1 December 2023 false No description of principal activity Taxfiler 2024.6 SC437014business:PrivateLimitedCompanyLtd2023-12-012024-11-30 SC4370142023-11-30 SC4370142023-12-012024-11-30 SC437014business:AuditExemptWithAccountantsReport2023-12-012024-11-30 SC437014business:FilletedAccounts2023-12-012024-11-30 SC4370142024-11-30 SC437014business:Director12023-12-012024-11-30 SC437014business:RegisteredOffice2023-12-012024-11-30 SC4370142023-11-30 SC437014core:WithinOneYear2024-11-30 SC437014core:WithinOneYear2023-11-30 SC437014core:ShareCapitalcore:PreviouslyStatedAmount2024-11-30 SC437014core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 SC437014core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-11-30 SC437014core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 SC437014core:PreviouslyStatedAmount2024-11-30 SC437014core:PreviouslyStatedAmount2023-11-30 SC437014business:SmallEntities2023-12-012024-11-30 SC437014countries:Scotland2023-12-012024-11-30 SC437014core:LandBuildings2023-12-012024-11-30 SC437014core:PlantMachinery2023-12-012024-11-30 SC437014core:MotorVehicles2023-12-012024-11-30 SC437014core:FurnitureFittings2023-12-012024-11-30 SC437014core:ComputerEquipment2023-12-012024-11-30 SC437014core:LandBuildings2023-11-30 SC437014core:PlantMachinery2023-11-30 SC437014core:MotorVehicles2023-11-30 SC437014core:FurnitureFittings2023-11-30 SC437014core:ComputerEquipment2023-11-30 SC437014core:LandBuildings2024-11-30 SC437014core:PlantMachinery2024-11-30 SC437014core:MotorVehicles2024-11-30 SC437014core:FurnitureFittings2024-11-30 SC437014core:ComputerEquipment2024-11-30 SC437014business:Director112023-12-012024-11-30 SC437014business:Director112023-11-30 SC437014business:Director112024-11-30 SC4370142022-12-012023-11-30 iso4217:GBP xbrli:pure
Company Registration No. SC437014 (Scotland)
Kilmarnock Tyres Limited Unaudited Accounts for the year ended 30 November 2024
Kilmarnock Tyres Limited Unaudited Accounts Contents
Page
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Kilmarnock Tyres Limited Company Information for the year ended 30 November 2024
Director
Mr S Heaney
Company Number
SC437014 (Scotland)
Registered Office
Stuzo Croft Auchencloigh GALSTON Ayrshire KA4 8NP Scotland
Accountants
Hugh Ferguson & Co. Ltd. 22 West Main Street DARVEL Ayrshire KA17 0AQ
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Kilmarnock Tyres Limited Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
84,061 
49,494 
Investment property
355,000 
276,754 
439,061 
326,248 
Current assets
Inventories
33,659 
30,320 
Debtors
261,546 
397,775 
Cash at bank and in hand
910,085 
636,555 
1,205,290 
1,064,650 
Creditors: amounts falling due within one year
(226,798)
(233,616)
Net current assets
978,492 
831,034 
Total assets less current liabilities
1,417,553 
1,157,282 
Provisions for liabilities
Deferred tax
(19,897)
(12,161)
Net assets
1,397,656 
1,145,121 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,397,556 
1,145,021 
Shareholders' funds
1,397,656 
1,145,121 
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 August 2025 and were signed on its behalf by
Mr S Heaney Director Company Registration No. SC437014
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Kilmarnock Tyres Limited Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Kilmarnock Tyres Limited is a private company, limited by shares, registered in Scotland, registration number SC437014. The registered office is Stuzo Croft, Auchencloigh, GALSTON, Ayrshire, KA4 8NP, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost
Plant & machinery
25% on reducing balance
Motor vehicles
25% on cost
Fixtures & fittings
25% on reducing balance
Computer equipment
25% on cost
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Kilmarnock Tyres Limited Notes to the Accounts for the year ended 30 November 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 December 2023
24,208 
77,481 
129,881 
32,524 
6,306 
270,400 
Additions
- 
6,436 
55,585 
1,238 
- 
63,259 
At 30 November 2024
24,208 
83,917 
185,466 
33,762 
6,306 
333,659 
Depreciation
At 1 December 2023
24,208 
60,668 
107,881 
21,843 
6,306 
220,906 
Charge for the year
- 
6,316 
19,396 
2,980 
- 
28,692 
At 30 November 2024
24,208 
66,984 
127,277 
24,823 
6,306 
249,598 
Net book value
At 30 November 2024
- 
16,933 
58,189 
8,939 
- 
84,061 
At 30 November 2023
- 
16,813 
22,000 
10,681 
- 
49,494 
5
Investment property
2024 
£ 
Fair value at 1 December 2023
276,754 
Additions
82,217 
Net loss from fair value adjustments
(3,971)
At 30 November 2024
355,000 
Investment property was valued at 30th November 2024 by the company's director, Mr S Heaney. If the investment property had not been re-valued, it would have been shown at its original cost of £358,971.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
37,147 
45,953 
Accrued income and prepayments
7,432 
4,300 
Other debtors
216,967 
347,522 
261,546 
397,775 
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Kilmarnock Tyres Limited Notes to the Accounts for the year ended 30 November 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
109,982 
97,408 
Taxes and social security
109,381 
129,928 
Accruals
7,435 
6,280 
226,798 
233,616 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr S Heaney
The loan is unsecured, interest is charged on overdrawn balances at the official rate of interest
347,522 
243,000 
373,555 
216,967 
347,522 
243,000 
373,555 
216,967 
At 1st December 2023 Mr S Heaney owed £347,522 to the company. During the period under review Mr Heaney repaid that entire sum to the company. The balance owed by Mr Heaney to the company at 30th November 2024 was £216,967. Mr Heaney repaid that entire balance to the company by 29th August 2025.
9
Average number of employees
During the year the average number of employees was 9 (2023: 8).
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