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REGISTERED NUMBER: SC039257 (Scotland)














Unaudited Financial Statements

for the Year Ended 28 November 2023

for

Wilwall (Properties) Limited

Wilwall (Properties) Limited (Registered number: SC039257)






Contents of the Financial Statements
for the Year Ended 28 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wilwall (Properties) Limited

Company Information
for the Year Ended 28 November 2023







DIRECTORS: Mrs M E Wallace
J F Wallace





SECRETARY: J F Wallace





REGISTERED OFFICE: 37 Royal Crescent
Dunoon
ARGYLL
PA23 7AQ





REGISTERED NUMBER: SC039257 (Scotland)





ACCOUNTANTS: Henderson & Company
160 Argyll Street
Dunoon
ARGYLL
PA23 7NA

Wilwall (Properties) Limited (Registered number: SC039257)

Balance Sheet
28 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 322,725 318,100

CURRENT ASSETS
Cash at bank 2,040 937

CREDITORS
Amounts falling due within one year 5 4,131 4,508
NET CURRENT LIABILITIES (2,091 ) (3,571 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,634

314,529

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 6 308,641 303,941
Retained earnings 11,893 10,488
320,634 314,529

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

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

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 5 April 2024 and were signed on its behalf by:





J F Wallace - Director


Wilwall (Properties) Limited (Registered number: SC039257)

Notes to the Financial Statements
for the Year Ended 28 November 2023

1. STATUTORY INFORMATION

Wilwall (Properties) 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 as modified by the revaluation of certain assets.

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.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Wilwall (Properties) Limited (Registered number: SC039257)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 29 November 2022 317,800 18,428 336,228
Revaluations 4,700 - 4,700
At 28 November 2023 322,500 18,428 340,928
DEPRECIATION
At 29 November 2022 - 18,128 18,128
Charge for year - 75 75
At 28 November 2023 - 18,203 18,203
NET BOOK VALUE
At 28 November 2023 322,500 225 322,725
At 28 November 2022 317,800 300 318,100

Cost or valuation at 28 November 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2015 263,419 - 263,419
Valuation in 2016 4,500 - 4,500
Valuation in 2017 7,000 - 7,000
Valuation in 2021 7,600 - 7,600
Valuation in 2022 6,200 - 6,200
Valuation in 2023 4,700 - 4,700
Cost 29,081 18,428 47,509
322,500 18,428 340,928

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 29,081 29,081

Freehold Land and Buildings were valued on an open market basis on 28 November 2023 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 770 430
Other creditors 3,361 4,078
4,131 4,508

Wilwall (Properties) Limited (Registered number: SC039257)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023

6. RESERVES
Revaluation
reserve
£   
At 29 November 2022 303,941
Movement in fair value 4,700

At 28 November 2023 308,641

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from a director subsisted during the years ended 28 November 2023 and 28 November 2022:

2023 2022
£    £   
J F Wallace
Balance outstanding at start of year 3,625 3,250
Amounts advanced 3,811 6,125
Amounts repaid (4,686 ) (5,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,750 3,625