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REGISTERED NUMBER: SC280457 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

G D WILSON LIMITED

G D WILSON LIMITED (REGISTERED NUMBER: SC280457)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G D WILSON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr G D Wilson
Mrs A L Wilson





SECRETARY: Mrs A L Wilson





REGISTERED OFFICE: Turtory
Bridge of Marnoch
Huntly
Aberdeenshire
AB54 7UJ





REGISTERED NUMBER: SC280457 (Scotland)





ACCOUNTANTS: Bain Henry Reid
51-53 High Street
Turriff
AB53 4EJ

G D WILSON LIMITED (REGISTERED NUMBER: SC280457)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,860 -
Tangible assets 5 2,142,129 637,345
Investments 6 50 50
Herd basis 7 39,935 39,935
2,191,974 677,330

CURRENT ASSETS
Stocks 298,745 266,520
Debtors 8 28,007 190,905
Cash at bank and in hand 1,064,098 826,470
1,390,850 1,283,895
CREDITORS
Amounts falling due within one year 9 1,681,898 240,013
NET CURRENT (LIABILITIES)/ASSETS (291,048 ) 1,043,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,900,926

1,721,212

PROVISIONS FOR LIABILITIES 133,701 94,767
NET ASSETS 1,767,225 1,626,445

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,766,225 1,625,445
SHAREHOLDERS' FUNDS 1,767,225 1,626,445

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

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

G D WILSON LIMITED (REGISTERED NUMBER: SC280457)

BALANCE SHEET - continued
28 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:




Mr G D Wilson - Director



Mrs A L Wilson - Director


G D WILSON LIMITED (REGISTERED NUMBER: SC280457)

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


1. STATUTORY INFORMATION

G D Wilson 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 stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amount are recorded as Deferred income and included as part of Creditors due within one year.

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.

Intangible Assets are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% 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.

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 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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

G D WILSON LIMITED (REGISTERED NUMBER: SC280457)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 12,326
At 28 February 2023 12,326
AMORTISATION
Charge for year 2,466
At 28 February 2023 2,466
NET BOOK VALUE
At 28 February 2023 9,860

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 - 1,951,411 1,951,411
Additions 1,471,667 181,817 1,653,484
Disposals - (6,000 ) (6,000 )
At 28 February 2023 1,471,667 2,127,228 3,598,895
DEPRECIATION
At 1 March 2022 - 1,314,066 1,314,066
Charge for year - 142,700 142,700
At 28 February 2023 - 1,456,766 1,456,766
NET BOOK VALUE
At 28 February 2023 1,471,667 670,462 2,142,129
At 28 February 2022 - 637,345 637,345

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022
and 28 February 2023 50
NET BOOK VALUE
At 28 February 2023 50
At 28 February 2022 50

G D WILSON LIMITED (REGISTERED NUMBER: SC280457)

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


7. HERD BASIS
Herd
basis
£   
COST
At 1 March 2022
and 28 February 2023 39,935
NET BOOK VALUE
At 28 February 2023 39,935
At 28 February 2022 39,935

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,903 33,089
Sandyhills Development (Banff)
Ltd loan - 129,296
VAT 10,210 20,896
Prepayments and accrued income 5,894 7,624
28,007 190,905

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sandyhills Developments
(Banff) Ltd loan 1,230,336 -
Trade creditors 157,465 67,659
Tax 28,994 47,074
Social security and other taxes 1,848 5,237
Directors' loan accounts 258,115 115,043
Accruals and deferred income 5,140 5,000
1,681,898 240,013

10. DIRECTOR'S LOAN

The following advances and credits from directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mr G D Wilson and Mrs A L Wilson
Balance outstanding at start of year 115,043 111,963
Amounts advanced 156,000 12,743
Amounts repaid (12,928 ) (9,663 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 258,115 115,043

The loan is interest free and there are no fixed terms of repayment.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs G D Wilson.