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Company Registration No. NI659422 (Northern Ireland)
Scott Willis Designs Ltd Unaudited accounts for the year ended 31 August 2023
Scott Willis Designs Ltd Unaudited accounts Contents
Page
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Scott Willis Designs Ltd Company Information for the year ended 31 August 2023
Director
Robert Scott Willis
Company Number
NI659422 (Northern Ireland)
Registered Office
5 VICEROYS WOOD BANGOR BT19 1WF NORTHERN IRELAND
Accountants
DJB Accounting Ltd 34 Knockmoyle Drive Greystone Road Antrim BT41 1HE
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Scott Willis Designs Ltd Accountants' report
Accountants' report to the director of Scott Willis Designs Ltd on the preparation of the unaudited statutory accounts for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Scott Willis Designs Ltd for the year ended 31 August 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Scott Willis Designs Ltd, as a body, in accordance with the terms of our engagement letter dated 1 June 2021. Our work has been undertaken solely to prepare for your approval the accounts of Scott Willis Designs Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scott Willis Designs Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Scott Willis Designs Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Scott Willis Designs Ltd. You consider that Scott Willis Designs Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Scott Willis Designs Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
DJB Accounting Ltd 34 Knockmoyle Drive Greystone Road Antrim BT41 1HE 10 October 2023
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Scott Willis Designs Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,981 
8,244 
Current assets
Inventories
18,719 
24,958 
Debtors
33,108 
23,659 
Cash at bank and in hand
10,680 
(1,410)
62,507 
47,207 
Creditors: amounts falling due within one year
(41,513)
(36,035)
Net current assets
20,994 
11,172 
Net assets
26,975 
19,416 
Capital and reserves
Profit and loss account
26,975 
19,416 
Shareholders' funds
26,975 
19,416 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 October 2023 and were signed on its behalf by
Robert Scott Willis Director Company Registration No. NI659422
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Scott Willis Designs Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Scott Willis Designs Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI659422. The registered office is 5 VICEROYS WOOD, BANGOR, BT19 1WF, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Straight Line
Computer equipment
25% Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Scott Willis Designs Ltd Notes to the Accounts for the year ended 31 August 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director shall continue to adopt the going concern basis of accounting in preparing the financial statements.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
9,600 
1,373 
10,973 
At 31 August 2023
9,600 
1,373 
10,973 
Depreciation
At 1 September 2022
1,920 
809 
2,729 
Charge for the year
1,920 
343 
2,263 
At 31 August 2023
3,840 
1,152 
4,992 
Net book value
At 31 August 2023
5,760 
221 
5,981 
At 31 August 2022
7,680 
564 
8,244 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
33,108 
23,659 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
11,816 
7,519 
Taxes and social security
4,182 
- 
Other creditors
15,586 
28,442 
Loans from directors
9,929 
74 
41,513 
36,035 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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