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REGISTERED NUMBER: SC465354 (Scotland)















Welch Construction Limited

Unaudited Financial Statements for the Year Ended 31 August 2023






Welch Construction Limited (Registered number: SC465354)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Welch Construction Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: C A Welch (Snr)





REGISTERED OFFICE: Seaton House
Seaton Estate
Seaton Road
Seaton
Arbroath, Angus
DD11 5SE





REGISTERED NUMBER: SC465354 (Scotland)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Welch Construction Limited (Registered number: SC465354)

Statement of Financial Position
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,002 37,194

CURRENT ASSETS
Inventories 245,785 241,008
Debtors 5 329,476 344,504
Cash at bank 1,191 363
576,452 585,875
CREDITORS
Amounts falling due within one year 6 406,727 396,928
NET CURRENT ASSETS 169,725 188,947
TOTAL ASSETS LESS CURRENT LIABILITIES 201,727 226,141

PROVISIONS FOR LIABILITIES 2,921 8,835
NET ASSETS 198,806 217,306

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 198,805 217,305
198,806 217,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Welch Construction Limited (Registered number: SC465354)

Statement of Financial Position - continued
31 August 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 director and authorised for issue on 7 February 2024 and were signed by:





C A Welch (Snr) - Director


Welch Construction Limited (Registered number: SC465354)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Welch Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on cost and 20% on cost

Inventories
Inventories are measured 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 an appropriate proportion of attributable overheads according to the stage of manufacture/completion.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement.

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 statement of financial position date.


Welch Construction Limited (Registered number: SC465354)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 16,628 80,100 96,728
DEPRECIATION
At 1 September 2022 - 59,534 59,534
Charge for year - 5,192 5,192
At 31 August 2023 - 64,726 64,726
NET BOOK VALUE
At 31 August 2023 16,628 15,374 32,002
At 31 August 2022 16,628 20,566 37,194

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,000 19,000
Other debtors 321,476 325,504
329,476 344,504

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 74,759 79,752
Taxation and social security - 19,526
Other creditors 331,968 297,650
406,727 396,928

Welch Construction Limited (Registered number: SC465354)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. SECURED DEBTS

Assets of the company are held as security, in favour of the Bank of Scotland for any monies and liabilities due owing or incurred.