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REGISTERED NUMBER: SC286590 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

W. Rae Limited

W. Rae Limited (Registered number: SC286590)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W. Rae Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: W J C Rae
Mrs E G N Rae





REGISTERED OFFICE: Upper Floor, Unit 1
82 Muir Street
Hamilton
South Lanarkshire
ML3 6BJ





REGISTERED NUMBER: SC286590 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

W. Rae Limited (Registered number: SC286590)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 101,074 86,717

CURRENT ASSETS
Stocks 29,836 74,109
Debtors 5 280,707 297,951
Cash at bank 177,809 144,733
488,352 516,793
CREDITORS
Amounts falling due within one year 6 133,256 152,903
NET CURRENT ASSETS 355,096 363,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

456,170

450,607

CREDITORS
Amounts falling due after more than
one year

7

-

(8,193

)

PROVISIONS FOR LIABILITIES (25,269 ) (16,476 )
NET ASSETS 430,901 425,938

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 430,897 425,934
430,901 425,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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. Rae Limited (Registered number: SC286590)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





W J C Rae - Director


W. Rae Limited (Registered number: SC286590)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

W. Rae 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 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 the cost less estimated residual value of each asset over its estimated useful life.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.


W. Rae Limited (Registered number: SC286590)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

W. Rae Limited (Registered number: SC286590)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 212,029
Additions 48,950
Disposals (19,812 )
At 30 April 2024 241,167
DEPRECIATION
At 1 May 2023 125,312
Charge for year 29,889
Eliminated on disposal (15,108 )
At 30 April 2024 140,093
NET BOOK VALUE
At 30 April 2024 101,074
At 30 April 2023 86,717

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 229,724 247,390
Amounts owed by participating interests 45,959 45,959
Prepayments and accrued income 5,024 4,602
280,707 297,951

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 1,157 1,748
Hire purchase contracts 8,193 14,789
Trade creditors 52,650 43,737
Tax 32,633 45,583
Social security and other taxes (1,528 ) 7,894
VAT 35,378 35,451
Employment cost creditor - 145
Directors' current accounts 401 460
Accrued expenses 4,372 3,096
133,256 152,903

W. Rae Limited (Registered number: SC286590)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts - 8,193

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 8,193 22,982

Hire purchase contracts are secured on the assets to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
W J C Rae and Mrs E G N Rae
Balance outstanding at start of year (459 ) (936 )
Amounts advanced 58 477
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (401 ) (459 )

Interest free loan (from)/to director. No particular terms of repayment.