IRIS Accounts Production v24.3.0.553 SC014049 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0140492023-04-30SC0140492024-04-30SC0140492023-05-012024-04-30SC0140492022-04-30SC0140492022-05-012023-04-30SC0140492023-04-30SC014049ns15:Scotland2023-05-012024-04-30SC014049ns14:PoundSterling2023-05-012024-04-30SC014049ns10:Director12023-05-012024-04-30SC014049ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC014049ns10:SmallEntities2023-05-012024-04-30SC014049ns10:AuditExemptWithAccountantsReport2023-05-012024-04-30SC014049ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC014049ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC014049ns10:FullAccounts2023-05-012024-04-30SC014049ns10:OrdinaryShareClass12023-05-012024-04-30SC014049ns10:Director22023-05-012024-04-30SC014049ns10:CompanySecretary12023-05-012024-04-30SC014049ns10:RegisteredOffice2023-05-012024-04-30SC014049ns5:CurrentFinancialInstruments2024-04-30SC014049ns5:CurrentFinancialInstruments2023-04-30SC014049ns5:Non-currentFinancialInstruments2024-04-30SC014049ns5:Non-currentFinancialInstruments2023-04-30SC014049ns5:ShareCapital2024-04-30SC014049ns5:ShareCapital2023-04-30SC014049ns5:CapitalRedemptionReserve2024-04-30SC014049ns5:CapitalRedemptionReserve2023-04-30SC014049ns5:FurtherSpecificReserve3ComponentTotalEquity2024-04-30SC014049ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-30SC014049ns5:RetainedEarningsAccumulatedLosses2024-04-30SC014049ns5:RetainedEarningsAccumulatedLosses2023-04-30SC014049ns5:LongLeaseholdAssetsns5:LandBuildings2023-05-012024-04-30SC014049ns5:PlantMachinery2023-05-012024-04-30SC014049ns5:MotorVehicles2023-05-012024-04-30SC014049ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-30SC014049ns5:PlantMachinery2023-04-30SC014049ns5:MotorVehicles2023-04-30SC014049ns5:LongLeaseholdAssetsns5:LandBuildings2024-04-30SC014049ns5:PlantMachinery2024-04-30SC014049ns5:MotorVehicles2024-04-30SC014049ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-30SC014049ns5:PlantMachinery2023-04-30SC014049ns5:MotorVehicles2023-04-30SC014049ns5:CostValuation2024-04-30SC014049ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-30SC014049ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-30SC014049ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-30SC014049ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-30SC014049ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-04-30SC014049ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-04-30SC014049ns5:HirePurchaseContracts2024-04-30SC014049ns5:HirePurchaseContracts2023-04-30SC014049ns5:WithinOneYear2024-04-30SC014049ns5:WithinOneYear2023-04-30SC014049ns5:Secured2024-04-30SC014049ns5:Secured2023-04-30SC014049ns5:DeferredTaxation2023-04-30SC014049ns5:DeferredTaxation2023-05-012024-04-30SC014049ns5:DeferredTaxation2024-04-30SC014049ns10:OrdinaryShareClass12024-04-30SC014049ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-30SC0140491ns10:Director12023-04-30SC0140491ns10:Director12022-04-30SC0140491ns10:Director12023-05-012024-04-30SC0140491ns10:Director12022-05-012023-04-30SC0140491ns10:Director12024-04-30SC0140491ns10:Director12023-04-30
REGISTERED NUMBER: SC014049 (Scotland)




















W.H. KIRKWOOD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






W.H. KIRKWOOD LIMITED (REGISTERED NUMBER: SC014049)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

W.H. KIRKWOOD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R Macnaughton
F M Rodden



SECRETARY: J Macnaughton



REGISTERED OFFICE: 26 Lyle Street
Greenock
PA15 4QF



REGISTERED NUMBER: SC014049 (Scotland)



ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD



BANKERS: The Royal Bank of Scotland plc
Greenock Cathcart Street Branch
122 Cathcart Street
Greenock
PA15 1BA



SOLICITORS: Neill Clerk & Murray
3 Ardgowan Square
Greenock
PA16 8NW

W.H. KIRKWOOD LIMITED (REGISTERED NUMBER: SC014049)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 280,427 265,387
Investments 5 25,000 25,000
Investment property 6 362,519 362,519
667,946 652,906

CURRENT ASSETS
Stocks 4,500 4,500
Debtors 7 985,909 1,057,975
Cash at bank and in hand 3,574,588 2,889,776
4,564,997 3,952,251
CREDITORS
Amounts falling due within one year 8 2,238,769 1,792,057
NET CURRENT ASSETS 2,326,228 2,160,194
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,994,174

