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REGISTERED NUMBER: SC232198 (Scotland)















Financial Statements for the Year Ended 30 June 2023

for

Wilkie Engineering Limited

Wilkie Engineering Limited (Registered number: SC232198)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wilkie Engineering Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: DJ Wilkie
BJ Wilkie
W Wilkie
R T Davies





SECRETARY: D J Wilkie





REGISTERED OFFICE: Newmill
Foveran
Newburgh
Aberdeenshire
AB41 6AP





REGISTERED NUMBER: SC232198 (Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
Aberdeenshire
AB41 9LJ

Wilkie Engineering Limited (Registered number: SC232198)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 25,906 29,232
Investments 6 75,000 75,000
100,906 104,232

CURRENT ASSETS
Stocks 60,806 74,359
Debtors 7 592,079 504,693
Cash at bank and in hand 275,243 410,212
928,128 989,264
CREDITORS
Amounts falling due within one year 8 190,626 202,186
NET CURRENT ASSETS 737,502 787,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

838,408

891,310

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 838,308 891,210
SHAREHOLDERS' FUNDS 838,408 891,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Wilkie Engineering Limited (Registered number: SC232198)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





R T Davies - Director


Wilkie Engineering Limited (Registered number: SC232198)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Wilkie Engineering 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost and 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 22 ) .

Wilkie Engineering Limited (Registered number: SC232198)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 1,150,000
AMORTISATION
At 1 July 2022
and 30 June 2023 1,150,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2022 13,111 53,797 66,908
Additions 8,983 1,862 10,845
Disposals - (960 ) (960 )
At 30 June 2023 22,094 54,699 76,793
DEPRECIATION
At 1 July 2022 3,460 34,216 37,676
Charge for year 3,933 9,798 13,731
Eliminated on disposal - (520 ) (520 )
At 30 June 2023 7,393 43,494 50,887
NET BOOK VALUE
At 30 June 2023 14,701 11,205 25,906
At 30 June 2022 9,651 19,581 29,232

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 75,000
NET BOOK VALUE
At 30 June 2023 75,000
At 30 June 2022 75,000

Wilkie Engineering Limited (Registered number: SC232198)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 451,628 492,471
Other debtors 140,451 12,222
592,079 504,693

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts - 3,125
Trade creditors 72,036 93,098
Taxation and social security 91,870 79,112
Other creditors 26,720 26,851
190,626 202,186

9. RELATED PARTY DISCLOSURES

The company has invested £75,000.00 in Oasis Marine Power Limited (OMPL) by purchasing 100 Ordinary £0.10 Shares at a price of £750.00 each.Wilkie Engineering Limited has acquired a position within the board of directors of OMPL.OMPL are a trading customer of Wilkie Engineering Limited