REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
17 JULY 2023 TO 31 JULY 2024 |
FOR |
THE KINGHORN SHIP LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
17 JULY 2023 TO 31 JULY 2024 |
FOR |
THE KINGHORN SHIP LTD |
THE KINGHORN SHIP LTD (REGISTERED NUMBER: SC776054) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 17 July 2023 to 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE KINGHORN SHIP LTD |
COMPANY INFORMATION |
for the period 17 July 2023 to 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisors and Accountants |
Viewforth House |
189 Nicol Street |
Kirkcaldy |
Fife |
KY1 1PF |
THE KINGHORN SHIP LTD (REGISTERED NUMBER: SC776054) |
BALANCE SHEET |
31 July 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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 were approved by the Board of Directors and authorised for issue on |
THE KINGHORN SHIP LTD (REGISTERED NUMBER: SC776054) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 17 July 2023 to 31 July 2024 |
1. | STATUTORY INFORMATION |
The Kinghorn Ship Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
At 31 July 2024 the company had net liabilities of £23,583 and relies on the continued support of related parties to finance its working capital requirements. The directors consider it appropriate to prepare the financial statements on the going concern basis as they expect that this support will continue for the foreseeable future. |
TURNOVER |
Turnover represents the consideration received or receivable, excluding value added tax, relating to restaurant services. |
TANGIBLE FIXED ASSETS |
Fixtures and fittings | - |
Computer equipment | - |
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 period 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 period 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. |
THE KINGHORN SHIP LTD (REGISTERED NUMBER: SC776054) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 17 July 2023 to 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
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 period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Heritable | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
Additions |
At 31 July 2024 |
DEPRECIATION |
Charge for period |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
Included in 'Other creditors' is an amount of £319,028 due to the directors from the company. |
These loans are interest free and hae no fixed terms of repayment. |