Silverfin false 31/03/2023 01/04/2022 31/03/2023 Iain Green 13/03/2013 19 October 2023 The principal activity of the Company during the financial year continued to be that of haulage company. SC445031 2023-03-31 SC445031 bus:Director1 2023-03-31 SC445031 2022-03-31 SC445031 core:CurrentFinancialInstruments 2023-03-31 SC445031 core:CurrentFinancialInstruments 2022-03-31 SC445031 core:Non-currentFinancialInstruments 2023-03-31 SC445031 core:Non-currentFinancialInstruments 2022-03-31 SC445031 core:ShareCapital 2023-03-31 SC445031 core:ShareCapital 2022-03-31 SC445031 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC445031 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC445031 core:LandBuildings 2022-03-31 SC445031 core:PlantMachinery 2022-03-31 SC445031 core:Vehicles 2022-03-31 SC445031 core:LandBuildings 2023-03-31 SC445031 core:PlantMachinery 2023-03-31 SC445031 core:Vehicles 2023-03-31 SC445031 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-03-31 SC445031 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-03-31 SC445031 core:CurrentFinancialInstruments core:Secured 2023-03-31 SC445031 bus:OrdinaryShareClass1 2023-03-31 SC445031 2022-04-01 2023-03-31 SC445031 bus:FullAccounts 2022-04-01 2023-03-31 SC445031 bus:SmallEntities 2022-04-01 2023-03-31 SC445031 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC445031 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC445031 bus:Director1 2022-04-01 2023-03-31 SC445031 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 SC445031 core:PlantMachinery 2022-04-01 2023-03-31 SC445031 core:Vehicles 2022-04-01 2023-03-31 SC445031 2021-04-01 2022-03-31 SC445031 core:LandBuildings 2022-04-01 2023-03-31 SC445031 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 SC445031 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 SC445031 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC445031 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC445031 (Scotland)

W J & J GREEN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

W J & J GREEN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

W J & J GREEN LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
W J & J GREEN LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 5,137,712 4,794,841
5,137,712 4,794,841
Current assets
Debtors 4 1,937,713 2,031,609
1,937,713 2,031,609
Creditors: amounts falling due within one year 5 ( 4,585,637) ( 4,315,834)
Net current liabilities (2,647,924) (2,284,225)
Total assets less current liabilities 2,489,788 2,510,616
Creditors: amounts falling due after more than one year 6 ( 809,727) ( 880,762)
Provision for liabilities ( 300,397) ( 262,448)
Net assets 1,379,664 1,367,406
Capital and reserves
Called-up share capital 7 500,000 500,000
Profit and loss account 879,664 867,406
Total shareholder's funds 1,379,664 1,367,406

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of W J & J Green Limited (registered number: SC445031) were approved and authorised for issue by the Director on 19 October 2023. They were signed on its behalf by:

Iain Green
Director
W J & J GREEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
W J & J GREEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W J & J Green Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Corskie Farm, Garmouth, IV32 7NN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

Although the company has net current liabilities of £2,647,924 (2022 - £2,284,225) the financial statements have been prepared on the going concern basis because the director is satisfied that sufficient funding is in place to ensure that all liabilities can be met as they fall due. In addition the director has confirmed that he will continue to support the company.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 20 % reducing balance
Vehicles 10 - 20 % reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies, are recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 48 45

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 April 2022 381,203 252,986 6,273,757 6,907,946
Additions 70,795 22,441 1,111,086 1,204,322
Disposals 0 0 ( 434,792) ( 434,792)
At 31 March 2023 451,998 275,427 6,950,051 7,677,476
Accumulated depreciation
At 01 April 2022 0 81,752 2,031,353 2,113,105
Charge for the financial year 8,545 35,435 628,181 672,161
Disposals 0 0 ( 245,502) ( 245,502)
At 31 March 2023 8,545 117,187 2,414,032 2,539,764
Net book value
At 31 March 2023 443,453 158,240 4,536,019 5,137,712
At 31 March 2022 381,203 171,234 4,242,404 4,794,841

4. Debtors

2023 2022
£ £
Trade debtors 1,601,868 1,838,014
Amounts owed by related parties 335,845 193,595
1,937,713 2,031,609

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts (secured) 2,614,891 1,980,123
Trade creditors 1,033,397 1,417,548
Other taxation and social security 155,523 99,492
Obligations under finance leases and hire purchase contracts (secured) 689,406 727,319
Other creditors 92,420 91,352
4,585,637 4,315,834

The bank overdraft is secured by a floating charge over all the assets of the company.

Net obligations under finance lease contracts are secured over the asset which the agreement relates.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 69,444 125,000
Obligations under finance leases and hire purchase contracts (secured) 740,283 755,762
809,727 880,762

Net obligations under finance lease contracts are secured over the asset which the agreement relates.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
500,000 Ordinary shares of £ 1.00 each 500,000 500,000

8. Related party transactions

Other related party transactions

2023 2022
£ £
Transactions with related parties - Consultancy fee 240,000 240,000
Amounts due from related parties 335,845 193,596

This loan is interest free and has no fixed terms of repayment.