Registered number
SC186364
J WILDMAN LTD
13 Graham Street
Airdrie
Filleted Accounts
for the year ended 31 December 2023
Yousaf & Co Ltd
Chartered Certified Accountants
Registered Auditors
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: J030/SA
J WILDMAN LTD
Registered number: SC186364
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 20,040 22,267
Current assets
Stocks 3,376 3,754
Debtors 4 7,305 5,087
Cash at bank and in hand 10,376 7,017
21,057 15,858
Creditors: amounts falling due within one year 5 (9,189) (7,949)
Net current assets 11,868 7,909
Total assets less current liabilities 31,908 30,176
Creditors: amounts falling due after more than one year 6 (19,727) (22,848)
Net assets 12,181 7,328
Capital and reserves
Called up share capital 100 100
Profit and loss account 12,081 7,228
Shareholders' funds 12,181 7,328
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr David Pratt Wildman
Director
Approved by the board on 7 August 2024
J WILDMAN LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicle 10% Reducing balance method
Fixtures, fittings, tools and equipment 10% Reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Fixtures Motor Total
& fittings vehicles
£ £ £
Cost
At 1 January 2023 3,812 20,961 24,773
At 31 December 2023 3,812 20,961 24,773
Depreciation
At 1 January 2023 935 1,571 2,506
Charge for the year 288 1,939 2,227
At 31 December 2023 1,223 3,510 4,733
Net book value
At 31 December 2023 2,589 17,451 20,040
At 31 December 2022 2,877 19,390 22,267
4 Debtors 2023 2022
£ £
Trade debtors 734 914
Other debtors 6,571 4,173
7,305 5,087
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation Tax 6,939 6,029
Other creditors 2,250 1,920
9,189 7,949
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 3,983 6,969
Director's loan account 15,744 15,879
19,727 22,848
J WILDMAN LTD SC186364 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Mr David Pratt Wildman No description of principal activity SC186364 2022-01-01 2022-12-31 SC186364 core:WithinOneYear 2022-12-31 SC186364 core:AfterOneYear 2022-12-31 SC186364 core:ShareCapital 2022-12-31 SC186364 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC186364 2023-01-01 2023-12-31 SC186364 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC186364 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC186364 bus:Director40 2023-01-01 2023-12-31 SC186364 1 2023-01-01 2023-12-31 SC186364 2 2023-01-01 2023-12-31 SC186364 core:PlantMachinery 2023-01-01 2023-12-31 SC186364 core:Vehicles 2023-01-01 2023-12-31 SC186364 bus:FRS102 2023-01-01 2023-12-31 SC186364 bus:FilletedAccounts 2023-01-01 2023-12-31 SC186364 2023-12-31 SC186364 core:WithinOneYear 2023-12-31 SC186364 core:AfterOneYear 2023-12-31 SC186364 core:ShareCapital 2023-12-31 SC186364 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC186364 core:PlantMachinery 2023-12-31 SC186364 core:Vehicles 2023-12-31 SC186364 2022-12-31 SC186364 core:PlantMachinery 2022-12-31 SC186364 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure