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REGISTERED NUMBER: SC263514 (Scotland)












Financial Statements

for the Year Ended 31 March 2024

for

The Wishing Well (Scotland) Limited

The Wishing Well (Scotland) Limited (Registered number: SC263514)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Wishing Well (Scotland) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs S Venes
M A Reilly
S P Venes





SECRETARY: Mrs S Venes





REGISTERED OFFICE: 63 Montgomery Street
Eaglesham
GLASGOW
G76 OAU





REGISTERED NUMBER: SC263514 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

The Wishing Well (Scotland) Limited (Registered number: SC263514)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 158,609 164,880
158,609 164,880

CURRENT ASSETS
Inventories 500 300
Debtors 6 3,368 4,107
Cash at bank and in hand 5,790 3,276
9,658 7,683
CREDITORS
Amounts falling due within one year 7 135,019 128,221
NET CURRENT LIABILITIES (125,361 ) (120,538 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,248

44,342

PROVISIONS FOR LIABILITIES - 1,101
NET ASSETS 33,248 43,241

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 33,148 43,141
SHAREHOLDERS' FUNDS 33,248 43,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Wishing Well (Scotland) Limited (Registered number: SC263514)

Balance Sheet - continued
31 March 2024


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 31 May 2024 and were signed on its behalf by:





Mrs S Venes - Director


The Wishing Well (Scotland) Limited (Registered number: SC263514)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Wishing Well (Scotland) 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.

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

The Coronavirus outbreak has created great uncertainty and many challenges in all companies. In order to protect our business, we have taken prompt action to minimise costs across the company. While the impact of COVID-19 is still uncertain and the final impact on the company cannot be accurately predicted, the directors have reviewed their projections and believe that they will be able to trade through the current difficult climate.

Revenue
Turnover represents the amounts derived from the provision of goods excluding value added tax and trade discounts.Revenue is recognised on receipt of cash or card payment.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on reducing balance

Inventories
Inventories 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.


The Wishing Well (Scotland) Limited (Registered number: SC263514)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 105,000
AMORTISATION
At 1 April 2023
and 31 March 2024 105,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

The Wishing Well (Scotland) Limited (Registered number: SC263514)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 255,586 51,681 307,267
DEPRECIATION
At 1 April 2023 96,501 45,886 142,387
Charge for year 5,112 1,159 6,271
At 31 March 2024 101,613 47,045 148,658
NET BOOK VALUE
At 31 March 2024 153,973 4,636 158,609
At 31 March 2023 159,085 5,795 164,880

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,368 4,107

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,853 5,361
Other creditors 129,166 122,860
135,019 128,221

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100