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REGISTERED NUMBER: SC550751 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

KN Transport Ltd

KN Transport Ltd (Registered number: SC550751)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KN Transport Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTORS: K Connor
Mrs N L Connor





REGISTERED OFFICE: 15 St Leonard Street
Lanark
Lanarkshire
ML11 7AB





REGISTERED NUMBER: SC550751 (Scotland)





ACCOUNTANTS: ICW Accountancy Ltd
15 St Leonard Street
Lanark
Lanarkshire
ML11 7AB

KN Transport Ltd (Registered number: SC550751)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 568,304 390,097
Investments 5 10,000 10,000
578,304 400,097

CURRENT ASSETS
Stocks 500 500
Debtors 6 373,086 323,933
Cash at bank and in hand 152,906 102,088
526,492 426,521
CREDITORS
Amounts falling due within one year 7 381,972 315,279
NET CURRENT ASSETS 144,520 111,242
TOTAL ASSETS LESS CURRENT
LIABILITIES

722,824

511,339

CREDITORS
Amounts falling due after more than one
year

8

(116,682

)

(53,763

)

PROVISIONS FOR LIABILITIES (104,479 ) (92,729 )
NET ASSETS 501,663 364,847

CAPITAL AND RESERVES
Called up share capital 190 190
Retained earnings 501,473 364,657
501,663 364,847

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.

KN Transport Ltd (Registered number: SC550751)

Balance Sheet - continued
30 November 2024


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 11 August 2025 and were signed on its behalf by:





K Connor - Director


KN Transport Ltd (Registered number: SC550751)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

KN Transport Ltd 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & machinery - 15% reducing balance
Fixtures & fittings - 25% on cost
Computer equipment - 33% on cost
Motor Vehicles - 20% 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.

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.

KN Transport Ltd (Registered number: SC550751)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

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 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 19,310 490,114 509,424
Additions - 300,408 300,408
Disposals - (60,000 ) (60,000 )
At 30 November 2024 19,310 730,522 749,832
DEPRECIATION
At 1 December 2023 129 119,198 119,327
Charge for year 767 78,366 79,133
Eliminated on disposal - (16,932 ) (16,932 )
At 30 November 2024 896 180,632 181,528
NET BOOK VALUE
At 30 November 2024 18,414 549,890 568,304
At 30 November 2023 19,181 370,916 390,097

KN Transport Ltd (Registered number: SC550751)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 December 2023 278,120
Additions 190,195
At 30 November 2024 468,315
DEPRECIATION
At 1 December 2023 69,089
Charge for year 50,345
At 30 November 2024 119,434
NET BOOK VALUE
At 30 November 2024 348,881
At 30 November 2023 209,031

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2023
and 30 November 2024 10,000
NET BOOK VALUE
At 30 November 2024 10,000
At 30 November 2023 10,000

6. DEBTORS
30.11.24 30.11.23
£    £   
Amounts falling due within one year:
Trade debtors 320,547 269,803
Other debtors 10,589 54,130
331,136 323,933

Amounts falling due after more than one year:
Other debtors 41,950 -

Aggregate amounts 373,086 323,933

KN Transport Ltd (Registered number: SC550751)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 92,529 57,048
Trade creditors 244,011 199,521
Taxation and social security 33,931 37,489
Other creditors 1,501 11,221
381,972 315,279

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 5,586 14,937
Hire purchase contracts 111,096 38,826
116,682 53,763