Kettle Collective Limited - Limited company accounts 25.1

REGISTERED NUMBER: SC425306 (Scotland)

Report of the Directors and

Unaudited Consolidated Financial Statements for the Year Ended 31 December 2024

for

Kettle Collective Limited

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

8

DIRECTORS:

C A Bone

A C Kettle

REGISTERED OFFICE:

90a George Street

Edinburgh

EH2 3DF

REGISTERED NUMBER:

SC425306 (Scotland)

ACCOUNTANTS:

Neil Nisbet & Co.

c/o Neil Nisbet & Co.

Thain House

226 Queensferry Road

Edinburgh

EH4 2BP

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

C A Bone

A C Kettle

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

C A Bone - Director

30 September 2025

TURNOVER

9,333,834

10,057,358

Cost of sales

-

471,746

GROSS PROFIT

9,333,834

9,585,612

Administrative expenses

7,421,285

6,632,419

1,912,549

2,953,193

Other operating income

182,785

(416,054

)

OPERATING PROFIT

4

2,095,334

2,537,139

Interest receivable and similar income

5,840

45,441

2,101,174

2,582,580

Interest payable and similar expenses

27,037

44,283

PROFIT BEFORE TAXATION

2,074,137

2,538,297

Tax on profit

(249,096

)

614,990

PROFIT FOR THE FINANCIAL YEAR

2,323,233

1,923,307

Profit attributable to:

Owners of the parent

2,323,233

1,923,307

FIXED ASSETS

Intangible assets

6

-

1,020

Tangible assets

7

267,858

204,971

Investments

8

-

267,858

205,991

CURRENT ASSETS

Debtors

9

11,605,445

6,669,014

Cash at bank

2,035,494

4,153,687

13,640,939

10,822,701

CREDITORS

Amounts falling due within one year

10

3,501,542

2,536,610

NET CURRENT ASSETS

10,139,397

8,286,091

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,407,255

8,492,082

CREDITORS

Amounts falling due after more than one year

11

(9,940

)

-

PROVISIONS FOR LIABILITIES

(33,250

)

(51,250

)

NET ASSETS

10,364,065

8,440,832

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

10,363,965

8,440,732

SHAREHOLDERS' FUNDS

10,364,065

8,440,832

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

C A Bone - Director

FIXED ASSETS

Intangible assets

6

-

1,020

Tangible assets

7

133,448

108,049

Investments

8

11,251

144,699

120,320

CURRENT ASSETS

Debtors

9

9,861,704

9,090,827

Cash at bank

613,898

1,127,287

10,475,602

10,218,114

CREDITORS

Amounts falling due within one year

10

2,312,107

2,528,457

NET CURRENT ASSETS

8,163,495

7,689,657

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,308,194

7,809,977

CREDITORS

Amounts falling due after more than one year

11

(9,940

)

-

PROVISIONS FOR LIABILITIES

(33,250

)

(51,250

)

NET ASSETS

8,265,004

7,758,727

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

8,264,904

7,758,627

SHAREHOLDERS' FUNDS

8,265,004

7,758,727

Company's profit for the financial year

906,277

1,902,471

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

C A Bone - Director

1.	STATUTORY INFORMATION

Kettle Collective 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 General 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.

Basis of consolidation

The functional currency of the Company is pounds sterling reflecting the primary economic environment in which it operates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

20% on cost

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Hire purchase and leasing commitments

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 group operates a defined contribution pension scheme. Contributions payable to the group'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 59 (2023 - 46 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.24

31.12.23

£

Depreciation - owned assets

117,820

102,669

Patents and licences amortisation

-

1,030

5.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	INTANGIBLE FIXED ASSETS

Group

Other

intangible

assets

£

COST

At 1 January 2024

10,298

Disposals

(10,298

)

At 31 December 2024

-

AMORTISATION

At 1 January 2024

9,278

Eliminated on disposal

(9,278

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

1,020

Company

Other

intangible

assets

£

COST

At 1 January 2024

10,298

Disposals

(10,298

)

At 31 December 2024

-

AMORTISATION

At 1 January 2024

9,278

Eliminated on disposal

(9,278

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

1,020

7.	TANGIBLE FIXED ASSETS

Group

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

17,829

448,321

466,150

Additions

-

180,707

Disposals

(17,829

)

(116,582

)

(134,411

)

At 31 December 2024

-

512,446

DEPRECIATION

At 1 January 2024

17,829

243,350

261,179

Charge for year

-

117,820

Eliminated on disposal

(17,829

)

(116,582

)

(134,411

)

At 31 December 2024

-

244,588

NET BOOK VALUE

At 31 December 2024

-

267,858

At 31 December 2023

-

204,971

Company

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

17,829

328,506

346,335

Additions

-

103,765

Disposals

(17,829

)

(116,582

)

(134,411

)

At 31 December 2024

-

315,689

DEPRECIATION

At 1 January 2024

17,829

220,457

238,286

Charge for year

-

78,366

Eliminated on disposal

(17,829

)

(116,582

)

(134,411

)

At 31 December 2024

-

182,241

NET BOOK VALUE

At 31 December 2024

-

133,448

At 31 December 2023

-

108,049

8.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

11,251

NET BOOK VALUE

At 31 December 2024

11,251

At 31 December 2023

11,251

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

Trade debtors

9,259,962

6,214,018

5,256,327

5,656,038

Amounts owed by group undertakings

-

3,823,917

3,003,578

Other debtors

2,345,483

454,996

781,460

431,211

11,605,445

6,669,014

9,861,704

9,090,827

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

Hire purchase contracts

6,414

-

6,414

-

Trade creditors

1,932,616

1,134,180

1,395,601

1,132,027

Taxation and social security

185,221

766,189

82,252

772,837

Other creditors

1,377,291

636,241

827,840

623,593

3,501,542

2,536,610

2,312,107

2,528,457

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group

Company

31.12.24

31.12.23

31.12.24

31.12.23

£

Hire purchase contracts

9,940

-

9,940

-