Company Registration number: 06021594

Kirkaldy & Roe Ltd

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 7

Kirkaldy & Roe Ltd

Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	963,174	988,029
Current assets
Stocks	5	1,496,350	1,975,430
Debtors	6	476,954	279,272
Cash at bank and in hand		1,786,981	1,125,694
		3,760,285	3,380,396
Creditors: Amounts falling due within one year	7	(903,693)	(1,049,210)
Net current assets		2,856,592	2,331,186
Total assets less current liabilities		3,819,766	3,319,215
Creditors: Amounts falling due after more than one year	7	(58,306)	(28,064)
Provisions for liabilities		(236,619)	(242,566)
Net assets		3,524,841	3,048,585
Capital and reserves
Called up share capital		102	102
Retained earnings		3,524,739	3,048,483
Shareholders' funds		3,524,841	3,048,585

Kirkaldy & Roe Ltd

Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 06021594

Approved and authorised by the Board on 14 August 2025 and signed on its behalf by:
 

......................................... Mr M Kirkaldy Director

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2024

1	GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Orchard Farm
Moorhouse
Carlisle
CA5 6EY
 

These financial statements were authorised for issue by the Board on 14 August 2025.

2	ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Motor vehicles	25% reducing balance
Computer equipment	25% straight line

Stock and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Finance leases and hire purchase contracts

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases and hire purchase contracts are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 41).

4	TANGIBLE ASSETS

	Plant and machinery £	Computer equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	1,617,129	27,703	360,442	2,005,274
Additions	141,945	717	-	142,662
At 31 December 2024	1,759,074	28,420	360,442	2,147,936
Depreciation
At 1 January 2024	771,111	24,524	221,610	1,017,245
Charge for the year	131,070	1,739	34,708	167,517
At 31 December 2024	902,181	26,263	256,318	1,184,762
Carrying amount
At 31 December 2024	856,893	2,157	104,124	963,174
At 31 December 2023	846,018	3,179	138,832	988,029

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

5

STOCK

	2024 £	2023 £
Stock and work in progress	1,496,350	1,975,430

6

DEBTORS

	2024 £	2023 £
Trade debtors	184,552	40,777
Prepayments	34,990	17,212
Other debtors	257,412	221,283
	476,954	279,272

7

CREDITORS

Creditors: amounts falling due within one year

		2024 £	2023 £
Due within one year
Loans and borrowings		65,159	62,690
Trade creditors		124,699	155,647
Taxation and social security		41,947	47,053
Accruals and deferred income		17,292	16,095
Other creditors		654,596	767,725
		903,693	1,049,210

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £65,159 (2023 - £62,690).

Creditors: amounts falling due after more than one year

		2024 £	2023 £
Due after one year
Loans and borrowings		58,306	28,064

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £58,306 (2023 - £28,064).