REGISTERED NUMBER: SC372083 (Scotland)

Financial Statements

for the Year Ended 31 March 2025

for

Kilts 4 U Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Carlton

L L Carlton

I Carlton

REGISTERED OFFICE:

2 Erskine Square

Hillington Park

Lanarkshire

G52 4BJ

REGISTERED NUMBER:

SC372083 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Tangible assets

3

575,722

605,115

CURRENT ASSETS

Stocks

60,000

45,000

Debtors

4

23,302

41,341

Cash at bank

3,925

1,372

87,227

87,713

CREDITORS

Amounts falling due within one year

5

523,062

498,593

NET CURRENT LIABILITIES

(435,835

)

(410,880

)

TOTAL ASSETS LESS CURRENT LIABILITIES

139,887

194,235

CREDITORS

Amounts falling due after more than one year

6

(79,899

)

(85,083

)

PROVISIONS FOR LIABILITIES

7

(51,325

)

(47,896

)

NET ASSETS

8,663

61,256

CAPITAL AND RESERVES

Called up share capital

8

10

10

Retained earnings

8,653

61,246

SHAREHOLDERS' FUNDS

8,663

61,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 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 8 October 2025 and were signed on its behalf by:

Mrs S Carlton - Director

1.	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.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

The company operates a retail shop for the sale and hire of a range of products. Sales of goods and hires are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by credit or payment card and are net of value added taxation.

Tangible fixed assets

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

Hire stock

-

10% on reducing balance

Fittings & equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

10 - 33% straight line

Inventories

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.

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 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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 24 ) .

3.	TANGIBLE FIXED ASSETS

Hire

Fittings

Motor

Computer

stock

& equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

533,738

105,091

33,019

160,944

832,792

Additions

45,484

8,866

-

1,326

55,676

At 31 March 2025

579,222

113,957

33,019

162,270

888,468

DEPRECIATION

At 1 April 2024

118,167

30,537

17,004

61,969

227,677

Charge for year

46,106

12,513

4,004

22,446

85,069

At 31 March 2025

164,273

43,050

21,008

84,415

312,746

NET BOOK VALUE

At 31 March 2025

414,949

70,907

12,011

77,855

575,722

At 31 March 2024

415,571

74,554

16,015

98,975

605,115

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

5,099

27,641

Other debtors

18,203

13,700

23,302

41,341

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

20,000

50,814

Trade creditors

148,918

138,323

Taxation and social security

99,293

136,000

Other creditors

254,851

173,456

523,062

498,593

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

18,333

38,333

Other creditors

61,566

46,750

79,899

85,083

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

51,325

47,896

Deferred

tax

£

Balance at 1 April 2024

47,896

Charge to Income Statement during year

3,429

Balance at 31 March 2025

51,325

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10

Ordinary

1

10

10