Kenny's Autos Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC375551

Kenny's Autos Limited

Filleted Unaudited Financial Statements

30 April 2025

Kenny's Autos Limited

Statement of Financial Position

30 April 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		496,266	456,745

Current assets

Stocks		4,451	4,785
Debtors	7	12,638	11,564
Cash at bank and in hand		99,116	96,222
		---------	---------
		116,205	112,571

Creditors: amounts falling due within one year	8	161,220		217,947
		---------		---------
Net current liabilities			45,015	105,376
			---------	---------
Total assets less current liabilities			451,251	351,369

Creditors: amounts falling due after more than one year	9		71,165	57,952

Provisions

Taxation including deferred tax	20,498	12,046
	---------	---------
Net assets	359,588	281,371
	---------	---------

Capital and reserves

Called up share capital	4	4
Profit and loss account	359,584	281,367
	---------	---------
Shareholders funds	359,588	281,371
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Kenny's Autos Limited

Statement of Financial Position (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 14 January 2026 , and are signed on behalf of the board by:

Mr K Denoon
Director

Company registration number: SC375551

Kenny's Autos Limited

Notes to the Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 20 Seafield Road, Inverness, IV1 1SG, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill paid on the acquisition of a business on 1 May 2010 is being written off on a straight line basis over its estimated useful life of 10 years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	Straight line varying between 6.25% and 25%
Motor vehicles	-	Straight line varying between 20% and 50%
Equipment	-	Straight line varying between 12.5% and 25%

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. For work-in-progress, cost is taken as cost to date including an appropriate proportion of overheads.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 5 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2024 and 30 April 2025	40,000
	--------
Amortisation
At 1 May 2024 and 30 April 2025	40,000
	--------
Carrying amount
At 30 April 2025	–
	--------
At 30 April 2024	–
	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 May 2024	395,700	64,938	71,237	110	531,985
Additions	–	636	58,839	233	59,708
	---------	--------	---------	----	---------
At 30 April 2025	395,700	65,574	130,076	343	591,693
	---------	--------	---------	----	---------
Depreciation
At 1 May 2024	–	53,105	22,108	27	75,240
Charge for the year	–	3,325	16,776	86	20,187
	---------	--------	---------	----	---------
At 30 April 2025	–	56,430	38,884	113	95,427
	---------	--------	---------	----	---------
Carrying amount
At 30 April 2025	395,700	9,144	91,192	230	496,266
	---------	--------	---------	----	---------
At 30 April 2024	395,700	11,833	49,129	83	456,745
	---------	--------	---------	----	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 30 April 2025	80,161
	--------
At 30 April 2024	47,444
	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	9,420	9,193
Other debtors	3,218	2,371
	--------	--------
	12,638	11,564
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	7,895	10,234
Trade creditors	9,163	9,390
Corporation tax	20,350	25,692
Social security and other taxes	16,028	21,155
Pension creditor	196	191
Other creditors	107,588	151,285
	---------	---------
	161,220	217,947
	---------	---------

The Royal Bank of Scotland holds the following security:-

- Standard Security over the business premises at 20 Seafield Road, Inverness, IV1 1SG

- Bond and Floating Charge over the assets of the company.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	11,375
Other creditors	71,165	46,577
	--------	--------
	71,165	57,952
	--------	--------

The Royal Bank of Scotland holds the following security:-

- Standard Security over the business premises at 20 Seafield Road, Inverness, IV1 1SG

- Bond and Floating Charge over the assets of the company.

The bank loans falling due after more than five years are repayable by instalments at a fixed rate of 4.75% for the first three years after which the interest charged reverts to the standard rate.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	26,064	26,064
Later than 1 year and not later than 5 years	65,300	76,364
Later than 5 years	557,500	572,500
	---------	---------
	648,864	674,928
	---------	---------

During the year to 30 April 2025 there were payments towards operating leases which amounted to £26,148 (2024 - £28,581).

11. Related party transactions

At 30 April 2025 the company was due the director £ 97,900 (2024 - £145,694). This loan is interest free and has no definite terms of repayment.