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REGISTERED NUMBER: SC241689 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Kirkton Flooring Ltd.

Kirkton Flooring Ltd. (Registered number: SC241689)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kirkton Flooring Ltd.

Company Information
for the Year Ended 31 December 2024







DIRECTORS: G Burns
S J Graham
R McMeechan
S McMeechan





SECRETARY: G Burns





REGISTERED OFFICE: Unit 11
Grange Road
Houston Industrial Estate
Livingston
West Lothian
EH54 5DE





REGISTERED NUMBER: SC241689 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Kirkton Flooring Ltd. (Registered number: SC241689)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 688,752 679,968
688,752 679,968

CURRENT ASSETS
Stocks 148,405 43,920
Debtors 6 505,499 585,030
Cash at bank 1,394,834 504,755
2,048,738 1,133,705
CREDITORS
Amounts falling due within one year 7 709,298 577,030
NET CURRENT ASSETS 1,339,440 556,675
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,028,192

1,236,643

CREDITORS
Amounts falling due after more than
one year

8

-

(5,534

)

PROVISIONS FOR LIABILITIES (172,188 ) (159,932 )
NET ASSETS 1,856,004 1,071,177

Kirkton Flooring Ltd. (Registered number: SC241689)

Balance Sheet - continued
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,856,002 1,071,175
1,856,004 1,071,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 11 March 2025 and were signed on its behalf by:





G Burns - Director


Kirkton Flooring Ltd. (Registered number: SC241689)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Kirkton Flooring Ltd. 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Goodwill has now been written off in full.

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.
Plant and machinery etc - 25% on reducing balance

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

Financial instruments
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.

Creditors
Short term creditors are measured at transaction price, less any impairment. 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.

Cash and bank balances
Cash and bank balances are measured at the transaction price.


Kirkton Flooring Ltd. (Registered number: SC241689)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 54 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 60,000
AMORTISATION
At 1 January 2024
and 31 December 2024 60,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Kirkton Flooring Ltd. (Registered number: SC241689)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 1,133,324
Additions 416,961
Disposals (391,135 )
At 31 December 2024 1,159,150
DEPRECIATION
At 1 January 2024 453,356
Charge for year 163,912
Eliminated on disposal (146,870 )
At 31 December 2024 470,398
NET BOOK VALUE
At 31 December 2024 688,752
At 31 December 2023 679,968

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 505,499 564,087
VAT - 20,943
505,499 585,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts - 57,182
Trade creditors 100,359 107,517
Tax 422,786 253,806
Social security and other taxes 62,897 99,694
VAT 62,450 -
Company credit card 7,978 10,791
Net wage control account 38 104
Directors' current accounts 37,745 32,403
Accrued expenses 15,045 15,533
709,298 577,030

Kirkton Flooring Ltd. (Registered number: SC241689)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts - 5,534

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts - 62,716

Secured over assets financed.