Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity11truetruefalse 00506194 2023-01-01 2023-12-31 00506194 2022-01-01 2022-12-31 00506194 2023-12-31 00506194 2022-12-31 00506194 c:Director1 2023-01-01 2023-12-31 00506194 d:Buildings 2023-01-01 2023-12-31 00506194 d:Buildings 2023-12-31 00506194 d:Buildings 2022-12-31 00506194 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00506194 d:LandBuildings 2023-12-31 00506194 d:LandBuildings 2022-12-31 00506194 d:PlantMachinery 2023-01-01 2023-12-31 00506194 d:PlantMachinery 2023-12-31 00506194 d:PlantMachinery 2022-12-31 00506194 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00506194 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00506194 d:CurrentFinancialInstruments 2023-12-31 00506194 d:CurrentFinancialInstruments 2022-12-31 00506194 d:Non-currentFinancialInstruments 2023-12-31 00506194 d:Non-currentFinancialInstruments 2022-12-31 00506194 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00506194 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00506194 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 00506194 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 00506194 d:ShareCapital 2023-12-31 00506194 d:ShareCapital 2022-12-31 00506194 d:InvestmentPropertiesRevaluationReserve 2023-01-01 2023-12-31 00506194 d:InvestmentPropertiesRevaluationReserve 2023-12-31 00506194 d:InvestmentPropertiesRevaluationReserve 2022-12-31 00506194 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 00506194 d:RetainedEarningsAccumulatedLosses 2023-12-31 00506194 d:RetainedEarningsAccumulatedLosses 2022-12-31 00506194 c:FRS102 2023-01-01 2023-12-31 00506194 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00506194 c:FullAccounts 2023-01-01 2023-12-31 00506194 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00506194 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
                                                                                                                   Registered number: 00506194














W C PATERSON & SON LIMITED


UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
W C PATERSON & SON LIMITED
REGISTERED NUMBER:00506194

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
68,304
70,201

Investment property
  
1,370,000
1,370,000

  
1,438,304
1,440,201

Current assets
  

Stocks
 5 
53,897
53,897

Debtors: amounts falling due within one year
 6 
2,490
2,240

  
56,387
56,137

Creditors: amounts falling due within one year
  
(13,102)
(15,366)

Net current assets
  
 
 
43,285
 
 
40,771

Total assets less current liabilities
  
1,481,589
1,480,972

Creditors: amounts falling due after more than one year
 7 
(503,176)
(520,074)

Provisions for liabilities
  

Deferred tax
  
(95,709)
(95,818)

  
 
 
(95,709)
 
 
(95,818)

Net assets
  
882,704
865,080


Capital and reserves
  

Called up share capital 
  
6,000
6,000

Investment property reserve
 8 
778,332
778,332

Profit and loss account
 8 
98,372
80,748

  
882,704
865,080


Page 1

 
W C PATERSON & SON LIMITED
REGISTERED NUMBER:00506194
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A Paterson
Director

Date: 3 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
W C PATERSON & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

W C Paterson & Sons Limited is a private company limited by shares and registered in England. The registration number and registered office details can be found on the information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Going concern

The company is reliant upon the continued support of the director, A Paterson. The director has given no indication that he will demand repayment of this loan within the foreseeable future and he will continue to support the business. Accordingly, these accounts have been prepared on the going concern basis. 

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
W C PATERSON & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2% reducing balance
Plant & machinery
-
15% - 20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
W C PATERSON & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Agricultural buildings
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 January 2023
281,101
37,178
318,279


Additions
-
166
166



At 31 December 2023

281,101
37,344
318,445



Depreciation


At 1 January 2023
214,919
33,159
248,078


Charge for the year on owned assets
1,326
737
2,063



At 31 December 2023

216,245
33,896
250,141



Net book value



At 31 December 2023
64,856
3,448
68,304



At 31 December 2022
66,182
4,019
70,201




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
64,856
66,182

64,856
66,182



5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
53,897
53,897

53,897
53,897


Page 5

 
W C PATERSON & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,813
2,086

Other debtors
23
110

Prepayments and accrued income
654
44

2,490
2,240



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
503,176
520,074

503,176
520,074



8.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve includes all previous revaluations less deferred tax.

Profit & loss account

The profit and loss account includes all current and prior period retained profits and losses. The distributable profits total £103,056 (2022 - £80,748). 

 
Page 6