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REGISTERED NUMBER: SC228750 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

KINGSCROFT LOGISTICS LIMITED

KINGSCROFT LOGISTICS LIMITED (REGISTERED NUMBER: SC228750)






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


KINGSCROFT LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs J Bennett
J K Johnston





REGISTERED OFFICE: 19 Kyle Road
Irvine
Ayrshire
KA12 8JN





REGISTERED NUMBER: SC228750 (Scotland)





ACCOUNTANTS: Henry Brown & Co
Chartered Accountants
26 Portland Road
Kilmarnock
Ayrshire
KA1 2EB

KINGSCROFT LOGISTICS LIMITED (REGISTERED NUMBER: SC228750)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 140,761 144,465
140,761 144,465

CURRENT ASSETS
Stocks 80,238 185,238
Debtors 7 129,401 13,360
Cash at bank and in hand 17,115 13,889
226,754 212,487
CREDITORS
Amounts falling due within one year 8 278,636 258,364
NET CURRENT LIABILITIES (51,882 ) (45,877 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,879

98,588

CREDITORS
Amounts falling due after more than one year 9 43,649 61,998
NET ASSETS 45,230 36,590

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 45,228 36,588
SHAREHOLDERS' FUNDS 45,230 36,590

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.

KINGSCROFT LOGISTICS LIMITED (REGISTERED NUMBER: SC228750)

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 31 January 2025 and were signed on its behalf by:





J K Johnston - Director


KINGSCROFT LOGISTICS LIMITED (REGISTERED NUMBER: SC228750)

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

1. STATUTORY INFORMATION

Kingscroft Logistics 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the invoiced amount of goods provided from packaging and other sales, stated net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost

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

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.


KINGSCROFT LOGISTICS LIMITED (REGISTERED NUMBER: SC228750)

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

3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Deferred grants
The Regional Selective Assistance grant is deferred over the period of time in which the grant could be clawed back if the conditions of the grant are not met.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 4,000
AMORTISATION
At 1 May 2023
and 30 April 2024 4,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

KINGSCROFT LOGISTICS LIMITED (REGISTERED NUMBER: SC228750)

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

6. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 185,210 67,379 252,589
DEPRECIATION
At 1 May 2023 40,745 67,379 108,124
Charge for year 3,704 - 3,704
At 30 April 2024 44,449 67,379 111,828
NET BOOK VALUE
At 30 April 2024 140,761 - 140,761
At 30 April 2023 144,465 - 144,465

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 97,090 4,760
Other debtors 32,311 8,600
129,401 13,360

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 42,954 51,248
Trade creditors 36,515 64,277
Taxation and social security 138,031 118,655
Other creditors 61,136 24,184
278,636 258,364

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 43,649 61,998

KINGSCROFT LOGISTICS LIMITED (REGISTERED NUMBER: SC228750)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 24,314 32,608
Bank loans 62,289 80,638
86,603 113,246

The director K Johnston has given a Personal Guarantee to the Bank of Scotland as security for the company's bank overdraft.

The bank loan is secured by a bond and floating charge over the assets of the company and by a standard security over the property at Kyle Road Irvine.

11. 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
£    £   
J K Johnston
Balance outstanding at start of year - -
Amounts advanced 23,711 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,711 -