REGISTERED NUMBER: SC217626 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

GLENISLA KILTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Culbert

T Feeney

R S Gilmour

SECRETARY:

J Culbert

REGISTERED OFFICE:

Braidhurst Industrial Estate

Motherwell

ML1 3ST

REGISTERED NUMBER:

SC217626 (Scotland)

ACCOUNTANTS:

McDaid & Partners

Stanley House

69/71 Hamilton Road

Motherwell

Lanarkshire

ML1 3DG

FIXED ASSETS

Tangible assets

4

58,469

58,543

CURRENT ASSETS

Stocks

33,443

20,360

Debtors

5

236,380

263,725

Cash at bank

175,739

326,738

445,562

610,823

CREDITORS

Amounts falling due within one year

6

408,558

402,182

NET CURRENT ASSETS

37,004

208,641

TOTAL ASSETS LESS CURRENT LIABILITIES

95,473

267,184

CREDITORS

Amounts falling due after more than one year

7

(26,478

)

(68,797

)

PROVISIONS FOR LIABILITIES

(5,284

)

(6,391

)

NET ASSETS

63,711

191,996

CAPITAL AND RESERVES

Called up share capital

41

41

Capital redemption reserve

59

59

Retained earnings

63,611

191,896

SHAREHOLDERS' FUNDS

63,711

191,996

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 2 December 2025 and were signed on its behalf by:

J Culbert - Director

R S Gilmour - Director

1.	STATUTORY INFORMATION

Glenisla Kilts 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 Company 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.

Turnover

Turnover is stated net of VAT. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

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

Plant & machinery

-

15% on reducing balance

Fixtures & fittings

-

15% on reducing balance

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.

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.

Government grants

Scottish Enterprise grant was received in 2016. This have been credited to a reserve account to match expenditure on fixed assets. The grants are being released to the Profit and Loss Account at the same rate as Plant & machinery is depreciated.

Additional Government grants are eligible for recognition within the financial statements once they become receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2024 - 54 ) .

4.	TANGIBLE FIXED ASSETS

Plant &

Fixtures

machinery

& fittings

Totals

£

£

£

COST

At 1 July 2024

186,615

6,912

193,527

Additions

9,287

-

9,287

At 30 June 2025

195,902

6,912

202,814

DEPRECIATION

At 1 July 2024

128,453

6,531

134,984

Charge for year

9,304

57

9,361

At 30 June 2025

137,757

6,588

144,345

NET BOOK VALUE

At 30 June 2025

58,145

324

58,469

At 30 June 2024

58,162

381

58,543

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade debtors

143,302

256,066

Other debtors

93,078

7,659

236,380

263,725

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Bank loans and overdrafts

40,000

40,000

Trade creditors

171,894

112,940

Taxation and social security

136,494

161,418

Other creditors

60,170

87,824

408,558

402,182

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.25

30.6.24

£

£

Bank loans

13,333

53,333

Other creditors

13,145

15,464

26,478

68,797

8.	LEASING AGREEMENTS

At the year end the company had operating lease commitments of £48,721.

9.	SECURED DEBTS

The Governor and Company of the Bank of Scotland hold a bond & floating charge over the assets of the company.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2025 and 30 June 2024:

30.6.25

30.6.24

£

£

J Culbert

Balance outstanding at start of year

35,303

13,803

Amounts advanced

-

33,600

Amounts repaid

(29,381

)

(12,100

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,922

35,303

R S Gilmour

Balance outstanding at start of year

9,068

(832

)

Amounts advanced

-

16,000

Amounts repaid

(21,284

)

(6,100

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(12,216

)

9,068

T Feeney

Balance outstanding at start of year

9,068

(832

)

Amounts advanced

-

16,000

Amounts repaid

(18,381

)

(6,100

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(9,313

)

9,068

M Richmond

Balance outstanding at start of year

-

-

Amounts repaid

(8,776

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(8,776

)

-

Loans to and from the directors are interest free and repayable on demand.