REGISTERED NUMBER: SC264010 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

KEVIN SMITH SLATERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Smith

SECRETARY:

I Smith

REGISTERED OFFICE:

33 Lochtyview Way

Thornton

Kirkcaldy

KY1 4BL

REGISTERED NUMBER:

SC264010 (Scotland)

ACCOUNTANTS:

S&W Partners (Scotland) Limited

Cluny Court

John Smith Business Park

Kirkcaldy

Fife

KY2 6QJ

FIXED ASSETS

Tangible assets

4

32,536

30,917

CURRENT ASSETS

Stocks

2,500

3,025

Debtors

5

112,277

154,410

Cash at bank and in hand

123,023

112,623

237,800

270,058

CREDITORS

Amounts falling due within one year

6

(70,643

)

(42,419

)

NET CURRENT ASSETS

167,157

227,639

TOTAL ASSETS LESS CURRENT LIABILITIES

199,693

258,556

PROVISIONS FOR LIABILITIES

(1,484

)

(7,729

)

NET ASSETS

198,209

250,827

CAPITAL AND RESERVES

Called up share capital

7

4

4

Retained earnings

198,205

250,823

SHAREHOLDERS' FUNDS

198,209

250,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 June 2026 and were signed by:

K Smith - Director

1.	STATUTORY INFORMATION

Kevin Smith Slaters 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

TURNOVER

Turnover represents the net value of invoiced work done, excluding value added tax, relating to the installation of roofs on new houses.

Turnover is recognised on completion of work.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% per annum reducing balance

Motor vehicles

-

25% per annum reducing balance

Fixed assets are initially recorded at cost.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2025

59,259

85,190

144,449

Additions

2,134

25,844

27,978

Disposals

(42,814

)

(59,305

)

(102,119

)

At 31 March 2026

18,579

51,729

70,308

DEPRECIATION

At 1 April 2025

49,781

63,751

113,532

Charge for year

1,855

6,693

8,548

Eliminated on disposal

(40,292

)

(44,016

)

(84,308

)

At 31 March 2026

11,344

26,428

37,772

NET BOOK VALUE

At 31 March 2026

7,235

25,301

32,536

At 31 March 2025

9,478

21,439

30,917

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

79,853

35,640

Other debtors

32,424

118,770

112,277

154,410

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

35,449

26,198

Taxation and social security

3,609

7,419

Other creditors

31,585

8,802

70,643

42,419

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

NIL

Ordinary £1

£1

-

4

120

Ordinary £0.01 A Shares

1p

1

-

84

Ordinary £0.01 B Shares

1p

1

-

100

Ordinary £0.01 C shares

1p

1

-

96

Ordinary £0.01 D Shares

1p

1

-

4

4

During the year, there was a share restructure which resulted in Ordinary shares being split into A, B, C and D Ordinary shares.

The shares rank parri passu except rights to a varying dividend as a class of share.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

£

K Smith

Balance outstanding at start of year

102,258

47,973

Amounts advanced

12,400

56,314

Amounts repaid

(102,382

)

(2,029

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,276

102,258

9.	RELATED PARTY DISCLOSURES

Included within "Other debtors" is a balance of £12,276 (2025 - £102,258 ) due from the director to the company. Interest was charged at 3.75% on the balance over £10,000 and there are no agreed terms of repayment.