William Ree & Partners Limited |
Registered Number:SC250440 |
For the year ended 30 September 2023
Scotland
Unaudited Financial Statements
For the year ended 30 September 2023
William Ree & Partners Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
William Ree & Partners Limited
Statement of Financial Position
2022
2023
6,000
9,000
2
Property, plant and equipment |
38,147
14,196
3
44,147
23,196
19,200
19,200
4
Trade and other receivables |
55,159
33,295
5
22,280
Cash and cash equivalents |
28,599
81,094
96,639
Trade and other payables: amounts falling due within one year |
(86,084)
(73,344)
6
10,555
7,750
Net current assets
Total assets less current liabilities |
51,897
33,751
Trade and other payables: amounts falling due after more than one year |
(6,842)
(19,739)
7
32,158
Net assets
26,909
100
100
32,058
26,809
32,158
26,909
Shareholders' funds
For the year ended 30 September 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 of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 05 April 2024 and were signed by: |
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For the year ended 30 September 2023
William Ree & Partners Limited
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 30 September 2023
William Ree & Partners Limited
Notes to the Financial Statements
Statutory Information
William Ree & Partners Limited is a private limited company, limited by shares, domiciled in Scotland, registration number SC250440. |
329A Brook Street
Broughty Ferry
Dundee
DD5 2DS
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have |
been prepared under the historical costs convention as modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2003, is being amortised evenly over 10 years commencing in 2016 |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant & machinery
Motor vehicles
Showroom & office equipment
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis. |
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For the year ended 30 September 2023
William Ree & Partners Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
30,000
30,000
21,000
3,000
Charge for year
24,000
6,000
9,000
3. Property, plant and equipment |
Showroom & office |
equipment |
Motor vehicles
Plant & machinery
46,072
15,808
28,078
2,186
30,295
-
30,295
-
-
(3,750)
-
(3,750)
2,186
54,623
15,808
72,617
Provision for depreciation and impairment |
31,876
12,949
16,835
2,092
Charge for year
5,845
429
5,402
14
(3,251)
-
(3,251)
-
34,470
13,378
18,986
2,106
80
35,637
2,430
38,147
94
11,243
2,859
14,196
2022
2023
19,200
19,200
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For the year ended 30 September 2023
William Ree & Partners Limited
Notes to the Financial Statements Continued
5. Trade and other receivables |
2022
2023
30,690
46,348
2,605
8,811
55,159
33,295
6. Trade and other payables: amounts falling due within one year |
2022
2023
Bank loans and overdraft (secured) |
7,163
10,648
46,747
52,992
Taxation and social security |
7,691
18,923
11,743
3,521
73,344
86,084
7. Trade and other payables: amounts falling due after more than one year |
2022
2023
Bank loans and overdraft (secured) |
-
6,842
19,739
-
19,739
6,842
8. Average number of persons employed |
During the year the average number of employees was 8 (2022 : 8)
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