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REGISTERED NUMBER: SC077025 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

REEKIE OF KINGLASSIE COMPANY LIMITED

REEKIE OF KINGLASSIE COMPANY LIMITED (REGISTERED NUMBER: SC077025)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


REEKIE OF KINGLASSIE COMPANY LIMITED

COMPANY INFORMATION
for the year ended 30 November 2024







DIRECTORS: P Howard
E Reekie Jnr





REGISTERED OFFICE: c/o Patricia Howard
6 Rutherford Castle Drive
West Linton
Borders
EH46 7AR





REGISTERED NUMBER: SC077025 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Cluny Court
John Smith Business Park
Kirkcaldy
Fife
KY2 6QJ

REEKIE OF KINGLASSIE COMPANY LIMITED (REGISTERED NUMBER: SC077025)

STATEMENT OF FINANCIAL POSITION
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 123,868 129,865

CURRENT ASSETS
Stocks 798 5,330
Debtors 5 14,419 18,080
Cash at bank and in hand 399,096 348,946
414,313 372,356
CREDITORS
Amounts falling due within one year 6 93,872 66,565
NET CURRENT ASSETS 320,441 305,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,309

435,656

PROVISIONS FOR LIABILITIES 7 25,688 22,833
NET ASSETS 418,621 412,823

CAPITAL AND RESERVES
Called up share capital 83,000 83,000
Retained earnings 335,621 329,823
SHAREHOLDERS' FUNDS 418,621 412,823

REEKIE OF KINGLASSIE COMPANY LIMITED (REGISTERED NUMBER: SC077025)

STATEMENT OF FINANCIAL POSITION - continued
30 November 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 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 24 June 2025 and were signed on its behalf by:





P Howard - Director


REEKIE OF KINGLASSIE COMPANY LIMITED (REGISTERED NUMBER: SC077025)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2024

1. STATUTORY INFORMATION

Reekie of Kinglassie Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales for the provision of fuel and motor vehicle maintenance.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable property - 2% per annum on cost
Plant and machinery - 20% per annum reducing balance
Fixtures and fittings - 15% per annum reducing balance
Motor vehicles - 25% per annum reducing balance
Computer equipment - 33% per annum on cost

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

REEKIE OF KINGLASSIE COMPANY LIMITED (REGISTERED NUMBER: SC077025)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 5 (2023 - 3 ) .

REEKIE OF KINGLASSIE COMPANY LIMITED (REGISTERED NUMBER: SC077025)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Heritable Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2023 131,879 22,694 8,462
Additions - 775 289
Disposals - - (216 )
At 30 November 2024 131,879 23,469 8,535
DEPRECIATION
At 1 December 2023 21,100 7,729 6,374
Charge for year 2,638 3,115 321
Eliminated on disposal - - (194 )
At 30 November 2024 23,738 10,844 6,501
NET BOOK VALUE
At 30 November 2024 108,141 12,625 2,034
At 30 November 2023 110,779 14,965 2,088

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2023 20,100 2,807 185,942
Additions - - 1,064
Disposals - - (216 )
At 30 November 2024 20,100 2,807 186,790
DEPRECIATION
At 1 December 2023 19,948 926 56,077
Charge for year 39 926 7,039
Eliminated on disposal - - (194 )
At 30 November 2024 19,987 1,852 62,922
NET BOOK VALUE
At 30 November 2024 113 955 123,868
At 30 November 2023 152 1,881 129,865

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,631 3,722
Other debtors 12,788 14,358
14,419 18,080

REEKIE OF KINGLASSIE COMPANY LIMITED (REGISTERED NUMBER: SC077025)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,014 6,855
Taxation and social security 20,471 15,860
Other creditors 54,387 43,850
93,872 66,565

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,938 3,627
Repairs provision 21,750 19,206
25,688 22,833

Deferred
tax Repairs
£    £   
Balance at 1 December 2023 3,627 19,206
Charge to Statement of Income and Retained Earnings during year 311 2,544
Balance at 30 November 2024 3,938 21,750

8. RELATED PARTY DISCLOSURES

Included in 'Other creditors' is an amount of £50,991 (2023- £39,406) due by the company to the directors. This loan is interest free and repayable on demand.