Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-30true2021-05-01falseNo description of principal activity77trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC029536 2021-05-01 2022-04-30 SC029536 2020-05-01 2021-04-30 SC029536 2022-04-30 SC029536 2021-04-30 SC029536 c:CompanySecretary1 2021-05-01 2022-04-30 SC029536 c:Director1 2021-05-01 2022-04-30 SC029536 c:Director2 2021-05-01 2022-04-30 SC029536 c:RegisteredOffice 2021-05-01 2022-04-30 SC029536 d:Buildings 2021-05-01 2022-04-30 SC029536 d:Buildings 2022-04-30 SC029536 d:Buildings 2021-04-30 SC029536 d:Buildings d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC029536 d:PlantMachinery 2021-05-01 2022-04-30 SC029536 d:PlantMachinery 2022-04-30 SC029536 d:PlantMachinery 2021-04-30 SC029536 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC029536 d:MotorVehicles 2021-05-01 2022-04-30 SC029536 d:MotorVehicles 2022-04-30 SC029536 d:MotorVehicles 2021-04-30 SC029536 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC029536 d:OfficeEquipment 2021-05-01 2022-04-30 SC029536 d:OfficeEquipment 2022-04-30 SC029536 d:OfficeEquipment 2021-04-30 SC029536 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC029536 d:OtherPropertyPlantEquipment 2021-05-01 2022-04-30 SC029536 d:OtherPropertyPlantEquipment 2022-04-30 SC029536 d:OtherPropertyPlantEquipment 2021-04-30 SC029536 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC029536 d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC029536 d:CurrentFinancialInstruments 2022-04-30 SC029536 d:CurrentFinancialInstruments 2021-04-30 SC029536 d:Non-currentFinancialInstruments 2022-04-30 SC029536 d:Non-currentFinancialInstruments 2021-04-30 SC029536 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 SC029536 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 SC029536 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 SC029536 d:Non-currentFinancialInstruments d:AfterOneYear 2021-04-30 SC029536 d:ShareCapital 2022-04-30 SC029536 d:ShareCapital 2021-04-30 SC029536 d:RetainedEarningsAccumulatedLosses 2022-04-30 SC029536 d:RetainedEarningsAccumulatedLosses 2021-04-30 SC029536 c:OrdinaryShareClass1 2021-05-01 2022-04-30 SC029536 c:OrdinaryShareClass1 2022-04-30 SC029536 c:OrdinaryShareClass1 2021-04-30 SC029536 c:FRS102 2021-05-01 2022-04-30 SC029536 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 SC029536 c:FullAccounts 2021-05-01 2022-04-30 SC029536 c:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 SC029536 6 2021-05-01 2022-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC029536










G W STIRLING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

 
G W STIRLING LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mrs F K Stirling 
Mr G W Stirling 




COMPANY SECRETARY
G W Stirling



REGISTERED NUMBER
SC029536



REGISTERED OFFICE
Dickmontlaw

Arbroath

Angus

DD11 5RD




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
G W STIRLING LIMITED
REGISTERED NUMBER: SC029536

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2022

2022
2021
£
£

FIXED ASSETS
  

Tangible assets
 4 
6,947,684
7,131,360

Investments
 5 
6,393
5,059

  
6,954,077
7,136,419

CURRENT ASSETS
  

Stocks
  
555,552
540,044

Debtors
 6 
324,818
228,416

  
880,370
768,460

Creditors: amounts falling due within one year
 7 
(3,003,400)
(3,026,678)

NET CURRENT LIABILITIES
  
 
 
(2,123,030)
 
 
(2,258,218)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
4,831,047
4,878,201

Creditors: amounts falling due after more than one year
 8 
(2,615,438)
(2,866,356)

PROVISIONS FOR LIABILITIES
  

Deferred Tax
  
(207,401)
(236,840)

  
 
 
(207,401)
 
 
(236,840)

NET ASSETS
  
2,008,208
1,775,005


CAPITAL AND RESERVES
  

Called up share capital 
  
15,000
15,000

Profit and loss account
  
1,993,208
1,760,005

  
2,008,208
1,775,005


Page 1

 
G W STIRLING LIMITED
REGISTERED NUMBER: SC029536

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 September 2022.




