KIRKWOOD_AND_COMPANY_LIMITED_30_Apr_2025_companies_house_set_of

Kirkwood And Company Limited

Statement of Financial Position

30 April 2025

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	1,880,000		1,880,000
Investments	6	818,320		851,148
		2,698,320		2,731,148
Current assets
Debtors	7	49,267		45,261
Investments	8	-		1
Cash at bank and in hand		39,972		140,423
		89,239		185,685
Creditors: amounts falling due within one year	9	(78,857	)	(60,384	)
Net current assets		10,382		125,301
Total assets less current liabilities		2,708,702		2,856,449
Capital and reserves
Called up share capital		373		373
Other reserves		127		127
Profit and loss account		2,708,202		2,855,949
Shareholders funds		2,708,702		2,856,449

For the year ending

30 April 2025

, 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 financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

12 December 2025

, and are signed on behalf of the board by:

A Pinder

Director

Company registration number:

SC015392

Kirkwood And Company Limited

Notes to the Financial Statements

Year ended

30 April 2025

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is

5 La Belle Place

Glasgow

G3 7LH

, Scotland.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

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.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

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.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £17,500 (2023 - £20,000) . There were no outstanding contributions at either year end.

4 Average number of employees

The average number of persons employed by the company during the year was nil (2024: nil).

5 Tangible assets

	Land and buildings
	£
Cost
At 1 May 2024 and 30 April 2025	1,880,000
Depreciation
At 1 May 2024 and 30 April 2025	-
Carrying amount
At 30 April 2025	1,880,000
At 30 April 2024	1,880,000

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Land and buildings	Land and buildings
	2025	2024
	£	£
Aggregate historical cost	2,181,040	2,181,040
Carrying amount	2,181,040	2,181,040

6 Investments

	Other investments other than loans
	£
Cost or valuation
At 1 May 2024	851,148
Revaluations	(32,828	)
At 30 April 2025	818,320
Impairment
At 1 May 2024 and 30 April 2025	-
Carrying amount
At 30 April 2025	818,320
At 30 April 2024	851,148

7 Debtors

	2025	2024
	£	£
Trade debtors	33,367	35,565
Other debtors	15,900	9,696
	49,267	45,261

8 Investments

	2025		2024
	£		£
Other current asset investments	-		1

9 Creditors: amounts falling due within one year

	2025	2024
	£	£
Taxation and social security	43,238	34,708
Other creditors	35,619	25,676
	78,857	60,384

10 Related party transactions

During the year, dividends totalling £240,000 (2023 - £60,000) were paid to the directors and shareholders.

11 Controlling party

There is no individual who controls the company