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REGISTERED NUMBER: SC307387 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

William Young (Fraserburgh) Limited

William Young (Fraserburgh) Limited (Registered number: SC307387)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


William Young (Fraserburgh) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr W G Young





REGISTERED OFFICE: Caley Fisheries Limited
1/3 Dalrymple Street
Fraserburgh
Aberdeenshire
AB43 9BH





REGISTERED NUMBER: SC307387 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

William Young (Fraserburgh) Limited (Registered number: SC307387)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 - 141,490

CURRENT ASSETS
Cash at bank 170,445 69,534

CREDITORS
Amounts falling due within one year 5 7,460 6,464
NET CURRENT ASSETS 162,985 63,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,985

204,560

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 7 162,885 204,460
SHAREHOLDERS' FUNDS 162,985 204,560

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2024 and were signed by:





Mr W G Young - Director


William Young (Fraserburgh) Limited (Registered number: SC307387)

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

1. STATUTORY INFORMATION

William Young (Fraserburgh) 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
Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates. The company ceased trading on 31st December 2022 and did not generate any trading income in the year under report.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Fixed asset investments
The fixed asset investment comprises of the company's interest in the partnership of 'Guide Us FR4'. The investment is reported at actual value per the partnership financial statements. The partnership in which the company held an interest ceased on 31st December 2022.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 141,490
Disposals (141,490 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 141,490

The partnership in which the company held an interest ceased on 31st December 2022.

William Young (Fraserburgh) Limited (Registered number: SC307387)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 409 3,913
Other creditors 7,051 2,551
7,460 6,464

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

7. RESERVES
Retained
earnings
£   

At 1 January 2023 204,460
Profit for the year 1,925
Dividends (43,500 )
At 31 December 2023 162,885

8. RELATED PARTY DISCLOSURES

The Director Mr W Young, operates a current account with the company as at the financial year end the balance owed to him was £6,228 (2022 - £1,728). There are no specific terms of repayment and no interest is accrued.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr W G Young.