Company Registration No. SC606873 (Scotland)
Wilson Forbes Properties Ltd
Unaudited accounts
for the year ended 31 August 2023
Wilson Forbes Properties Ltd
Unaudited accounts
Contents
Wilson Forbes Properties Ltd
Company Information
for the year ended 31 August 2023
Directors
Mr A Forbes
Mrs A Forbes
Company Number
SC606873 (Scotland)
Registered Office
1 Stennis Gardens
Edinburgh
EH17 7QW
Accountants
GF Accountancy Services Ltd
4 Rowanhill Way
Port Seton
East Lothian
EH32 0SZ
Wilson Forbes Properties Ltd
Statement of financial position
as at 31 August 2023
Investment property
210,295
210,295
Cash at bank and in hand
24,516
19,917
Creditors: amounts falling due within one year
(2,916)
(3,124)
Net current assets
21,600
16,793
Total assets less current liabilities
231,895
227,088
Creditors: amounts falling due after more than one year
(197,654)
(198,337)
Called up share capital
2
2
Profit and loss account
34,239
28,749
Shareholders' funds
34,241
28,751
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by
Mrs A Forbes
Director
Company Registration No. SC606873
Wilson Forbes Properties Ltd
Notes to the Accounts
for the year ended 31 August 2023
Wilson Forbes Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC606873. The registered office is 1 Stennis Gardens, Edinburgh, EH17 7QW.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
(79,419)
(2,658)
-
(82,077)
Directors Loan
(79,418)
(2,659)
-
(82,077)
(158,837)
(5,317)
-
(164,154)
Wilson Forbes Properties Ltd
Notes to the Accounts
for the year ended 31 August 2023
5
Transactions with related parties
The company was under the common control of Mr Andrew Forbes and Mrs Ashleigh Forbes throughout the current and previous year. Mr and Mrs Forbes are managing directors and equal majority shareholders.
At the start of the year the company owed an amount of £79,419 to Mr Andrew Forbes in respect of amounts advanced to the company, during the year a further £2,658 was advanced to the company and the amount due to Mr Andrew Forbes at the balance sheet date was £82,077.
At the start of the year the company owed an amount of £79,418 to Mrs Ashleigh Forbes in respect of amounts advanced to the company, during the year a further £2,659 was advanced to the company and the amount due to Mrs Ashleigh Forbes at the balance sheet date was £82,077.
These amounts are still due to the directors at the balance sheet date and are included in creditors due over one year.
No interest was charged on these loans and there is no fixed date for repayment.
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).