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REGISTERED NUMBER: SC547951 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

T Williamson Contractors Limited

T Williamson Contractors Limited (Registered number: SC547951)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T Williamson Contractors Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: T J Williamson





REGISTERED OFFICE: Souther House
Hoswick
Sandwick
Shetland
ZE2 9HL





REGISTERED NUMBER: SC547951 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
2 North Ness Business Park
Lerwick
Shetland
ZE1 0LZ

T Williamson Contractors Limited (Registered number: SC547951)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,112 54,287

CURRENT ASSETS
Stocks 5 38,151 47,419
Debtors 6 161,037 249,336
Cash at bank 62,220 50,943
261,408 347,698
CREDITORS
Amounts falling due within one year 7 191,023 148,539
NET CURRENT ASSETS 70,385 199,159
TOTAL ASSETS LESS CURRENT LIABILITIES 134,497 253,446

CREDITORS
Amounts falling due after more than one year 8 (78,515 ) (119,625 )

PROVISIONS FOR LIABILITIES (12,181 ) (8,175 )
NET ASSETS 43,801 125,646

CAPITAL AND RESERVES
Called up share capital 50 50
Other reserves 50 50
Retained earnings 43,701 125,546
SHAREHOLDERS' FUNDS 43,801 125,646

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

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

T Williamson Contractors Limited (Registered number: SC547951)

Balance Sheet - continued
31 October 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 12 July 2024 and were signed by:





T J Williamson - Director


T Williamson Contractors Limited (Registered number: SC547951)

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

1. STATUTORY INFORMATION

T Williamson Contractors 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

T Williamson Contractors Limited (Registered number: SC547951)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 26,174 66,092 4,972 97,238
Additions 1,369 35,788 - 37,157
Disposals - (18,637 ) - (18,637 )
At 31 October 2023 27,543 83,243 4,972 115,758
DEPRECIATION
At 1 November 2022 13,836 26,167 2,948 42,951
Charge for year 2,653 12,693 1,034 16,380
Eliminated on disposal - (7,685 ) - (7,685 )
At 31 October 2023 16,489 31,175 3,982 51,646
NET BOOK VALUE
At 31 October 2023 11,054 52,068 990 64,112
At 31 October 2022 12,338 39,925 2,024 54,287

T Williamson Contractors Limited (Registered number: SC547951)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 41,125
Disposals (18,637 )
At 31 October 2023 22,488
DEPRECIATION
At 1 November 2022 9,251
Charge for year 5,461
Eliminated on disposal (7,685 )
At 31 October 2023 7,027
NET BOOK VALUE
At 31 October 2023 15,461
At 31 October 2022 31,874

5. STOCKS
31.10.23 31.10.22
£    £   
Stocks 2,000 2,000
Work-in-progress 36,151 45,419
38,151 47,419

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 22,304 167,195
Other debtors 138,733 82,141
161,037 249,336

T Williamson Contractors Limited (Registered number: SC547951)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 40,000 40,000
Hire purchase contracts and finance leases 4,181 7,735
Trade creditors 125,295 67,798
Taxation and social security 13,543 28,776
Other creditors 8,004 4,230
191,023 148,539

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 71,547 102,721
Hire purchase contracts and finance leases 6,968 16,904
78,515 119,625