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REGISTERED NUMBER: SC487036 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

KINGSBOROUGH SHOPS LIMITED

KINGSBOROUGH SHOPS LIMITED (REGISTERED NUMBER: SC487036)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 4


KINGSBOROUGH SHOPS LIMITED (REGISTERED NUMBER: SC487036)

ABRIDGED BALANCE SHEET
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 875,319 1,167,091
Tangible assets 5 288,256 133,759
1,163,575 1,300,850

CURRENT ASSETS
Stocks 114,201 90,792
Debtors 424,696 419,058
Cash at bank and in hand 306,646 298,189
845,543 808,039
CREDITORS
Amounts falling due within one year 707,250 706,303
NET CURRENT ASSETS 138,293 101,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,301,868

1,402,586

CREDITORS
Amounts falling due after more than one
year

6

(1,470,570

)

(1,377,113

)

PROVISIONS FOR LIABILITIES (25,271 ) (25,414 )
NET (LIABILITIES)/ASSETS (193,973 ) 59

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (193,975 ) 57
SHAREHOLDERS' FUNDS (193,973 ) 59

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

KINGSBOROUGH SHOPS LIMITED (REGISTERED NUMBER: SC487036)

ABRIDGED BALANCE SHEET - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

KINGSBOROUGH SHOPS LIMITED (REGISTERED NUMBER: SC487036)

ABRIDGED BALANCE SHEET - continued
30 September 2024



The financial statements were approved by the director and authorised for issue on 25 June 2025 and were signed by:





Ms D Boyle - Director


KINGSBOROUGH SHOPS LIMITED (REGISTERED NUMBER: SC487036)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Kingsborough Shops Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC487036

Registered office: 22 Backbrae Street
Kilsyth
Glasgow
Lanarkshire
G65 0NH

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.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 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
The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their
settlement value.

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.


KINGSBOROUGH SHOPS LIMITED (REGISTERED NUMBER: SC487036)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023
and 30 September 2024 1,458,864
AMORTISATION
At 1 October 2023 291,773
Amortisation for year 291,772
At 30 September 2024 583,545
NET BOOK VALUE

At 30 September 2024 875,319
At 30 September 2023 1,167,091

KINGSBOROUGH SHOPS LIMITED (REGISTERED NUMBER: SC487036)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 267,560
Additions 187,172
At 30 September 2024 454,732
DEPRECIATION
At 1 October 2023 133,801
Charge for year 32,675
At 30 September 2024 166,476
NET BOOK VALUE
At 30 September 2024 288,256
At 30 September 2023 133,759

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 October 2023
and 30 September 2024 153,700
DEPRECIATION
At 1 October 2023 35,223
Charge for year 29,619
At 30 September 2024 64,842
NET BOOK VALUE
At 30 September 2024 88,858
At 30 September 2023 118,477

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30.9.24 30.9.23
£    £   
Repayable otherwise than by instalments
Other bank loans < 1 Year 15,643 -
Other bank loans > 1 Year 168,269 -
183,912 -

7. CHARGES

There are two charges against the company.

The bank has a floating charge over all the property and undertaking of the company. The bank also has a charge over the life assurance policy of the director.