Silverfin false false 31/03/2024 01/04/2023 31/03/2024 David J Keith 17/03/1992 Nina M Keith 17/03/1992 William Keith 17/03/1992 20 November 2024 The principle activity of the company during the financial year was that of farming. SC137181 2024-03-31 SC137181 bus:Director1 2024-03-31 SC137181 bus:Director2 2024-03-31 SC137181 bus:Director3 2024-03-31 SC137181 2023-03-31 SC137181 core:CurrentFinancialInstruments 2024-03-31 SC137181 core:CurrentFinancialInstruments 2023-03-31 SC137181 core:ShareCapital 2024-03-31 SC137181 core:ShareCapital 2023-03-31 SC137181 core:SharePremium 2024-03-31 SC137181 core:SharePremium 2023-03-31 SC137181 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC137181 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC137181 core:LandBuildings 2023-03-31 SC137181 core:PlantMachinery 2023-03-31 SC137181 core:Vehicles 2023-03-31 SC137181 core:FurnitureFittings 2023-03-31 SC137181 core:LandBuildings 2024-03-31 SC137181 core:PlantMachinery 2024-03-31 SC137181 core:Vehicles 2024-03-31 SC137181 core:FurnitureFittings 2024-03-31 SC137181 core:CostValuation 2023-03-31 SC137181 core:CostValuation 2024-03-31 SC137181 2022-03-31 SC137181 bus:OrdinaryShareClass1 2024-03-31 SC137181 bus:OrdinaryShareClass2 2024-03-31 SC137181 2023-04-01 2024-03-31 SC137181 bus:FilletedAccounts 2023-04-01 2024-03-31 SC137181 bus:SmallEntities 2023-04-01 2024-03-31 SC137181 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC137181 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC137181 bus:Director1 2023-04-01 2024-03-31 SC137181 bus:Director2 2023-04-01 2024-03-31 SC137181 bus:Director3 2023-04-01 2024-03-31 SC137181 core:PlantMachinery 2023-04-01 2024-03-31 SC137181 core:Vehicles 2023-04-01 2024-03-31 SC137181 core:FurnitureFittings 2023-04-01 2024-03-31 SC137181 2022-04-01 2023-03-31 SC137181 core:LandBuildings 2023-04-01 2024-03-31 SC137181 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC137181 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC137181 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 SC137181 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC137181 (Scotland)

WND KEITH LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

WND KEITH LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

WND KEITH LTD.

BALANCE SHEET

AS AT 31 MARCH 2024
WND KEITH LTD.

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 243,916 253,441
Investments 4 1,183 1,183
245,099 254,624
Current assets
Stocks 25,137 8,341
Debtors 5 27,694 20,677
Cash at bank and in hand 149,936 121,124
202,767 150,142
Creditors: amounts falling due within one year 6 ( 41,917) ( 25,469)
Net current assets 160,850 124,673
Total assets less current liabilities 405,949 379,297
Provision for liabilities 7 ( 10,464) ( 12,274)
Net assets 395,485 367,023
Capital and reserves
Called-up share capital 8 100,000 100,000
Share premium account 158,735 158,735
Profit and loss account 136,750 108,288
Total shareholders' funds 395,485 367,023

For the financial 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 financial statements of WND Keith Ltd. (registered number: SC137181) were approved and authorised for issue by the Board of Directors on 20 November 2024. They were signed on its behalf by:

David J Keith
Director
WND KEITH LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
WND KEITH LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

WND Keith Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Teanagairn Farm, Culbokie, Dingwall, IV7 8JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of short-term employee benefits are recognised in the period in which the employees services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 20 - 33 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

At each reporting date, an assessment is made for impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2023 187,888 47,346 134,250 9,427 378,911
Additions 0 3,850 0 0 3,850
At 31 March 2024 187,888 51,196 134,250 9,427 382,761
Accumulated depreciation
At 01 April 2023 0 29,925 86,118 9,427 125,470
Charge for the financial year 0 3,749 9,626 0 13,375
At 31 March 2024 0 33,674 95,744 9,427 138,845
Net book value
At 31 March 2024 187,888 17,522 38,506 0 243,916
At 31 March 2023 187,888 17,421 48,132 0 253,441

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 1,183 1,183
At 31 March 2024 1,183 1,183
Carrying value at 31 March 2024 1,183 1,183
Carrying value at 31 March 2023 1,183 1,183

5. Debtors

2024 2023
£ £
Trade debtors 16,175 9,607
Other debtors 11,519 11,070
27,694 20,677

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 20,197 1,155
Taxation and social security 8,486 9,155
Other creditors 13,234 15,159
41,917 25,469

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 12,274) ( 18,115)
Credited to the Profit and Loss Account 1,810 5,841
At the end of financial year ( 10,464) ( 12,274)

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
90,000 A ordinary shares of £ 1.00 each 90,000 90,000
10,000 B ordinary shares of £ 1.00 each 10,000 10,000
100,000 100,000

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to key management personnel 7,508 7,508