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REGISTERED NUMBER: SC437722 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Willowcraft Ltd

Willowcraft Ltd (Registered number: SC437722)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Willowcraft Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr D T Gardiner
Mrs H J Peters





REGISTERED OFFICE: 8 Lithgow Place
East Kilbride
G74 1PW





REGISTERED NUMBER: SC437722 (Scotland)





ACCOUNTANTS: Greg Hannah Ltd
Chartered Accountants
26 Victoria Street
Rutherglen
Glasgow
G73 1DS

Willowcraft Ltd (Registered number: SC437722)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,765 6,354

CURRENT ASSETS
Stocks 71,137 67,851
Debtors 6 77,156 99,360
Cash at bank and in hand 113,691 136,849
261,984 304,060
CREDITORS
Amounts falling due within one year 7 192,018 125,864
NET CURRENT ASSETS 69,966 178,196
TOTAL ASSETS LESS CURRENT
LIABILITIES

74,731

184,550

CREDITORS
Amounts falling due after more than one
year

8

(15,831

)

(25,831

)

PROVISIONS FOR LIABILITIES (856 ) (1,209 )
NET ASSETS 58,044 157,510

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 58,034 157,500
58,044 157,510

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.

Willowcraft Ltd (Registered number: SC437722)

Balance Sheet - continued
30 November 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 30 August 2024 and were signed on its behalf by:




Mrs H J Peters - Director



Mr D T Gardiner - Director


Willowcraft Ltd (Registered number: SC437722)

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

1. STATUTORY INFORMATION

Willowcraft Ltd 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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

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

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.

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.

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.

Willowcraft Ltd (Registered number: SC437722)

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

3. ACCOUNTING POLICIES - continued

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 6 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 29,589
DEPRECIATION
At 1 December 2022 23,235
Charge for year 1,589
At 30 November 2023 24,824
NET BOOK VALUE
At 30 November 2023 4,765
At 30 November 2022 6,354

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 72,156 94,360
Other debtors 5,000 5,000
77,156 99,360

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 108,294 67,724
Taxation and social security 60,629 38,998
Other creditors 13,095 9,142
192,018 125,864

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,831 25,831

Willowcraft Ltd (Registered number: SC437722)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 25,831 35,831

The bounce bank loan is supported by a 100% guarantee from the UK Government.

10. RELATED PARTY DISCLOSURES

At the 30th November 2023, the company owed Mr D Gardiner £125 (2022: £125). This loan is interest free and has no fixed repayment terms.