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REGISTERED NUMBER: SC276366 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Brough Wolstenholme Limited

Brough Wolstenholme Limited (Registered number: SC276366)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Brough Wolstenholme Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D Wolstenholme
Mrs G Wolstenholme



SECRETARY: Mrs G Wolstenholme



REGISTERED OFFICE: Crowness Road
Hatston Industrial Estate
Kirkwall
Orkney
KW15 1RE



REGISTERED NUMBER: SC276366 (Scotland)



ACCOUNTANTS: Orcadia
Chartered Accountants
1 - 3 East Road
Kirkwall
Orkney
KW15 1HZ



BANKERS: Bank of Scotland
56 Albert Street
Kirkwall
Orkney
KW15 1HJ

Brough Wolstenholme Limited (Registered number: SC276366)

Abridged Statement of Financial Position
31 December 2023

2022 2023
£    £    Notes £    £   
FIXED ASSETS
20,470 Intangible assets 4 10,235
50,909 Tangible assets 5 24,568
71,379 34,803

CURRENT ASSETS
92,548 Stocks 89,807
14,062 Debtors 7,477
16,709 Cash at bank and in hand 19,288
123,319 116,572
CREDITORS
195,609 Amounts falling due within one year 174,764
(72,290 ) NET CURRENT LIABILITIES (58,192 )
(911 ) TOTAL ASSETS LESS CURRENT
LIABILITIES

(23,389

)

2,884 PROVISIONS FOR LIABILITIES -
(3,795 ) NET LIABILITIES (23,389 )

Brough Wolstenholme Limited (Registered number: SC276366)

Abridged Statement of Financial Position - continued
31 December 2023

2022 2023
£    £    Notes £    £   
CAPITAL AND RESERVES
200 Called up share capital 200
(3,995 ) Retained earnings (23,589 )
(3,795 ) SHAREHOLDERS' FUNDS (23,389 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





Mrs G Wolstenholme - Director


Brough Wolstenholme Limited (Registered number: SC276366)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Brough Wolstenholme 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of goods and cash sales, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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 each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% 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.

Brough Wolstenholme Limited (Registered number: SC276366)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors re initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Brough Wolstenholme Limited (Registered number: SC276366)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 204,700
AMORTISATION
At 1 January 2023 184,230
Amortisation for year 10,235
At 31 December 2023 194,465
NET BOOK VALUE

At 31 December 2023 10,235
At 31 December 2022 20,470

Brough Wolstenholme Limited (Registered number: SC276366)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 111,764
Disposals (26,510 )
At 31 December 2023 85,254
DEPRECIATION
At 1 January 2023 60,855
Charge for year 3,304
Eliminated on disposal (3,473 )
At 31 December 2023 60,686
NET BOOK VALUE
At 31 December 2023 24,568
At 31 December 2022 50,909

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 63,596

7. RELATED PARTY DISCLOSURES

Loan account balance due to directors at 31 December 2023 was £146,932 (2022: £95,348)