0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-06 Sage Accounts Production Advanced 2023 - FRS102_2023 1,077,842 1,077,842 1,077,842 xbrli:pure xbrli:shares iso4217:GBP SC771737 2023-06-06 2023-12-31 SC771737 2023-12-31 SC771737 2023-06-05 SC771737 bus:LeadAgentIfApplicable 2023-06-06 2023-12-31 SC771737 bus:Director1 2023-06-06 2023-12-31 SC771737 bus:Director2 2023-06-06 2023-12-31 SC771737 core:WithinOneYear 2023-12-31 SC771737 core:AfterOneYear 2023-12-31 SC771737 core:ShareCapital 2023-12-31 SC771737 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC771737 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 SC771737 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 SC771737 core:Non-currentFinancialInstruments 2023-12-31 SC771737 bus:SmallEntities 2023-06-06 2023-12-31 SC771737 bus:AuditExemptWithAccountantsReport 2023-06-06 2023-12-31 SC771737 bus:SmallCompaniesRegimeForAccounts 2023-06-06 2023-12-31 SC771737 bus:PrivateLimitedCompanyLtd 2023-06-06 2023-12-31 SC771737 bus:FullAccounts 2023-06-06 2023-12-31 SC771737 core:AllAssociates 2023-06-06 2023-12-31
COMPANY REGISTRATION NUMBER: SC771737
Andrew Wright Holdings Ltd
Filleted Unaudited Financial Statements
31 December 2023
Andrew Wright Holdings Ltd
Financial Statements
Period from 6 June 2023 to 31 December 2023
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Andrew Wright Holdings Ltd
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Andrew Wright Holdings Ltd
Period from 6 June 2023 to 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andrew Wright Holdings Ltd for the period ended 31 December 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Andrew Wright Holdings Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Andrew Wright Holdings Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrew Wright Holdings Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Andrew Wright Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Andrew Wright Holdings Ltd. You consider that Andrew Wright Holdings Ltd is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Andrew Wright Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
20 September 2024
Andrew Wright Holdings Ltd
Statement of Financial Position
31 December 2023
31 Dec 23
Note
£
£
Fixed assets
Investments
4
1,077,842
Current assets
Debtors
5
8,443
Cash at bank and in hand
125,000
---------
133,443
Creditors: amounts falling due within one year
6
411,943
---------
Net current liabilities
278,500
------------
Total assets less current liabilities
799,342
Creditors: amounts falling due after more than one year
7
700,302
---------
Net assets
99,040
---------
Capital and reserves
Called up share capital
100,000
Profit and loss account
( 960)
---------
Shareholders funds
99,040
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 September 2024 , and are signed on behalf of the board by:
Mr M Bradford
Mr A J Fraser
Director
Director
Company registration number: SC771737
Andrew Wright Holdings Ltd
Notes to the Financial Statements
Period from 6 June 2023 to 31 December 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 9/11 Telford Place, South Newmoor Industrial Estate, Irvine, Ayrshire, KA114HW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.
Reporting period
The company is presenting the financial statements for a 7 month period to align the accounting period end with the end of the calendar year and with the other group companies.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
4. Investments
Shares in group undertakings
£
Cost
At 6 June 2023
Additions
1,077,842
------------
At 31 December 2023
1,077,842
------------
Impairment
At 6 June 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
1,077,842
------------
Details of the company's subsidiaries at 31 December 2023 are as follows: Name of undertaking- Andrew Wright 2010 Holdings Limited Registered Office- 9/11 Telford Place, South Newmoor Industrial Estate, Irvine KA11 4HW Class of shares held- Ordinary
% held Direct- 100.00%
Name of undertaking- Andrew Wright Glass Limited
Registered Office- 9 Telford Place, South Newmoor Industrial Estate, Irvine KA11 4HW Class of shares held- Ordinary
% held Direct- 100.00%
5. Debtors
31 Dec 23
£
Other debtors
8,443
-------
6. Creditors: amounts falling due within one year
31 Dec 23
£
Bank loans and overdrafts
374,757
Amounts owed to group undertakings
36,226
Accruals and deferred income
960
---------
411,943
---------
7. Creditors: amounts falling due after more than one year
31 Dec 23
£
Bank loans and overdrafts
700,302
---------
8. Secured debt
Business Loans Scotland Debt Finance L.P. hold a floating charge covering all the company's undertakings and all property and assets.
Charles and Bernadine Berry hold a floating charge over the company's property and assets containing negative pledge.
9. Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. At the period end, £150,000 was owed to a shareholder. The amount is unsecured, interest free and repayable on demand.
10. Controlling party
The company is not under the control of any one individual or entity.