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REGISTERED NUMBER: SC176289 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

G & A Wilson Ltd.

G & A Wilson Ltd. (Registered number: SC176289)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

G & A Wilson Ltd.

Company Information
for the Year Ended 31 August 2023







DIRECTORS: G Wilson
Mrs A Wilson





REGISTERED OFFICE: 25 Eaglesham Road
Clarkston
GLASGOW
G76 7DH





REGISTERED NUMBER: SC176289 (Scotland)





ACCOUNTANTS: Key Professional Partnership Ltd
Unit 3
Morris Park
37 Rosyth Road
Glasgow
G5 0YE

G & A Wilson Ltd. (Registered number: SC176289)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 396,867 395,395

CURRENT ASSETS
Stocks 98,402 62,499
Debtors 5 1,167 1,167
Prepayments and accrued income 2,333 2,333
Cash at bank and in hand 28,394 78,366
130,296 144,365
CREDITORS
Amounts falling due within one year 6 119,024 119,187
NET CURRENT ASSETS 11,272 25,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

408,139

420,573

CREDITORS
Amounts falling due after more than one
year

7

36,715

58,163
NET ASSETS 371,424 362,410

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 371,422 362,408
SHAREHOLDERS' FUNDS 371,424 362,410

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

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

G & A Wilson Ltd. (Registered number: SC176289)

Balance Sheet - continued
31 August 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 Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:




G Wilson - Director



Mrs A Wilson - Director


G & A Wilson Ltd. (Registered number: SC176289)

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

1. STATUTORY INFORMATION

G & A Wilson Ltd. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

G & A Wilson Ltd. (Registered number: SC176289)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-putative ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable end payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective Interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term Instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount end the present value of estimated cash flows discounted at the asset's original erective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate or the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 21 (2022 - 21 ) .

G & A Wilson Ltd. (Registered number: SC176289)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 355,878 96,779 36,703 10,566 499,926
Additions - 7,831 890 924 9,645
At 31 August 2023 355,878 104,610 37,593 11,490 509,571
DEPRECIATION
At 1 September 2022 - 70,728 27,087 6,716 104,531
Charge for year - 5,093 2,507 573 8,173
At 31 August 2023 - 75,821 29,594 7,289 112,704
NET BOOK VALUE
At 31 August 2023 355,878 28,789 7,999 4,201 396,867
At 31 August 2022 355,878 26,051 9,616 3,850 395,395

Included in cost of land and buildings is freehold land of £ 355,878 (2022 - £ 355,878 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 September 2022
and 31 August 2023 23,654
DEPRECIATION
At 1 September 2022 10,956
Charge for year 2,961
At 31 August 2023 13,917
NET BOOK VALUE
At 31 August 2023 9,737
At 31 August 2022 12,698

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,167 1,167

G & A Wilson Ltd. (Registered number: SC176289)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,149 22,210
Hire purchase contracts (see note 8) 3,093 3,375
Trade creditors 70,850 67,731
Taxation and social security 16,395 21,272
Other creditors 6,537 4,599
119,024 119,187

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 36,715 55,070
Hire purchase contracts (see note 8) - 3,093
36,715 58,163

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 3,093 3,375
Between one and five years - 3,093
3,093 6,468


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 58,864 77,280

The bank loan is secured by way of a standard security over the heritable property and Bond and Floating Charge.

10. OPERATING LEASE COMMITMENTS

At the reporting end date the company had outstanding commitments for future operating lease payments under non-cancellable operating lease as follows -: 2022 £82,120 (2022 - £112,241)

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
G & A Wilson Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G & A Wilson Ltd. for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of G & A Wilson Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G & A Wilson Ltd. and state those matters that we have agreed to state to the Board of Directors of G & A Wilson Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G & A Wilson Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G & A Wilson Ltd.. You consider that G & A Wilson Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G & A Wilson Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Key Professional Partnership Ltd
Unit 3
Morris Park
37 Rosyth Road
Glasgow
G5 0YE


6 February 2024