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REGISTERED NUMBER: SC438270 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Wilson Developments (Scotland) Ltd

Wilson Developments (Scotland) Ltd (Registered number: SC438270)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Wilson Developments (Scotland) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J S Wilson
A Wilson





REGISTERED OFFICE: 29 Brandon Street
Hamilton
ML3 6DA





BUSINESS ADDRESS: Unit 8
Claremont House
106 Hamilton Road
Motherwell
ML1 3DG





REGISTERED NUMBER: SC438270 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Wilson Developments (Scotland) Ltd (Registered number: SC438270)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 13,800 18,400

CURRENT ASSETS
Work in progress 2,372,481 2,304,750
Debtors 6 626,505 491,856
Cash at bank and in hand 927,846 42,660
3,926,832 2,839,266
CREDITORS
Amounts falling due within one year 7 3,481,100 2,196,930
NET CURRENT ASSETS 445,732 642,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,532

660,736

CREDITORS
Amounts falling due after more than one
year

8

(26,612

)

(36,457

)

PROVISIONS FOR LIABILITIES (2,622 ) (6,992 )
NET ASSETS 430,298 617,287

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 430,297 617,286
SHAREHOLDERS' FUNDS 430,298 617,287

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

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

Wilson Developments (Scotland) Ltd (Registered number: SC438270)

Balance Sheet - continued
31 March 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 11 March 2024 and were signed on its behalf by:





J S Wilson - Director


Wilson Developments (Scotland) Ltd (Registered number: SC438270)

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

1. STATUTORY INFORMATION

Wilson Developments (Scotland) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Turnover and revenue recognition
Turnover is derived from work done and services supplied by the company as a housebuilder and contractor.

Revenue is recognised at legal completion in respect of the total proceeds of building and development. An appropriate proportion of revenue from construction contracts is recognised by reference to the stage of completion of contract activity.

Turnover therefore represents the fair value of value of work done and services supplied, net of discounts and excluding value added tax.

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

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Government grants
Grants considered to be revenue in nature are credited to the profit and loss account in the period to which they relate. Grants of a capital nature are reflected as deferred income in the balance sheet and released to the profit and loss account over the estimated useful life of the assets to which they relate.

Work in progress
Work in progress is valued at the lower of cost and net realisable value until such time that the final outcome of a given development project can be reasonably assessed and an appropriate profit element included.

Wilson Developments (Scotland) Ltd (Registered number: SC438270)

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

3. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102, in full, to all of its financial instruments.

Recognition and measurement of financial instruments:
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Classification of financial instruments:
Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade, group and other debtors:
Trade, group and other debtors (including accrued income) which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where the arrangement with a debtor constitutes a financing transaction, the debtor is initially measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument and subsequently measured at amortised cost, using the effective interest method. The effective interest rate is the market rate used to determine initial measurement adjusted to amortise directly attributable transaction costs.

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Cash and cash equivalents:
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade creditors, group and other creditors:
Trade, group and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled.

Where the arrangement with a creditor constitutes a financing transaction, the creditor is initially measured at the present value of future payments discounted at a market rate of interest for a similar instrument and subsequently measured at amortised cost, being transaction price less any amounts settled and the cumulative amortisation (using the effective interest method) of any difference between the amount at initial recognition and the maturity amount. The effective interest rate is the rate that discounts estimated future cash payments to the carrying amount of the financial liability.

Derecognition of financial assets and liabilities:
A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some (but not substantially all) risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.


Wilson Developments (Scotland) Ltd (Registered number: SC438270)

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

3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 28 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 23,000
DEPRECIATION
At 1 April 2022 4,600
Charge for year 4,600
At 31 March 2023 9,200
NET BOOK VALUE
At 31 March 2023 13,800
At 31 March 2022 18,400

Wilson Developments (Scotland) Ltd (Registered number: SC438270)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 140,180 -
Amounts owed by group undertakings 192,259 192,259
Other debtors 294,066 299,597
626,505 491,856

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,849 9,609
Trade creditors 2,769,703 1,820,745
Taxation and social security 60,743 67,472
Other creditors 640,805 299,104
3,481,100 2,196,930

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 26,612 36,457

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 36,461 46,066

The bank loan is supported by a 100% guarantee from the UK Government.

Wilson Developments (Scotland) Ltd (Registered number: SC438270)

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

10. RELATED PARTY DISCLOSURES

During the year the company repaid loans totalling £177,961 to the directors. At the year end the company owed £3,055 (2022 - £181,016) to the directors.

At the year end the company was owed £5,000 (2022 - £5,000) by Zoom Estates Ltd (formerly Wilson Developments (Stonefield Road) Ltd), a company in which J S Wilson has significant control.

At the year end the company was owed £9,500 (2022 - £9,500) by Heads Farm Ltd, a company in which J S Wilson has significant control.

At the year end the company was owed £133,685 (2022 - £183,685) by Wilson Developments (Ferniegair) Ltd, a company in which J S Wilson has significant control.

At the year end the company was owed £192,259 (2022 - £192,259) by Wilson Developments (Property Services) Ltd, a company in which J S Wilson has significant control.

At the year end the company was owed £5,653 (2022 - Nil) by Wilson Property (Scotland) Ltd, being a fellow subsidiary in the Wilson Developments (Property Services) Ltd group.

At the year end the company owed Nil (2022 - £93,824 dr) to Wilson Developments (Orrs) Ltd, a company in which J S Wilson has significant control.

At the year end the company owed £527,106 (2022 - Nil) by Wilson Developments (Property Services) Ltd, being the parent company of the group which owns Wilson Development (Scotland) Ltd.

These balances are unsecured, interest free and have no fixed repayment terms.

11. CONTROLLING PARTY

The company is controlled by Wilson Developments (Property Services) Ltd.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wilson Developments (Scotland) 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 Wilson Developments (Scotland) Ltd for the year ended 31 March 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 Wilson Developments (Scotland) 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 Wilson Developments (Scotland) Ltd and state those matters that we have agreed to state to the Board of Directors of Wilson Developments (Scotland) 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 Wilson Developments (Scotland) 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 Wilson Developments (Scotland) Ltd. You consider that Wilson Developments (Scotland) 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 Wilson Developments (Scotland) 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


11 March 2024