IAN WHITE LIMITED

Company Registration Number:
SC081064 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

IAN WHITE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Balance sheet notes

IAN WHITE LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 249,842 270,088
Total fixed assets: 249,842 270,088
Current assets
Stocks: 4 165,960 171,892
Debtors: 5 1,640,357 1,674,164
Cash at bank and in hand: 444,851 544,686
Total current assets: 2,251,168 2,390,742
Creditors: amounts falling due within one year: 6 ( 55,015 ) ( 91,547 )
Net current assets (liabilities): 2,196,153 2,299,195
Total assets less current liabilities: 2,445,995 2,569,283
Provision for liabilities: ( 14,102 ) ( 22,899 )
Total net assets (liabilities): 2,431,893 2,546,384
Capital and reserves
Called up share capital: 15,000 15,000
Profit and loss account: 2,416,893 2,531,384
Total Shareholders' funds: 2,431,893 2,546,384

The notes form part of these financial statements

IAN WHITE LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 26 September 2024
and signed on behalf of the board by:

Name: S White
Status: Director

The notes form part of these financial statements

IAN WHITE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Buildings - 2% reducing balance Plant & machinery - 20% reducing balance Motor vehicles - 25% reducing balance

    Valuation information and policy

    Stocks are stated at the lower of cost and realisable value.

    Other accounting policies

    The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

IAN WHITE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

IAN WHITE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 296,588 263,536 34,460 594,584
Additions 3,583 3,583
Disposals
Revaluations
Transfers
At 31 December 2023 296,588 267,119 34,460 598,167
Depreciation
At 1 January 2023 118,096 196,377 10,023 324,496
Charge for year 3,570 14,149 6,110 23,829
On disposals
Other adjustments
At 31 December 2023 121,666 210,526 16,133 348,325
Net book value
At 31 December 2023 174,922 56,593 18,327 249,842
At 31 December 2022 178,492 67,159 24,437 270,088

IAN WHITE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Stocks

2023 2022
£ £
Stocks 165,960 171,892
Total 165,960 171,892

IAN WHITE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 30,643 100,476
Prepayments and accrued income 3,936 3,747
Other debtors 1,605,778 1,569,941
Total 1,640,357 1,674,164

IAN WHITE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 51,530 59,283
Taxation and social security 3,485 24,988
Other creditors 7,276
Total 55,015 91,547