Company Registration No. SC444506 (Scotland)
The Wee Train Ltd
Unaudited accounts
for the year ended 30 September 2023
The Wee Train Ltd
Unaudited accounts
Contents
The Wee Train Ltd
Company Information
for the year ended 30 September 2023
Directors
A.C. McClelland
G.H. McClelland
Company Number
SC444506 (Scotland)
Registered Office
5 Bentinck Street
Galston
Ayrshire
KA4 8HT
The Wee Train Ltd
Statement of financial position
as at 30 September 2023
Intangible assets
3,497
4,164
Tangible assets
9,341
7,862
Cash at bank and in hand
31,371
41,049
Creditors: amounts falling due within one year
(29,676)
(25,767)
Net current assets
4,274
19,904
Total assets less current liabilities
17,112
31,930
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
16,181
31,280
Shareholders' funds
16,183
31,282
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by
A.C. McClelland
Director
Company Registration No. SC444506
The Wee Train Ltd
Notes to the Accounts
for the year ended 30 September 2023
The Wee Train Ltd is a private company, limited by shares, registered in Scotland, registration number SC444506. The registered office is 5 Bentinck Street, Galston, Ayrshire, KA4 8HT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill, being the amount paid in connection with the acquisition in 2013, is amortised evenly over its estimated life of 15 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Taxation for the year comprises current 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 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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The Wee Train Ltd
Notes to the Accounts
for the year ended 30 September 2023
Government grant in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 30 September 2023
10,000
At 30 September 2023
6,503
At 30 September 2023
3,497
At 30 September 2022
4,164
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2022
4,450
18,561
18,522
560
42,093
Additions
-
2,125
758
-
2,883
At 30 September 2023
4,450
20,686
19,280
560
44,976
At 1 October 2022
-
15,348
18,325
558
34,231
Charge for the year
-
1,130
274
-
1,404
At 30 September 2023
-
16,478
18,599
558
35,635
At 30 September 2023
4,450
4,208
681
2
9,341
At 30 September 2022
4,450
3,213
197
2
7,862
Amounts falling due within one year
Accrued income and prepayments
2,188
4,231
The Wee Train Ltd
Notes to the Accounts
for the year ended 30 September 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
3,384
1,439
Taxes and social security
8,058
9,947
Loans from directors
13,603
9,227
8
Deferred taxation
2023
2022
Accelerated capital allowances
929
648
Provision at start of year
648
747
Charged/(credited) to the profit and loss account
281
(99)
Provision at end of year
929
648
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
A.C. McClelland introduced capital of £360 during the year. At the year end, the company has an outstanding liability of £4,020 due to Mr McClelland (2022 - £2,660).
G.H. McClelland introduced capital of £2,016 during the year. At the year end, the company has an outstanding liability of £9,583 due to Mrs McClelland (2022 - £6,567).
11
Average number of employees
During the year the average number of employees was 11 (2022: 11).