IRIS Accounts Production v24.2.0.383 SC488966 director 1.8.23 31.7.24 31.7.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4889662023-07-31SC4889662024-07-31SC4889662023-08-012024-07-31SC4889662022-07-31SC4889662022-08-012023-07-31SC4889662023-07-31SC488966ns14:PoundSterling2023-08-012024-07-31SC488966ns10:Director12023-08-012024-07-31SC488966ns10:PrivateLimitedCompanyLtd2023-08-012024-07-31SC488966ns10:SmallEntities2023-08-012024-07-31SC488966ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-31SC488966ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC488966ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC488966ns10:FullAccounts2023-08-012024-07-31SC48896612023-08-012024-07-31SC488966ns5:CurrentFinancialInstruments2024-07-31SC488966ns5:CurrentFinancialInstruments2023-07-31SC488966ns5:ShareCapital2024-07-31SC488966ns5:ShareCapital2023-07-31SC488966ns5:RetainedEarningsAccumulatedLosses2024-07-31SC488966ns5:RetainedEarningsAccumulatedLosses2023-07-31SC488966ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-31SC488966ns5:PlantMachinery2023-08-012024-07-31SC488966ns5:NetGoodwill2023-07-31SC488966ns5:NetGoodwill2023-08-012024-07-31SC488966ns5:NetGoodwill2024-07-31SC488966ns5:NetGoodwill2023-07-31SC488966ns5:PlantMachinery2023-07-31SC488966ns5:PlantMachinery2024-07-31SC488966ns5:PlantMachinery2023-07-31SC488966ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31SC488966ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: SC488966















WARD & CO (PERTH) LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024






WARD & CO (PERTH) LTD (REGISTERED NUMBER: SC488966)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


WARD & CO (PERTH) LTD (REGISTERED NUMBER: SC488966)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,000
Tangible assets 5 6,311 3,351
6,311 8,351

CURRENT ASSETS
Debtors 6 65,105 63,244
Cash at bank 1,145,946 973,914
1,211,051 1,037,158
CREDITORS
Amounts falling due within one year 7 182,020 81,185
NET CURRENT ASSETS 1,029,031 955,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,035,342

964,324

PROVISIONS FOR LIABILITIES 1,199 637
NET ASSETS 1,034,143 963,687

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,034,142 963,686
1,034,143 963,687

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WARD & CO (PERTH) LTD (REGISTERED NUMBER: SC488966)

BALANCE SHEET - continued
31 JULY 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 director and authorised for issue on 3 October 2024 and were signed by:





J M Ward - Director


WARD & CO (PERTH) LTD (REGISTERED NUMBER: SC488966)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Ward & Co (Perth) Ltd. is a private company, limited by shares, registered in Scotland. The registered office is 13 George Street, Perth, PH1 5JY.

The financial statements are presented in 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. There were no material departures from that standard.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on the amounts that are recognised in the financial statements. The director considers there are no such significant judgements.

Turnover
Turnover represents amounts charged to clients for professional services, excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract.

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.

Goodwill, being the difference between the amount paid for the business and the aggregate value of its separable net assets, is being written off over the term of its expected useful economic life of 10 years.

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.
Plant and machinery etc - 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss.

WARD & CO (PERTH) LTD (REGISTERED NUMBER: SC488966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loan from banks and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income, or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

WARD & CO (PERTH) LTD (REGISTERED NUMBER: SC488966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 50,000
AMORTISATION
At 1 August 2023 45,000
Charge for year 5,000
At 31 July 2024 50,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 5,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 12,916
Additions 4,000
At 31 July 2024 16,916
DEPRECIATION
At 1 August 2023 9,565
Charge for year 1,040
At 31 July 2024 10,605
NET BOOK VALUE
At 31 July 2024 6,311
At 31 July 2023 3,351

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 61,183 44,604
Other debtors 3,922 18,640
65,105 63,244

WARD & CO (PERTH) LTD (REGISTERED NUMBER: SC488966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 177,342 72,557
Other creditors 4,678 8,628
182,020 81,185