2,813,100

CREDITORS
Amounts falling due after more than one
year

9

(79,945

)

(5,126

)

PROVISIONS FOR LIABILITIES 12 (22,732 ) (20,303 )
NET ASSETS 2,891,497 2,787,671

CAPITAL AND RESERVES
Called up share capital 13 4,599 4,599
Capital redemption reserve 7,401 7,401
Fair value reserve 14 16,922 16,922
Retained earnings 2,862,575 2,758,749
SHAREHOLDERS' FUNDS 2,891,497 2,787,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

W.H. KIRKWOOD LIMITED (REGISTERED NUMBER: SC014049)

BALANCE SHEET - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





R Macnaughton - Director


W.H. KIRKWOOD LIMITED (REGISTERED NUMBER: SC014049)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

W.H. Kirkwood Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of goods and services supplied, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable property - 2% on cost
Plant and machinery - 33% on cost, 15% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks and work in progress
Stocks and short term work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Long term contracts are reflected in the profit and loss account by including in turnover, the value of work undertaken to date and including in cost of sales, the costs incurred in connection with those valuations. Valuations include an appropriate proportion of the profit which can be foreseen with reasonable certainty at the balance sheet date. Full provision is made for any foreseeable losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

W.H. KIRKWOOD LIMITED (REGISTERED NUMBER: SC014049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease agreements
Rentals receivable under operating leases are credited to the profit and loss account as they accrue.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Heritable Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2023 190,759 175,020 159,923 525,702
Additions - 3,943 122,240 126,183
Disposals - - (90,093 ) (90,093 )
At 30 April 2024 190,759 178,963 192,070 561,792
DEPRECIATION
At 1 May 2023 42,830 162,802 54,683 260,315
Charge for year 3,815 2,992 42,386 49,193
Eliminated on disposal - - (28,143 ) (28,143 )
At 30 April 2024 46,645 165,794 68,926 281,365
NET BOOK VALUE
At 30 April 2024 144,114 13,169 123,144 280,427
At 30 April 2023 147,929 12,218 105,240 265,387

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 May 2023
and 30 April 2024 25,000
NET BOOK VALUE
At 30 April 2024 25,000
At 30 April 2023 25,000


W.H. KIRKWOOD LIMITED (REGISTERED NUMBER: SC014049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 362,519
NET BOOK VALUE
At 30 April 2024 362,519
At 30 April 2023 362,519

The directors consider that the fair value of the Investment property is not materially different to the cost value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts recoverable on contracts 928,700 1,052,932
Other debtors 138 1,138
Prepayments and accrued income 57,071 3,905
985,909 1,057,975

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 34,582 66,130
Hire purchase contracts (see note 10) 12,574 -
Payments on account 491,861 113,523
Trade creditors 519,758 451,515
Corporation tax 81,845 84,093
Social security and other taxes 28,611 32,131
VAT 292,154 268,317
Other creditors 44,022 37,872
Directors' current accounts 44,695 20,324
Accrued charges 687,882 717,367
Deferred government grants 785 785
2,238,769 1,792,057

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 75,604 -
Deferred government grants 4,341 5,126
79,945 5,126

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 12,574 -
Between one and five years 75,604 -
88,178 -

W.H. KIRKWOOD LIMITED (REGISTERED NUMBER: SC014049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 558

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 34,582 66,130
Hire purchase contracts 88,178 -
122,760 66,130

The bank holds a bond and floating charge over the undertaking and all property and assets.

Security for assets held under hire purchase contracts are the assets concerned.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred taxation 22,732 20,303

Deferred
tax
£   
Balance at 1 May 2023 20,303
Charge to Income Statement during year 2,429
Balance at 30 April 2024 22,732

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,599 Ordinary £1 4,599 4,599

14. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 16,922

W.H. KIRKWOOD LIMITED (REGISTERED NUMBER: SC014049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
R Macnaughton
Balance outstanding at start of year - -
Amounts advanced - 616,648
Amounts repaid - (616,648 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest was charged at 2% on the loan advanced in the year.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
W.H. KIRKWOOD LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W.H. Kirkwood Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of W.H. Kirkwood Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W.H. Kirkwood Limited and state those matters that we have agreed to state to the Board of Directors of W.H. Kirkwood Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that W.H. Kirkwood Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W.H. Kirkwood Limited. You consider that W.H. Kirkwood Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of W.H. Kirkwood Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


15 January 2025