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REGISTERED NUMBER: SC625146 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Kinkell Byre Limited

Kinkell Byre Limited (Registered number: SC625146)






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


Kinkell Byre Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mrs F G Fyfe
R J Fyfe
Mrs C E Fyfe





REGISTERED OFFICE: Kinkell House
St Andrews
Fife
KY16 8PN





REGISTERED NUMBER: SC625146 (Scotland)





ACCOUNTANTS: Henderson Black & Co
Chartered Accountants
28 Rodger Street
Anstruther
Fife
KY10 3DU

Kinkell Byre Limited (Registered number: SC625146)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 885,574 815,821
Investments 5 100 -
885,674 815,821

CURRENT ASSETS
Debtors 6 69,889 132,111
Cash at bank 72,731 10,237
142,620 142,348
CREDITORS
Amounts falling due within one year 7 618,402 533,675
NET CURRENT LIABILITIES (475,782 ) (391,327 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,892

424,494

CREDITORS
Amounts falling due after more than one
year

8

(350,661

)

(399,459

)

PROVISIONS FOR LIABILITIES (36,698 ) (13,824 )
NET ASSETS 22,533 11,211

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 22,433 11,111
SHAREHOLDERS' FUNDS 22,533 11,211

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.

Kinkell Byre Limited (Registered number: SC625146)

Balance Sheet - continued
31 December 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 14 March 2025 and were signed on its behalf by:





R J Fyfe - Director


Kinkell Byre Limited (Registered number: SC625146)

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

1. STATUTORY INFORMATION

Kinkell Byre 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily available from other sources. The estimates and associated assumptions are based on historical experience and other factors that are to be relevant. Actual results may differ from these estimates. In preparing these financial statements, the directors have made the following judgements:

Accruals
Directors estimate the requirements for accruals using post year end information. This identifies costs that are expected to be incurred for services provided by other parties. Accruals are only released when there is a reasonable expectation that these costs will not be invoiced in the future.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred in respect of the transaction can be measured reliably. Revenue from services is recognised when the services have been performed, in accordance with the company's revenue recognition policy.

Amounts received in advance of the provisions of goods or services are recorded as deferred income within liabilities. These amounts are subsequently recognised as turnover when the related goods are delivered or the services performed, in accordance with the company's revenue recognition policy.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 5% - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% to 25% on reducing balance

Kinkell Byre Limited (Registered number: SC625146)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including 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.

Classification of financial liabilities
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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities where payment is due within one year or less, recognised at transaction price.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Kinkell Byre Limited (Registered number: SC625146)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 786,396 65,192 93,602 - 945,190
Additions 98,550 9,762 12,974 15,000 136,286
Reclassification/transfer - (22,787 ) - 22,787 -
At 31 December 2024 884,946 52,167 106,576 37,787 1,081,476
DEPRECIATION
At 1 January 2024 56,634 30,249 42,486 - 129,369
Charge for year 42,988 4,234 15,371 3,940 66,533
Reclassification/transfer - (16,028 ) - 16,028 -
At 31 December 2024 99,622 18,455 57,857 19,968 195,902
NET BOOK VALUE
At 31 December 2024 785,324 33,712 48,719 17,819 885,574
At 31 December 2023 729,762 34,943 51,116 - 815,821

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 100
At 31 December 2024 100
NET BOOK VALUE
At 31 December 2024 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 15,729 19,902
Other debtors 3,743 4,187
Rental deposit 12,500 12,500
Prepayments 37,917 95,522
69,889 132,111

Kinkell Byre Limited (Registered number: SC625146)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 61,409 56,216
Trade creditors 7,157 14,594
Corporation tax 6 -
Social security and other taxes 1,928 3,128
VAT 33,498 51,464
Deferred income 441,473 346,543
Directors' current accounts 25,229 12,705
Accruals 4,100 3,074
Deferred government grants 43,602 45,951
618,402 533,675

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Energy Savings Trust loan 21,935 14,226
Bounce back loan 34,532 39,979
Business Scotland loan 169,754 178,754
Handelsbanken loan 124,440 166,500
350,661 399,459

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
WAP Fyfe and R J Fyfe
Balance outstanding at start of year - 11,033
Amounts repaid - (11,033 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

During 2023 the directors, WAP Fyfe and RJ Fyfe, had loans accounts with the company which were repaid.