REGISTERED NUMBER: SC264319 (Scotland)

KNOTS & CROSSES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 22ND MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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.

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

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 ) .

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

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.