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REGISTERED NUMBER: SC265471 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

K.W. CONTRACTORS LIMITED

K.W. CONTRACTORS LIMITED (REGISTERED NUMBER: SC265471)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


K.W. CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr A Auld
Mrs J Ironside
Mr J R Wilson





SECRETARY: Mrs J Ironside





REGISTERED OFFICE: 51-53 High Street
Turriff
Aberdeenshire
AB53 4EJ





REGISTERED NUMBER: SC265471 (Scotland)





ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY

K.W. CONTRACTORS LIMITED (REGISTERED NUMBER: SC265471)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 311,266 552,900

CURRENT ASSETS
Stocks 1,194,122 1,125,991
Debtors 5 502,033 727,416
Cash at bank and in hand 2,373,105 1,596,539
4,069,260 3,449,946
CREDITORS
Amounts falling due within one year 6 2,884,085 2,557,509
NET CURRENT ASSETS 1,185,175 892,437
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,496,441

1,445,337

PROVISIONS FOR LIABILITIES 22,765 24,990
NET ASSETS 1,473,676 1,420,347

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,472,676 1,419,347
SHAREHOLDERS' FUNDS 1,473,676 1,420,347

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.

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 29 April 2025 and were signed on its behalf by:





Mrs J Ironside - Director


K.W. CONTRACTORS LIMITED (REGISTERED NUMBER: SC265471)

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


1. STATUTORY INFORMATION

K.W. Contractors 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stocks, including land held for development and completed are stated at the lower of cost and net realisable value.

Amounts recoverable on contracts are included in debtors and stated at cost plus attributable profit less any foreseeable losses. Attributable profit is recognised in proportion to the stage of completion reached when the outcome of the contract can be assessed with reasonable certainty.

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.

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 25 (2023 - 24 ) .

K.W. CONTRACTORS LIMITED (REGISTERED NUMBER: SC265471)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 465,915 564,640 1,030,555
Additions 250 44,871 45,121
Disposals (297,915 ) (35,362 ) (333,277 )
At 30 April 2024 168,250 574,149 742,399
DEPRECIATION
At 1 May 2023 61,320 416,335 477,655
Charge for year 3,361 44,804 48,165
Eliminated on disposal (61,320 ) (33,367 ) (94,687 )
At 30 April 2024 3,361 427,772 431,133
NET BOOK VALUE
At 30 April 2024 164,889 146,377 311,266
At 30 April 2023 404,595 148,305 552,900

Cost or valuation at 30 April 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 (61,839 ) - (61,839 )
Cost 230,089 574,149 804,238
168,250 574,149 742,399

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 426,740 657,179
Other debtors 15,934 -
Taxation 33,196 31,391
Prepayments and accrued income 26,163 38,846
502,033 727,416

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 509,600 196,068
Social security and other taxes 30,703 26,767
VAT 163,868 106,407
Amounts due to group 2,095,171 1,980,447
Other creditors 9,943 9,943
Accruals 74,800 237,877
2,884,085 2,557,509

K.W. CONTRACTORS LIMITED (REGISTERED NUMBER: SC265471)

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


7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Ironside.

J Ironside, together with members of her close family, control the company by virtue of a controlling interest of 100% of the issued ordinary share capital.