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REGISTERED NUMBER: SC048861 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

KOSTWISE LIMITED

KOSTWISE LIMITED (REGISTERED NUMBER: SC048861)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


KOSTWISE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: J T Kinnaird
Mrs J C Kinnaird



SECRETARY: Mrs K F Kinnaird



REGISTERED OFFICE: Cairnsmore
Barhill Road
DALBEATTIE
Dumfries & Galloway
DG5 4HT



REGISTERED NUMBER: SC048861 (Scotland)



ACCOUNTANTS: Bell Ogilvy
Chartered Accountants
36 King Street
CASTLE DOUGLAS
Dumfries & Galloway
DG7 1AF



BANKERS: Royal Bank of Scotland
106 High Street
DALBEATTIE
DG5 4HB

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KOSTWISE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kostwise Limited for the year ended 31 January 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Kostwise Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kostwise Limited and state those matters that we have agreed to state to the Board of Directors of Kostwise Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kostwise Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kostwise Limited. You consider that Kostwise Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kostwise Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bell Ogilvy
Chartered Accountants
36 King Street
CASTLE DOUGLAS
Dumfries & Galloway
DG7 1AF


12 May 2025

KOSTWISE LIMITED (REGISTERED NUMBER: SC048861)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 43,373 16,577
Investments 5 441,413 454,274
Investment property 6 2,912,537 2,912,537
3,397,323 3,383,388

CURRENT ASSETS
Debtors 7 9,448 4,125
Cash at bank 1,008,870 836,566
1,018,318 840,691
CREDITORS
Amounts falling due within one year 8 70,731 45,155
NET CURRENT ASSETS 947,587 795,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,344,910

4,178,924

CREDITORS
Amounts falling due after more than one
year

9

(3,412

)

(3,771

)

PROVISIONS FOR LIABILITIES (4,309 ) -
NET ASSETS 4,337,189 4,175,153

CAPITAL AND RESERVES
Called up share capital 3,751 3,751
Other reserves 448,872 448,872
Capital Redemption reserve 6,249 6,249
Non-distributable reserve 10 334,589 334,589
Retained earnings 3,543,728 3,381,692
SHAREHOLDERS' FUNDS 4,337,189 4,175,153

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

KOSTWISE LIMITED (REGISTERED NUMBER: SC048861)

BALANCE SHEET - continued
31 JANUARY 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





J T Kinnaird - Director


KOSTWISE LIMITED (REGISTERED NUMBER: SC048861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

Kostwise 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 represents rents received for the year.

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.
Plant and machinery etc - 20% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

INVESTMENT PROPERTY
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recorded, in the non-distributable profit reserve.

FINANCIAL INSTRUMENTS
Cash
Cash and cash equivalents comprise cash on hand and call deposits, and other short term high liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Accounts payable are classified as current liabilities if the company does not have conditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are represented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of financial activities over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

KOSTWISE LIMITED (REGISTERED NUMBER: SC048861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

REVENUE RECOGNITION
In accordance with the principle of revenue recognition, income is recognised as the right to consideration through performance of contractual obligations and is included in the financial statements when the company is legally entitled to the income.

OPERATING LEASES
Investment properties which are held for use with operating leases are included in tangible fixed assets and are accounted for as noted in the investment property accounting policy.

Gross income from operating leases is recognised in the profit and loss account on a straight line basis over the period of each lease. Any initial costs incurred in arranging operating leases are charged to the profit and loss account in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

KOSTWISE LIMITED (REGISTERED NUMBER: SC048861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2024 25,065
Additions 31,425
At 31 January 2025 56,490
DEPRECIATION
At 1 February 2024 8,488
Charge for year 4,629
At 31 January 2025 13,117
NET BOOK VALUE
At 31 January 2025 43,373
At 31 January 2024 16,577

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2024 454,274
Additions 45,101
Disposals (57,962 )
At 31 January 2025 441,413
NET BOOK VALUE
At 31 January 2025 441,413
At 31 January 2024 454,274

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024
and 31 January 2025 2,912,537
NET BOOK VALUE
At 31 January 2025 2,912,537
At 31 January 2024 2,912,537

Fair value at 31 January 2025 is represented by:
£   
Valuation in 2025 2,912,537

KOSTWISE LIMITED (REGISTERED NUMBER: SC048861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2025 2024
£    £   
Cost 2,577,948 2,577,948

Investment property was valued on an open market basis on 31 January 2025 by the Director, Mr J T Kinnaird .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 9,448 4,125

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 5,000 -
Taxation and social security 63,025 42,100
Other creditors 2,706 3,055
70,731 45,155

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Other creditors 3,412 3,771

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 1,257 1,616

10. RESERVES
Non-distributable
reserve
£   
At 1 February 2024
and 31 January 2025 334,589