Kingshouse Travel Limited

(Registration number: SC267852)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	5	11,340	11,340
Tangible assets	6	360,738	362,380
		372,078	373,720
Current assets
Debtors	7	53,271	45,497
Cash at bank and in hand		(10,296)	12,174
		42,975	57,671
Creditors: Amounts falling due within one year	8	(198,406)	(207,476)
Net current liabilities		(155,431)	(149,805)
Total assets less current liabilities		216,647	223,915
Creditors: Amounts falling due after more than one year	8	(43,992)	(53,943)
Provisions for liabilities		(55,615)	(55,947)
Net assets		117,040	114,025
Capital and reserves
Called up share capital	9	3	3
Retained earnings		117,037	114,022
Shareholders' funds		117,040	114,025

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 January 2026 and signed on its behalf by:
 

......................................... William Graeme Courtney Director

Kingshouse Travel Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Kingshouse
Balquhidder
Lochearnhead
FK19 8NY

These financial statements were authorised for issue by the Board on 14 January 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Kingshouse Travel Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings, equipment	10-30% p.a reducing balance basis
Vehicles	estimated year-end market value
Freehold land and buildings	none considered appropriate to date

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	none in the past year

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Kingshouse Travel Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2024 - 13).

Kingshouse Travel Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

4	Profit/loss before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	31,616	32,247

5	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 August 2024	21,000	21,000
At 31 July 2025	21,000	21,000
Amortisation
At 1 August 2024	9,660	9,660
At 31 July 2025	9,660	9,660
Carrying amount
At 31 July 2025	11,340	11,340
At 31 July 2024	11,340	11,340

6	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2024	83,345	50,613	557,867	691,825
Additions	-	267	36,206	36,473
Disposals	-	-	(21,000)	(21,000)
At 31 July 2025	83,345	50,880	573,073	707,298
Depreciation
At 1 August 2024	-	13,671	315,774	329,445
Charge for the year	-	6,209	25,406	31,615
Eliminated on disposal	-	-	(14,500)	(14,500)
At 31 July 2025	-	19,880	326,680	346,560
Carrying amount
At 31 July 2025	83,345	31,000	246,393	360,738
At 31 July 2024	83,345	36,942	242,093	362,380

Kingshouse Travel Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	40,225	22,035
Other debtors	13,046	23,462
	53,271	45,497

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	161,047	171,473
Trade creditors		13,572	12,300
Taxation and social security		10,501	12,228
Accruals and deferred income		7,371	10,904
Other creditors		5,915	571
		198,406	207,476

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	3	3	3	3

Kingshouse Travel Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	758	8,772
Hire purchase contracts	43,234	45,171
	43,992	53,943

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,239	10,239
Hire purchase contracts	29,660	22,102
Director current account	121,148	139,132
	161,047	171,473