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REGISTERED NUMBER: SC475044 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

WILLIAM DUNCAN (UK) LIMITED

WILLIAM DUNCAN (UK) LIMITED (REGISTERED NUMBER: SC475044)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WILLIAM DUNCAN (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Wm Williamson



REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT



REGISTERED NUMBER: SC475044 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Clydesdale Bank plc
43 Hamilton Road
Motherwell
ML1 3DD

WILLIAM DUNCAN (UK) LIMITED (REGISTERED NUMBER: SC475044)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 524,000 524,000
Tangible assets 5 4,045 5,104
528,045 529,104

CURRENT ASSETS
Stocks 42,990 41,279
Debtors 6 266,546 360,584
Cash at bank 213,517 252,921
523,053 654,784
CREDITORS
Amounts falling due within one year 7 467,272 538,715
NET CURRENT ASSETS 55,781 116,069
TOTAL ASSETS LESS CURRENT
LIABILITIES

583,826

645,173

CREDITORS
Amounts falling due after more than one year 8 (144,434 ) (211,106 )

PROVISIONS FOR LIABILITIES (663 ) (663 )
NET ASSETS 438,729 433,404

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 437,729 432,404
SHAREHOLDERS' FUNDS 438,729 433,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

WILLIAM DUNCAN (UK) LIMITED (REGISTERED NUMBER: SC475044)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2022


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2023 and were signed by:





Wm Williamson - Director


WILLIAM DUNCAN (UK) LIMITED (REGISTERED NUMBER: SC475044)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

William Duncan (UK) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services
Turnover from the rendering of services, namely the provision of accountancy, audit and taxation services, is recognised by reference to the stage of completion of the service at the statement of financial position date.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Impairment of assets
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 the income statement.

If an impairment loss subsequently reverses, the carrying 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 impairment loss is recognised immediately in the income statement.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

WILLIAM DUNCAN (UK) LIMITED (REGISTERED NUMBER: SC475044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

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 the income statement in the period to which they relate.

Provisions for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 20 ).

WILLIAM DUNCAN (UK) LIMITED (REGISTERED NUMBER: SC475044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 640,000
AMORTISATION
At 1 January 2022
and 31 December 2022 116,000
NET BOOK VALUE
At 31 December 2022 524,000
At 31 December 2021 524,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 4,028 12,739 16,767
DEPRECIATION
At 1 January 2022 2,650 9,013 11,663
Charge for year 348 711 1,059
At 31 December 2022 2,998 9,724 12,722
NET BOOK VALUE
At 31 December 2022 1,030 3,015 4,045
At 31 December 2021 1,378 3,726 5,104

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 266,546 326,546
Other debtors - 6,278
Prepayments - 27,760
266,546 360,584

WILLIAM DUNCAN (UK) LIMITED (REGISTERED NUMBER: SC475044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 66,672 66,672
Corporation tax 111,429 153,930
P.A.Y.E. and N.I.C. 17,711 14,464
VAT 22,982 24,972
Other creditors - 50,000
Balances due to clients 152,553 160,023
Director's loan 66,866 14,943
Accrued charges 29,059 53,711
467,272 538,715

Cash at bank includes clients' funds amounting to £160,023.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans 144,434 211,106