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REGISTERED NUMBER: SC370358 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Irving Geddes W.S. Limited

Irving Geddes W.S. Limited (Registered number: SC370358)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Irving Geddes W.S. Limited (Registered number: SC370358)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,980 10,689
6,980 10,689

CURRENT ASSETS
Debtors 6 346,312 245,720
Cash at bank 5,459 13,619
351,771 259,339
CREDITORS
Amounts falling due within one year 7 (144,489 ) (105,337 )
NET CURRENT ASSETS 207,282 154,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,262

164,691

PROVISIONS FOR LIABILITIES (1,745 ) (2,334 )
NET ASSETS 212,517 162,357

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 212,515 162,355
SHAREHOLDERS' FUNDS 212,517 162,357

Irving Geddes W.S. Limited (Registered number: SC370358)

Balance Sheet - continued
31 December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 22 March 2024 and were signed by:





David James Irving Geddes - Director


Irving Geddes W.S. Limited (Registered number: SC370358)

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

1. STATUTORY INFORMATION

Irving Geddes W.S. Limited is a private company, limited by shares, domiciled in Scotland, registration number SC370358. The registered office is 25 West High Street, Crieff, Perthshire, PH7 4AU.

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 represents the fair value of professional services provided during the year to clients. Turnover is recognised as contract activity and the right to consideration earned. Fair value reflects the amount expected to be recoverable from clients and is based on time spent, skills and expertise provided, excluding VAT. Turnover which has been recognised but not invoiced by the balance sheet date is included within debtors.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

Irving Geddes W.S. Limited (Registered number: SC370358)

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

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 280,000
AMORTISATION
At 1 January 2023
and 31 December 2023 280,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Irving Geddes W.S. Limited (Registered number: SC370358)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 83,134
Additions 1,610
At 31 December 2023 84,744
DEPRECIATION
At 1 January 2023 72,445
Charge for year 5,319
At 31 December 2023 77,764
NET BOOK VALUE
At 31 December 2023 6,980
At 31 December 2022 10,689

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 14,016 33,713
Amounts recoverable on contract 26,500 25,000
Other debtors 305,796 187,007
346,312 245,720

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 139,477 99,860
Other creditors 5,012 5,477
144,489 105,337