Kilgarth Development Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC193430 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2025

for

Kilgarth Development Company Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

C J French

P Nichols

REGISTERED OFFICE:

Fernbank

2/4 Allanshaw Gardens

Hamilton

Lanarkshire

ML3 8NU

REGISTERED NUMBER:

SC193430 (Scotland)

ACCOUNTANTS:

BFN Accounts & Tax Limited

Hillcrest

22 Church Street

Blakesley

Towcester

Northamptonshire

NN12 8RA

FIXED ASSETS

Tangible assets

4

650,637

CURRENT ASSETS

Debtors

5

20,000

Cash at bank

1,647

21,647

CREDITORS

Amounts falling due within one year

6

25,401

23,401

NET CURRENT LIABILITIES

(3,754

)

(1,754

)

TOTAL ASSETS LESS CURRENT LIABILITIES

646,883

648,883

CREDITORS

Amounts falling due after more than one year

7

2,429,091

2,348,936

NET LIABILITIES

(1,782,208

)

(1,700,053

)

CAPITAL AND RESERVES

Called up share capital

9

25,071

Share premium

2,755,969

Retained earnings

(4,563,248

)

(4,481,093

)

SHAREHOLDERS' FUNDS

(1,782,208

)

(1,700,053

)

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:

C J French - Director

1.	STATUTORY INFORMATION

Kilgarth Development Company 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.

Tangible fixed assets

The total amount in tangible fixed assets relates to the transfer from stock as detailed in note 4.

Depreciation is not provided on the basis of the valuation performed in March 2019 as detailed in note 4.

Going concern

The financial statements have been prepared on a going concern basis based upon the continued support of Kilgarth Investments Limited (See note 10).

Covid 19 & brexit

The Covid 19 global pandemic and Brexit are likely to have a significant impact on all businesses, however the partners are of the opinion that neither of these impending challenges will have a significant impact on the ability of the Company to meet its day to day working

capital requirements. The partners have confirmed they will ensure the Company actions all available government assistance during the Covid 19 pandemic that they feel necessary to ensure the Company remains financially stable. They have also confirmed they will continue to support the company during this uncertain time, and furthermore the partners are of the opinion that the requirement for the

services provided by Company is likely to increase as businesses seek to ensure their businesses are operating in the most tax efficient manner during this period of turmoil.

As a result of the partners assessment the Company is considered a going concern and the accounts have been prepared on this basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land

development

£

COST

At 1 July 2024

and 30 June 2025

650,637

NET BOOK VALUE

At 30 June 2025

650,637

At 30 June 2024

650,637

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

Prepayment deposit

20,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

Trade creditors

1

Accrued expenses

25,400

23,400

25,401

23,401

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.25

30.6.24

£

Amounts owed to group undertakings

2,429,091

2,348,936

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.25

30.6.24

£

Amounts owed to group

2,429,091

2,348,936

The loans are secured on all the assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

30.6.24

value:

£

2,497,000

Ordinary B

1p

24,970

10,000

Ordinary C

1p

100

1

Ordinary E

£1

1

25,071

10.	RELATED PARTY DISCLOSURES

On 23 June 2011 Kilgarth Investments Limited (KIL) acquired the whole of the issued share capital of the company.

At the 30 June 2025 the company owed £2,429,091 (2024: £2,348,936) to KIL. The amount is included in creditors over 1 year.

The loan is secured against the company's assets. During the year the interest charge on the loan amounted to £80,155 which is still outstanding at the year end.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Kilgarth Investments Limited.