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REGISTERED NUMBER: SC225577 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Verger Tomson Limited

Verger Tomson Limited (Registered number: SC225577)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Verger Tomson Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: Mr R Thompson





SECRETARY: Ms A D Thompson





REGISTERED OFFICE: 47-49 The Square
Kelso
Roxburghshire
TD5 7HW





REGISTERED NUMBER: SC225577 (Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Verger Tomson Limited (Registered number: SC225577)

Statement of Financial Position
30 September 2023

30/9/23 30/9/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 718 788
Investment property 6 1,395,000 1,440,000
1,395,718 1,440,788

CURRENT ASSETS
Debtors 7 24,003 13,638
Cash at bank 60,323 27,670
84,326 41,308
CREDITORS
Amounts falling due within one year 8 29,437 38,470
NET CURRENT ASSETS 54,889 2,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,450,607

1,443,626

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 9 643,804 688,804
Retained earnings 806,603 754,622
SHAREHOLDERS' FUNDS 1,450,607 1,443,626

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

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 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.

Verger Tomson Limited (Registered number: SC225577)

Statement of Financial Position - continued
30 September 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 30 January 2024 and were signed by:





Mr R Thompson - Director


Verger Tomson Limited (Registered number: SC225577)

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

1. STATUTORY INFORMATION

Verger Tomson 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 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.

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 fifteen 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.
Computer equipment - 25% on cost

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred tax is provided on gains at the rate expected to apply when the property is sold.

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.

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.

Verger Tomson Limited (Registered number: SC225577)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 50,187
AMORTISATION
At 1 October 2022
and 30 September 2023 50,187
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2022 1,029
Additions 249
At 30 September 2023 1,278
DEPRECIATION
At 1 October 2022 241
Charge for year 319
At 30 September 2023 560
NET BOOK VALUE
At 30 September 2023 718
At 30 September 2022 788

Verger Tomson Limited (Registered number: SC225577)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 1,440,000
Revaluations (45,000 )
At 30 September 2023 1,395,000
NET BOOK VALUE
At 30 September 2023 1,395,000
At 30 September 2022 1,440,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2004 128,804
Valuation in 2005 50,000
Valuation in 2006 100,000
Valuation in 2007 510,000
Valuation in 2008 (34,625 )
Valuation in 2009 (127,992 )
Valuation in 2010 27,548
Valuation in 2015 315,069
Valuation in 2017 (280,000 )
Valuation in 2023 (45,000 )
Cost 751,196
1,395,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Other debtors 9,080 9,810
Directors' loan accounts 12,132 -
Prepayments 2,791 3,828
24,003 13,638

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Corporation Tax 12,905 8,389
Social security and other taxes 2 2
Other creditors 3,304 3,304
Deposits held 9,080 9,810
Directors' loan accounts - 12,999
Accrued expenses 4,146 3,966
29,437 38,470

Verger Tomson Limited (Registered number: SC225577)

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

9. RESERVES
Revaluation
reserve
£   
At 1 October 2022 688,804
Revaluation on property (45,000 )

At 30 September 2023 643,804

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30/9/23 30/9/22
£    £   
Mr R Thompson
Balance outstanding at start of year (12,999 ) -
Amounts advanced 70,443 -
Amounts repaid (45,312 ) (12,999 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,132 (12,999 )