Mr G W Stirling
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
G W STIRLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

1.


GENERAL INFORMATION

G W Stirling Limited is a limited company incorporated in Scotland, limited by shares. The registered office is Dickmontlaw, Arbroath, Angus, DD11 5RD. The company registration number is SC029536.
                                                                                                                                                                                                                                                                                                                                                                                                                              The financial statements are presented in Sterling which is the functional currency of the Company and
rounded to the nearest £. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
G W STIRLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

CURRENT AND DEFERRED TAXATION

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Heritable property
-
2% straight line
Plant and Machinery
-
12.5% reducing balance
Motor Vehicles
-
25% reducing balance
Solar panels
-
5% straight line
Property improvements
-
2% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
G W STIRLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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, loans to related parties and investments in ordinary shares.

  
2.10

EU SUPPORT SCHEMES

Income from the Basic Payment Scheme is not recognised until 31 December of the relevant scheme year, when all conditions of the scheme have been complied with.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 7 (2021 - 7).

Page 5

 
G W STIRLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

4.


TANGIBLE FIXED ASSETS





Heritable property
Property improvements
Plant and Machinery
Motor Vehicles
Solar panels
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 May 2021
5,509,928
503,627
1,928,075
39,500
80,272
8,061,402


Additions
-
-
1,815
-
-
1,815



At 30 April 2022

5,509,928
503,627
1,929,890
39,500
80,272
8,063,217



DEPRECIATION


At 1 May 2021
106,452
83,055
690,104
22,836
27,595
930,042


Charge for the year on owned assets
3,234
19,099
154,978
4,166
4,014
185,491



At 30 April 2022

109,686
102,154
845,082
27,002
31,609
1,115,533



NET BOOK VALUE



At 30 April 2022
5,400,242
401,473
1,084,808
12,498
48,663
6,947,684



At 30 April 2021
5,403,476
420,572
1,237,971
16,664
52,677
7,131,360


5.


FIXED ASSET INVESTMENTS





Listed Investments
Trade investments
Total

£
£
£



COST OR VALUATION


At 1 May 2021
5,009
50
5,059


Revaluations
1,334
-
1,334



At 30 April 2022
6,343
50
6,393




Page 6

 
G W STIRLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

6.


DEBTORS


2022
2021
£
£



Trade debtors
305,342
211,801

Other debtors
19,476
16,615

324,818
228,416



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
2021
£
£

Bank overdrafts
328,292
329,968

Bank loans
142,008
159,346

Other loans
873,258
758,210

Trade creditors
206,749
133,409

Other taxation and social security
51,781
-

Obligations under finance lease and hire purchase contracts
126,131
157,762

Other creditors
1,255,926
1,487,983

Accruals and deferred income
19,255
-

3,003,400
3,026,678


The following liabilities were secured:

2022
2021
£
£



Bank loans
142,008
159,346

Hire purchase creditors
126,131
157,762

268,139
317,108

Details of security provided:

The loans are secured by a floating charge over the land and farms at Dickmontlaw, Boghead and Bankfoot.
The hire purchase creditors are secured against the underlying asset purchased.

Page 7

 
G W STIRLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022
2021
£
£

Bank loans
2,558,244
2,682,913

Net obligations under finance leases and hire purchase contracts
57,194
183,443

2,615,438
2,866,356


The following liabilities were secured:

2022
2021
£
£



Bank loans
2,558,244
2,682,913

Hire purchase obilgations
57,194
200,043

2,615,438
2,882,956

Details of security provided:

The loans are secured by a floating charge over the land and farms at Dickmontlaw, Boghead and Bankfoot.
The hire purchase creditors are secured against the underlying asset purchased.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2022
2021
£
£


Repayable by instalments
1,990,214
2,061,026

1,990,214
2,061,026




9.


SHARE CAPITAL

2022
2021
£
£
ALLOTTED, CALLED UP AND FULLY PAID



15,000 (2021 - 15,000) Ordinary shares of £1.00 each
15,000
15,000



Page 8