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REGISTERED NUMBER: SC034819 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

W.A.A Eddie Limited

W.A.A Eddie Limited (Registered number: SC034819)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.A.A Eddie Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: James Gordon Eddie
Mairi Gunson Eddie
James William Eddie





SECRETARY: Mairi Gunson Eddie





REGISTERED OFFICE: 84 Coxhill Street
Springburn
Glasgow
G21 1HL





REGISTERED NUMBER: SC034819 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

W.A.A Eddie Limited (Registered number: SC034819)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,233 49,946
Investment property 5 300,000 -
346,233 49,946

CURRENT ASSETS
Stocks 6,539 5,741
Debtors 6 213,560 265,726
Cash at bank and in hand 206,311 274,583
426,410 546,050
CREDITORS
Amounts falling due within one year 7 56,948 94,910
NET CURRENT ASSETS 369,462 451,140
TOTAL ASSETS LESS CURRENT
LIABILITIES

715,695

501,086

CREDITORS
Amounts falling due after more than one
year

8

(11,000

)

(11,000

)

PROVISIONS FOR LIABILITIES (70,680 ) (7,081 )
NET ASSETS 634,015 483,005

CAPITAL AND RESERVES
Called up share capital 9 7,000 7,000
Non-distributable FV reserve 10 223,292 -
Retained earnings 403,723 476,005
SHAREHOLDERS' FUNDS 634,015 483,005

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

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

W.A.A Eddie Limited (Registered number: SC034819)

Balance Sheet - continued
31 January 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:




James Gordon Eddie - Director Mairi Gunson Eddie - Director




James William Eddie - Director


W.A.A Eddie Limited (Registered number: SC034819)

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

1. STATUTORY INFORMATION

W.A.A Eddie 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors review the working capital requirements of the business on a regular basis all with a view to ensuring that there are sufficient resources to meet bills as they fall due. Taking account of current available resources and the budgeted level of business projected for the year ahead the directors are satisfied that they do have sufficient resources to achieve this. On that basis the directors have prepared the accounts on a going concern basis.

Turnover/revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold improvements - 5% on cost
Plant, machinery and equipment - 20% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

W.A.A Eddie Limited (Registered number: SC034819)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

W.A.A Eddie Limited (Registered number: SC034819)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant,
Short machinery
Heritable leasehold and Motor
property improvements equipment vehicles Totals
£    £    £    £    £   
COST
At 1 February 2023 29,441 37,274 36,488 42,300 145,503
Additions - - 7,200 14,000 21,200
Disposals - - - (5,850 ) (5,850 )
Reclassification/transfer (29,441 ) - - - (29,441 )
At 31 January 2024 - 37,274 43,688 50,450 131,412
DEPRECIATION
At 1 February 2023 20,373 33,667 30,782 10,735 95,557
Charge for year - 194 2,329 8,081 10,604
Eliminated on disposal - - - (609 ) (609 )
Charge written back (20,373 ) - - - (20,373 )
At 31 January 2024 - 33,861 33,111 18,207 85,179
NET BOOK VALUE
At 31 January 2024 - 3,413 10,577 32,243 46,233
At 31 January 2023 9,068 3,607 5,706 31,565 49,946

W.A.A Eddie Limited (Registered number: SC034819)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 290,932
Reclassification/transfer 9,068
At 31 January 2024 300,000
NET BOOK VALUE
At 31 January 2024 300,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 270,559
Cost 29,441
300,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 29,441 -
Aggregate depreciation (20,373 ) -

Investment property was valued on an open market basis on 29 April 2024 by Dalkin + Co, Property Consultants .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 207,671 261,417
Other debtors 5,889 4,309
213,560 265,726

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 43,032 61,996
Taxation and social security 3,068 23,880
Other creditors 10,848 9,034
56,948 94,910

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 11,000 11,000

W.A.A Eddie Limited (Registered number: SC034819)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 11,000 11,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
7,000 Ordinary £1 7,000 7,000

10. RESERVES
Non-distributable
FV
reserve
£   
Revaluation 223,292

At 31 January 2024 223,292

11. RELATED PARTY DISCLOSURES

The company operates a loan account with the directors. At the year end, the balance due to the directors was £923 (2023: £289). This loan is unsecured, interest free and has no fixed repayment terms.