John Smith & Sons (Kilmaurs Mains) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC394843 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026

FOR

JOHN SMITH & SONS (KILMAURS MAINS)

LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I G Smith

A C Smith

Mrs MCB Smith

REGISTERED OFFICE:

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

REGISTERED NUMBER:

SC394843 (Scotland)

ACCOUNTANTS:

Gilmour Hamilton LLP

Chartered Accountants

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

FIXED ASSETS

Tangible assets

4

1,938,488

1,832,688

CURRENT ASSETS

Stocks

485,524

459,997

Debtors

143,626

177,741

Cash at bank and in hand

741,183

606,156

1,370,333

1,243,894

CREDITORS

Amounts falling due within one year

317,019

286,303

NET CURRENT ASSETS

1,053,314

957,591

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,991,802

2,790,279

CREDITORS

Amounts falling due after more than one
year

(1,232,150

)

(1,283,409

)

PROVISIONS FOR LIABILITIES

(442,331

)

(376,052

)

NET ASSETS

1,317,321

1,130,818

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

1,316,321

1,129,818

SHAREHOLDERS' FUNDS

1,317,321

1,130,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2026 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 30 April 2026 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 10 August 2026 and were signed on its behalf by:

I G Smith - Director

1.	STATUTORY INFORMATION

John Smith & Sons (Kilmaurs Mains) 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.

The financial statements are presented in pounds sterling which is the functional currency of the company, rounded to the nearest pound.

Turnover

Turnover from the sale of milk and livestock is recognised when significant risks and rewards of ownership of have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Subsidies are recognised in turnover when there is reasonable assurance that the conditions attaching to the subsidy have been met, the amount of the subsidy can be measured reliably and it is probable that the economic benefits will flow to the company.

Contracting income is recognised when the company has earned right of consideration.

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 etc

-

25% on reducing balance, 20% on cost and 10% on cost

Stocks

Stocks, including livestock are stated at the lower of cost and estimated selling price less costs to sell. Provision is made for damaged,obsolete and slow-moving stock where appropriate.

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 that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over heir estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs

The company operates a defined contribution pension scheme. Contributions are charged to the income statement in the period to which they relate.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2025 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2025

4,920,881

Additions

1,022,753

Disposals

(523,960

)

At 30 April 2026

5,419,674

DEPRECIATION

At 1 May 2025

3,088,193

Charge for year

738,426

Eliminated on disposal

(345,433

)

At 30 April 2026

3,481,186

NET BOOK VALUE

At 30 April 2026

1,938,488

At 30 April 2025

1,832,688

Tangible fixed assets include assets with a net book value of £569,441 (2025 £474,061) held under hire purchase contracts.

5.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Hire purchase contracts

180,361

197,279

Hire purchase liabilities are secured over the assets funded.

6.	RELATED PARTY DISCLOSURES

During the year, the company operated rent free from land and buildings owned by the directors.

Creditors include the following loans from the directors:

2026

2025

£

Due within one year

30,000

30,0000

Due in more than one year

1,225,206

1,185,547

The loans are unsecured the current portion is repayable on demand. The long term portion has no fixed repayment terms. The loans bear interest at 5.75% and £71,034 (2024 £71,061) has been accrued in the accounts in that connection.