3

Taxation

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.

 
2.4

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.

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

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated

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.

Page 3

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

2.Accounting policies (continued)

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 4

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

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

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

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 July 2023
375,000



At 30 June 2024

375,000






Net book value



At 30 June 2024
375,000



At 30 June 2023
375,000

Cost or valuation at 30 June 2024 is as follows:

Land and buildings
£


At cost
130,000
At valuation:

2024
245,000



375,000

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
130,000
130,000

Net book value
130,000
130,000

Page 6

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

5.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 July 2023
21
1,356,808
1,356,829


Disposals
(21)
-
(21)


Revaluations
-
70,813
70,813



At 30 June 2024
-
1,427,621
1,427,621





6.


Debtors

2024
2023
£
£


Other debtors
1,030,716
552,874

1,030,716
552,874



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,185,334
1,640,030

1,185,334
1,640,030



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
466,274
534,074

Corporation tax
40,441
-

Accruals and deferred income
2,200
2,200

508,915
536,274


Page 7

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

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Revaluation reserve

2024
2023
£
£



1st July 2023 and 30th June 2024 on freehold property
285,000
285,000

285,000
285,000


11.


Related party transactions

As at 30 June 2024, included within creditors due within one year is balance amounting of £466,274 (2023 - £534,074)  owed to Kinlochs and Son Limited, a company under common control. The ownership of Kinlochs and Son Limited was transfered to Kinlochs and Son Group Limited during the year.
During the year the company received rent of £40,000 
(2023 - £20,000) from Kinlochs & Son Limited for the use of the freehold property.
As at 30 June 2024, £830,616 
(2023 - £552,768) was due from Citrix Limited, a company under common control.
Included in other debtors is the amout totaling £200,021 due from Kinlochs and Son Group Limited, a company under common control.


12.


Controlling party

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

 
Page 8