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REGISTERED NUMBER: SC040639 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

R.W.G. SECURITIES LIMITED

R.W.G. SECURITIES LIMITED (REGISTERED NUMBER: SC040639)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

R.W.G. SECURITIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs C Silver
Mr E D Talbot





SECRETARY: Mr E D Talbot





REGISTERED OFFICE: 4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL





REGISTERED NUMBER: SC040639 (Scotland)





ACCOUNTANTS: Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

R.W.G. SECURITIES LIMITED (REGISTERED NUMBER: SC040639)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 545,754 545,754

CURRENT ASSETS
Debtors 5 8,593 7,155
Cash at bank 147,216 186,941
155,809 194,096
CREDITORS
Amounts falling due within one year 6 119,791 128,873
NET CURRENT ASSETS 36,018 65,223
TOTAL ASSETS LESS CURRENT
LIABILITIES

581,772

610,977

PROVISIONS FOR LIABILITIES 64,117 64,117
NET ASSETS 517,655 546,860

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 7 393,281 393,281
Retained earnings 114,374 143,579
SHAREHOLDERS' FUNDS 517,655 546,860

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

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

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 12 February 2024 and were signed on its behalf by:





Mr E D Talbot - Director


R.W.G. SECURITIES LIMITED (REGISTERED NUMBER: SC040639)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

R.W.G. Securities 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 taxes and other sales taxes. Turnover includes revenue earned from property rental.

Rental Income:
Rental income from investment properties is recognised on a straight line basis over the term of the relevant lease.

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

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

R.W.G. SECURITIES LIMITED (REGISTERED NUMBER: SC040639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 545,754
NET BOOK VALUE
At 30 November 2023 545,754
At 30 November 2022 545,754

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2009 330,398
Valuation in 2017 127,000
Cost 88,356
545,754

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 88,356 88,356

Investment property was valued on an open market basis on 30 November 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,293 5,150
Other debtors 2,300 2,005
8,593 7,155

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 8,255 8,600
Other creditors 111,536 120,273
119,791 128,873

R.W.G. SECURITIES LIMITED (REGISTERED NUMBER: SC040639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


7. RESERVES
Fair
value
reserve
£   
At 1 December 2022
and 30 November 2023 393,281

Fair Value Reserve
This reserve reflects cumulative revaluations of investment property (less provision for deferred tax).

These gains or losses are non-distributable.

8. RELATED PARTY DISCLOSURES

Included within other creditors is a loan amounting to £70,124 (2022: £72,584) from BPIB Limited, a company which is under the control of a director of R.W.G. Securities Limited. The loan is repayable on demand and interest is chargeable at 4% per annum. Interest of £2,903 (2022: £1,122) was charged during the year in respect of this loan. At the balance sheet date, £7,864 (2022: £4,961) of loan interest was outstanding.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
R.W.G. SECURITIES LIMITED


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 R.W.G. Securities Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 R.W.G. Securities Limited, 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 R.W.G. Securities Limited and state those matters that we have agreed to state to the Board of Directors of R.W.G. Securities Limited, 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 R.W.G. Securities Limited 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 R.W.G. Securities Limited. You consider that R.W.G. Securities Limited 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 R.W.G. Securities Limited. 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.






Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL


12 February 2024