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REGISTERED NUMBER: 11000309 (England and Wales)















WILSON MATHESON CONSTRUCTION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WILSON MATHESON CONSTRUCTION LTD (REGISTERED NUMBER: 11000309)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5

Accountants' Report 6

WILSON MATHESON CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R R Wilson
C H Matheson



REGISTERED OFFICE: 4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR



REGISTERED NUMBER: 11000309 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR



BANKERS: Natwest
148 High Street
Chatham
Kent
ME4 4DB

WILSON MATHESON CONSTRUCTION LTD (REGISTERED NUMBER: 11000309)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,516 11,482

CURRENT ASSETS
Stocks 308 12,996
Debtors 5 41,702 8,132
Cash at bank 1,744 68
43,754 21,196
CREDITORS
Amounts falling due within one year 6 35,763 18,573
NET CURRENT ASSETS 7,991 2,623
TOTAL ASSETS LESS CURRENT LIABILITIES 55,507 14,105

CREDITORS
Amounts falling due after more than one year 7 (33,042 ) -

PROVISIONS FOR LIABILITIES (11,219 ) (2,182 )
NET ASSETS 11,246 11,923

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 11,146 11,823
SHAREHOLDERS' FUNDS 11,246 11,923

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

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

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 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 25 September 2024 and were signed on its behalf by:





C H Matheson - Director


WILSON MATHESON CONSTRUCTION LTD (REGISTERED NUMBER: 11000309)

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

1. STATUTORY INFORMATION

Wilson Matheson Construction Ltd is a private company, limited by shares , registered in England and Wales. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Work in progress
Work in progress is stated at the lower of cost and estimated invoice price less costs to complete the project.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.


WILSON MATHESON CONSTRUCTION LTD (REGISTERED NUMBER: 11000309)

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

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 23,880
Additions 56,994
Disposals (23,880 )
At 31 March 2024 56,994
DEPRECIATION
At 1 April 2023 12,398
Charge for year 9,478
Eliminated on disposal (12,398 )
At 31 March 2024 9,478
NET BOOK VALUE
At 31 March 2024 47,516
At 31 March 2023 11,482

The net book value of tangible fixed assets includes £ 47,516 in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,031 1,435
Other debtors 29,671 6,697
41,702 8,132

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 11,377 -
Trade creditors 337 987
Taxation and social security 9,319 8,143
Other creditors 14,730 9,443
35,763 18,573

WILSON MATHESON CONSTRUCTION LTD (REGISTERED NUMBER: 11000309)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 33,042 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
R R Wilson
Balance outstanding at start of year 6,897 3,979
Amounts advanced 42,727 23,503
Amounts repaid (40,781 ) (20,585 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,843 6,897

C H Matheson
Balance outstanding at start of year (6,218 ) 10,135
Amounts advanced 30,600 -
Amounts repaid (49,087 ) (16,353 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (24,705 ) (6,218 )

The Director's loan account is unsecured and includes interest at the official HMRC rate.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WILSON MATHESON CONSTRUCTION LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wilson Matheson Construction Ltd for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Wilson Matheson Construction Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wilson Matheson Construction Ltd and state those matters that we have agreed to state to the Board of Directors of Wilson Matheson Construction Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wilson Matheson Construction 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 profit of Wilson Matheson Construction Ltd. You consider that Wilson Matheson Construction Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wilson Matheson Construction 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.






Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR


25 September 2024