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REGISTERED NUMBER: SC066536 (Scotland)
















Unaudited Financial Statements for the Year Ended 4 December 2023

for

Wilcor Property Company (Glasgow)
Limited

Wilcor Property Company (Glasgow)
Limited (Registered number: SC066536)






Contents of the Financial Statements
for the Year Ended 4 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wilcor Property Company (Glasgow)
Limited

Company Information
for the Year Ended 4 December 2023







DIRECTORS: B G Corrigan
S Corrigan
A Williamson
E Snedden
M Corrigan
SES Williamson





SECRETARY: B G Corrigan





REGISTERED OFFICE: 184 Howard Street
Glasgow
G1 4HW





REGISTERED NUMBER: SC066536 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Wilcor Property Company (Glasgow)
Limited (Registered number: SC066536)

Balance Sheet
4 December 2023

4.12.23 4.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 753,777 753,777
753,777 753,777

CURRENT ASSETS
Debtors 6 450 2,850
Cash at bank and in hand 34,546 28,130
34,996 30,980
CREDITORS
Amounts falling due within one year 7 (147,786 ) (149,239 )
NET CURRENT LIABILITIES (112,790 ) (118,259 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

640,987

635,518

PROVISIONS FOR LIABILITIES (95,443 ) (72,537 )
NET ASSETS 545,544 562,981

CAPITAL AND RESERVES
Called up share capital 12 12
Fair value reserve 8 552,078 574,984
Retained earnings (6,546 ) (12,015 )
545,544 562,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 4 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 4 December 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.

Wilcor Property Company (Glasgow)
Limited (Registered number: SC066536)

Balance Sheet - continued
4 December 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 1 May 2024 and were signed on its behalf by:





E Snedden - Director


Wilcor Property Company (Glasgow)
Limited (Registered number: SC066536)

Notes to the Financial Statements
for the Year Ended 4 December 2023

1. STATUTORY INFORMATION

Wilcor Property Company (Glasgow) 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.

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


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 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.
Plant and machinery etc - 25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.


Wilcor Property Company (Glasgow)
Limited (Registered number: SC066536)

Notes to the Financial Statements - continued
for the Year Ended 4 December 2023

2. ACCOUNTING POLICIES - continued
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).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 5 December 2022
and 4 December 2023 17,714
DEPRECIATION
At 5 December 2022
and 4 December 2023 17,714
NET BOOK VALUE
At 4 December 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 5 December 2022
and 4 December 2023 753,777
NET BOOK VALUE
At 4 December 2023 753,777
At 4 December 2022 753,777

Investment properties have a historic cost of £106,256 (2022: £106,256).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
4.12.23 4.12.22
£    £   
Other debtors 450 2,850

Wilcor Property Company (Glasgow)
Limited (Registered number: SC066536)

Notes to the Financial Statements - continued
for the Year Ended 4 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
4.12.23 4.12.22
£    £   
Taxation and social security 9,586 11,039
Other creditors 138,200 138,200
147,786 149,239

8. RESERVES
Fair
value
reserve
£   
At 5 December 2022 574,984
Deferred Tax (22,906 )

At 4 December 2023 552,078