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REGISTERED NUMBER: SC033333 (Scotland)















Unaudited Financial Statements for the Year Ended 28th May 2023

for

George Wilson Property Company Limited

George Wilson Property Company Limited (Registered number: SC033333)






Contents of the Financial Statements
for the Year Ended 28th May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


George Wilson Property Company Limited

Company Information
for the Year Ended 28th May 2023







DIRECTOR: G S Watt





SECRETARY: R S Watt





REGISTERED OFFICE: 1 Auchingramont Road
Hamilton
ML3 6JP





REGISTERED NUMBER: SC033333 (Scotland)





ACCOUNTANTS: Smith Inglis & Tait
1 Auchingramont Road
Hamilton
ML3 6JP

George Wilson Property Company Limited (Registered number: SC033333)

Balance Sheet
28th May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 83 111
Investment property 5 3,330,000 3,330,000
3,330,083 3,330,111

CURRENT ASSETS
Debtors 6 193,510 124,320
Cash at bank 3,934 67,592
197,444 191,912
CREDITORS
Amounts falling due within one year 7 17,376 14,738
NET CURRENT ASSETS 180,068 177,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,510,151

3,507,285

PROVISIONS FOR LIABILITIES 8 551,992 551,992
NET ASSETS 2,958,159 2,955,293

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 2,905,221 2,905,221
Retained earnings 9 52,838 49,972
SHAREHOLDERS' FUNDS 2,958,159 2,955,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th May 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.

George Wilson Property Company Limited (Registered number: SC033333)

Balance Sheet - continued
28th May 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 20th March 2024 and were signed by:





G S Watt - Director


George Wilson Property Company Limited (Registered number: SC033333)

Notes to the Financial Statements
for the Year Ended 28th May 2023

1. STATUTORY INFORMATION

George Wilson Property Company 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
Revenue 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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 - 1 ).

George Wilson Property Company Limited (Registered number: SC033333)

Notes to the Financial Statements - continued
for the Year Ended 28th May 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 29th May 2022
and 28th May 2023 49,973
DEPRECIATION
At 29th May 2022 49,862
Charge for year 28
At 28th May 2023 49,890
NET BOOK VALUE
At 28th May 2023 83
At 28th May 2022 111

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29th May 2022
and 28th May 2023 3,330,000
NET BOOK VALUE
At 28th May 2023 3,330,000
At 28th May 2022 3,330,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,739 6,861
Other debtors 181,771 117,459
193,510 124,320

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 1
Taxation and social security 10,809 8,170
Other creditors 6,567 6,567
17,376 14,738

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 551,992 551,992

George Wilson Property Company Limited (Registered number: SC033333)

Notes to the Financial Statements - continued
for the Year Ended 28th May 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 29th May 2022 551,992
Balance at 28th May 2023 551,992

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 29th May 2022 49,972 2,905,221 2,955,193
Profit for the year 44,166 - 44,166
Dividends (41,300 ) - (41,300 )
At 28th May 2023 52,838 2,905,221 2,958,059