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REGISTERED NUMBER: SC210132 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

KINEIL COACHES LTD.

KINEIL COACHES LTD. (REGISTERED NUMBER: SC210132)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KINEIL COACHES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: I Neilson
Mrs C C Neilson





SECRETARY: Miss F Neilson





REGISTERED OFFICE: Anderson Place
West Shore Road Industrial Estate
Fraserburgh
Aberdeenshire
AB43 9LG





REGISTERED NUMBER: SC210132 (Scotland)

KINEIL COACHES LTD. (REGISTERED NUMBER: SC210132)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,776,726 1,778,278

CURRENT ASSETS
Stocks 26,750 25,000
Debtors 6 547,599 745,373
Cash at bank 2,658,793 1,934,431
3,233,142 2,704,804
CREDITORS
Amounts falling due within one year 7 317,578 180,325
NET CURRENT ASSETS 2,915,564 2,524,479
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,692,290

4,302,757

CREDITORS
Amounts falling due after more than one
year

8

(5,833

)

(29,166

)

PROVISIONS FOR LIABILITIES (345,875 ) (315,441 )
NET ASSETS 4,340,582 3,958,150

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 4,320,582 3,938,150
SHAREHOLDERS' FUNDS 4,340,582 3,958,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

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

KINEIL COACHES LTD. (REGISTERED NUMBER: SC210132)

BALANCE SHEET - continued
31 AUGUST 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 19 May 2025 and were signed on its behalf by:





I Neilson - Director


KINEIL COACHES LTD. (REGISTERED NUMBER: SC210132)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Kineil Coaches 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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 and machinery etc - 25% on reducing balance, 25% on reducing balance and 4% on cost

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.


KINEIL COACHES LTD. (REGISTERED NUMBER: SC210132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. 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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 36 ) .

KINEIL COACHES LTD. (REGISTERED NUMBER: SC210132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 7,114,963
Additions 467,294
Disposals (327,500 )
At 31 August 2024 7,254,757
DEPRECIATION
At 1 September 2023 5,336,685
Charge for year 460,462
Eliminated on disposal (319,116 )
At 31 August 2024 5,478,031
NET BOOK VALUE
At 31 August 2024 1,776,726
At 31 August 2023 1,778,278

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

Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 125,000
DEPRECIATION
At 1 September 2023 26,041
Charge for year 24,740
At 31 August 2024 50,781
NET BOOK VALUE
At 31 August 2024 74,219
At 31 August 2023 98,959

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 369,496 363,616
Other debtors 178,103 381,757
547,599 745,373

KINEIL COACHES LTD. (REGISTERED NUMBER: SC210132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 23,333 23,333
Trade creditors 92,516 42,092
Taxation and social security 148,898 13,850
Other creditors 52,831 101,050
317,578 180,325

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 5,833 29,166

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
I Neilson and Mrs C C Neilson
Balance outstanding at start of year 128,104 27,054
Amounts advanced - 101,050
Amounts repaid (128,104 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 128,104

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.