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REGISTERED NUMBER: SC247774 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Wilkinson & Associates Limited

Wilkinson & Associates Limited (Registered number: SC247774)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Wilkinson & Associates Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Ms M Boyton
D M Ellis
R C McQuarrie
I Wilkinson
G M Gracie





SECRETARY: Ms M Boyton





REGISTERED OFFICE: 50 Melville Street
Edinburgh
EH3 7HF





REGISTERED NUMBER: SC247774 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Wilkinson & Associates Limited (Registered number: SC247774)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,789 14,594

CURRENT ASSETS
Debtors 5 295,345 708,811
Prepayments and accrued income 42,452 194,795
Cash at bank 52,904 45,402
390,701 949,008
CREDITORS
Amounts falling due within one year 6 260,456 592,152
NET CURRENT ASSETS 130,245 356,856
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,034

371,450

CREDITORS
Amounts falling due after more than one
year

7

(1,632

)

(103,264

)

PROVISIONS FOR LIABILITIES (2,197 ) (3,649 )
NET ASSETS 135,205 264,537

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 130,205 259,537
135,205 264,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 23 August 2024 and were signed on its behalf by:





Ms M Boyton - Director


Wilkinson & Associates Limited (Registered number: SC247774)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Wilkinson & Associates 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.
Computer & office equipment - 25% on cost

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is
reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are
met. Where a grant does not specify performance conditions it is recognised in income when the proceeds
are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a
liability.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to
the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.

Debtors
Debtors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss.

Creditors
Creditors with no stated interest rate and payable within one year are recorded at transaction price.

All interest bearing loans and borrowings which are basic financial instruments are initially recognised at the
present value of cash payable. After initial recognition they are measured at amortised cost.

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 statement of financial position date.


Wilkinson & Associates Limited (Registered number: SC247774)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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 statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is
more representative of the time pattern in which economic benefits from the leases asset are consumed.

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 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Computer
& office
equipment
£   
COST
At 1 December 2022 73,411
Additions 224
At 30 November 2023 73,635
DEPRECIATION
At 1 December 2022 58,817
Charge for year 6,029
At 30 November 2023 64,846
NET BOOK VALUE
At 30 November 2023 8,789
At 30 November 2022 14,594

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 276,827 519,129
Amounts owed by group undertakings - 177,757
Other debtors 722 -
Directors' current accounts 700 700
Prepayments and accrued income 17,096 11,225
295,345 708,811

Wilkinson & Associates Limited (Registered number: SC247774)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 68,118 159,382
Trade creditors 58,981 173,164
Tax 23,869 36,743
Social security and other taxes 25,429 24,285
VAT 35,452 52,398
Other creditors 1,878 1,506
Accrued expenses 45,097 143,042
Deferred government grants 1,632 1,632
260,456 592,152

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 2-5 years - 100,000
Deferred government grants 1,632 3,264
1,632 103,264

8. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The company has granted security over trade debtors plus a bond and floating charge over the assets of the company to Lloyds TSB Commercial Finance Limited. Included within creditors is £68,118 (2022 : £119,382) due to Lloyds TSB Commercial Finance Limited at 30 November 2022.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
I Wilkinson
Balance outstanding at start of year 700 700
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 700 700

The directors are of the opinion that all remaining related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.