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W. & D. ALLAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023






W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

W. & D. ALLAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: Mrs W M Ballantyne
L R Ballantyne





SECRETARY: Mrs W M Ballantyne





REGISTERED OFFICE: Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT





REGISTERED NUMBER: SC041711 (Scotland)





ACCOUNTANTS: JRW
Chartered Accountants
Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT

W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,331 30,887
Herd basis 5 14,165 14,325
48,496 45,212

CURRENT ASSETS
Stocks 21,410 17,610
Debtors 6 2,609 6,803
24,019 24,413
CREDITORS
Amounts falling due within one year 7 87,140 87,029
NET CURRENT LIABILITIES (63,121 ) (62,616 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(14,625

)

(17,404

)

CREDITORS
Amounts falling due after more than one
year

8

17,536

24,776
NET LIABILITIES (32,161 ) (42,180 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (32,261 ) (42,280 )
SHAREHOLDERS' FUNDS (32,161 ) (42,180 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 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.

W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711)

BALANCE SHEET - continued
28TH FEBRUARY 2023


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 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 23rd November 2023 and were signed on its behalf by:





L R Ballantyne - Director


W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

W. & D. Allan 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on cost
Plant and machinery - 10% on reducing balance
Tractors - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income and Expenditure Account.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities is payment is due within one year or less. If not they are presented as non-current liabilities.
Financial liabilities are decolonised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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 have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
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 their estimated useful lives or the lease term, whichever is the shorter.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Tractors
£    £    £   
COST
At 1st March 2022 11,302 14,939 30,500
Additions - - 27,000
Disposals - (2,010 ) (30,500 )
At 28th February 2023 11,302 12,929 27,000
DEPRECIATION
At 1st March 2022 6,628 12,859 14,886
Charge for year 213 162 5,400
Eliminated on disposal - (1,547 ) (14,886 )
At 28th February 2023 6,841 11,474 5,400
NET BOOK VALUE
At 28th February 2023 4,461 1,455 21,600
At 28th February 2022 4,674 2,080 15,614

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st March 2022 13,000 249 69,990
Additions - - 27,000
Disposals - - (32,510 )
At 28th February 2023 13,000 249 64,480
DEPRECIATION
At 1st March 2022 4,680 50 39,103
Charge for year 1,664 40 7,479
Eliminated on disposal - - (16,433 )
At 28th February 2023 6,344 90 30,149
NET BOOK VALUE
At 28th February 2023 6,656 159 34,331
At 28th February 2022 8,320 199 30,887

W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Tractors vehicles Totals
£    £    £   
COST
At 1st March 2022 30,500 13,000 43,500
Additions 27,000 - 27,000
Disposals (30,500 ) - (30,500 )
At 28th February 2023 27,000 13,000 40,000
DEPRECIATION
At 1st March 2022 10,004 4,680 14,684
Charge for year 5,400 1,664 7,064
Eliminated on disposal (10,004 ) - (10,004 )
At 28th February 2023 5,400 6,344 11,744
NET BOOK VALUE
At 28th February 2023 21,600 6,656 28,256
At 28th February 2022 20,496 8,320 28,816

5. HERD BASIS
Herd
basis
£   
COST
At 1st March 2022 14,325
Disposals (160 )
At 28th February 2023 14,165
NET BOOK VALUE
At 28th February 2023 14,165
At 28th February 2022 14,325

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,609 1,105
Other debtors - 5,698
2,609 6,803

W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,101 10,899
Hire purchase contracts 6,660 4,800
Trade creditors 3,991 2,758
Taxation and social security 729 -
Other creditors 63,659 68,572
87,140 87,029

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 4,673 9,193
Hire purchase contracts 12,863 15,583
17,536 24,776

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company was due £52,067 to Mrs W M Ballantyne (Director) (2022 £51,257), and £7,791 to Mr L R Ballantyne (Director) (2022 £6,433).

10. GOING CONCERN

The Directors have considered the potential impact of the ongoing COVID-19 pandemic on the business. The Directors have sufficient funds to continue to support the company for the foreseeable future and will not call on their loan account. As a result, the Directors believe that the company will continue as a going concern and the accounts have been prepared on this basis.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr L R Ballantyne by virtue of his shareholding.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
W. & D. ALLAN LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W. & D. Allan Limited for the year ended 28th February 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of W. & D. Allan Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W. & D. Allan Limited and state those matters that we have agreed to state to the Board of Directors of W. & D. Allan Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that W. & D. Allan Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W. & D. Allan Limited. You consider that W. & D. Allan Limited 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 financial statements of W. & D. Allan Limited. 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 financial statements.






JRW
Chartered Accountants
Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT


23rd November 2023