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REGISTERED NUMBER: SC264319 (Scotland)

KNOTS & CROSSES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 22ND MARCH 2025

KNOTS & CROSSES LIMITED (REGISTERED NUMBER: SC264319)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 22ND MARCH 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

KNOTS & CROSSES LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 22ND MARCH 2025

| DIRECTORS: | S Ewing-Mackie

| A W K McKay

| SECRETARY: | The PRG Partnership

| REGISTERED OFFICE: | 12A Bridgewater Place

| Erskine

| Renfrewshire

| PA8 7AA

| REGISTERED NUMBER: | SC264319 (Scotland)

| ACCOUNTANTS: | JRD Partnership Ltd

| Chartered Accountants

| 11 Portland Road

| Kilmarnock

| Ayrshire

| KA1 2BT

| BANKERS: | The Royal Bank of Scotland

| Kilmacolm Branch

| 10 St James Terrace

| Kilmacolm

| PA13 4HD

KNOTS & CROSSES LIMITED (REGISTERED NUMBER: SC264319)

BALANCE SHEET

22ND MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 79,912 |  | 79,912 |  |

79,912 |  | 79,912 |  |

CURRENT ASSETS

Debtors | 6 | 2,457 |  | 1,250 |  |

Cash at bank | 2,069 |  | 1,280 |  |

4,526 |  | 2,530 |  |

CREDITORS

Amounts falling due within one year | 7 | 25,507 |  | 33,777 |  |

NET CURRENT LIABILITIES | (20,981 | ) | (31,247 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 58,931 |  | 48,665 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 58,831 |  | 48,565 |  |

SHAREHOLDERS' FUNDS | 58,931 |  | 48,665 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 22nd March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 22nd 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.

KNOTS & CROSSES LIMITED (REGISTERED NUMBER: SC264319)

BALANCE SHEET - continued

22ND MARCH 2025

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 8th January 2026 and were signed on its behalf by:

S Ewing-Mackie - Director

A W K McKay - Director

KNOTS & CROSSES LIMITED (REGISTERED NUMBER: SC264319)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 22ND MARCH 2025

1. | STATUTORY INFORMATION

| Knots & Crosses 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.

| As at 22 March 2025 there were net current liabilities of £20,981 (2024 - £31,247). This deficiency is funded by the holding company, Hilly and Boo Limited. The financial statements have been prepared on a going concern basis and the directors of Hilly and Boo Limited have confirmed they will continue to support the company for the foreseeable future.

| 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.

| 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 | - | not provided

| Plant and machinery etc | - | 20% on cost

| 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.

3. | EMPLOYEES AND DIRECTORS

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

KNOTS & CROSSES LIMITED (REGISTERED NUMBER: SC264319)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 22ND MARCH 2025

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 23rd March 2024

| and 22nd March 2025 | 183,000 |  |

| AMORTISATION

| At 23rd March 2024

| and 22nd March 2025 | 183,000 |  |

| NET BOOK VALUE

| At 22nd March 2025 | - |  |

| At 22nd March 2024 | - |  |

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 23rd March 2024

| and 22nd March 2025 | 79,912 |  | 17,497 |  | 97,409 |  |

| DEPRECIATION

| At 23rd March 2024

| and 22nd March 2025 | - |  | 17,497 |  | 17,497 |  |

| NET BOOK VALUE

| At 22nd March 2025 | 79,912 |  | - |  | 79,912 |  |

| At 22nd March 2024 | 79,912 |  | - |  | 79,912 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 2,457 |  | 1,250 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 17,192 |  | 26,476 |  |

| Taxation and social security | 3,587 |  | 2,618 |  |

| Other creditors | 4,728 |  | 4,683 |  |

25,507 |  | 33,777 |  |

KNOTS & CROSSES LIMITED (REGISTERED NUMBER: SC264319)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 22ND MARCH 2025

8. | RELATED PARTY DISCLOSURES

| At the balance sheet date, an amount of £17,192 (2024 - £26,476) was due to the parent company, Hilly and Boo Limited. Bank borrowings in the parent company are secured over the property (note 5).

| Management charges of £512 (2024 - £1,079) were charged during the period by the parent company.