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REGISTERED NUMBER: SC039534 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WILLIAMSTON ESTATES LIMITED

WILLIAMSTON ESTATES LIMITED (REGISTERED NUMBER: SC039534)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLIAMSTON ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr C Burnett
Mrs R Burnett
Mr J F Burnett





SECRETARY: Burnett & Reid LLP





REGISTERED OFFICE: 15 Golden Square
Aberdeen
AB10 1WF





REGISTERED NUMBER: SC039534 (Scotland)





ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY

WILLIAMSTON ESTATES LIMITED (REGISTERED NUMBER: SC039534)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 1,151,343 1,064,679
1,151,343 1,064,679

CURRENT ASSETS
Stocks 115,595 108,965
Debtors 5 608,805 760,075
Investments 6 242 242
Cash at bank 63,407 72,131
788,049 941,413
CREDITORS
Amounts falling due within one year 7 181,901 174,111
NET CURRENT ASSETS 606,148 767,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,757,491

1,831,981

CREDITORS
Amounts falling due after more than one year 8 (469,120 ) (506,717 )

PROVISIONS FOR LIABILITIES (44,648 ) (37,715 )
NET ASSETS 1,243,723 1,287,549

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 9 106,580 106,580
Other reserves 91,880 91,880
Retained earnings 1,035,263 1,079,089
SHAREHOLDERS' FUNDS 1,243,723 1,287,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

WILLIAMSTON ESTATES LIMITED (REGISTERED NUMBER: SC039534)

BALANCE SHEET - continued
31 DECEMBER 2023


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 7 November 2024 and were signed on its behalf by:





Mr C Burnett - Director


WILLIAMSTON ESTATES LIMITED (REGISTERED NUMBER: SC039534)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. 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.

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.

Setaside Entitlement are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

WILLIAMSTON ESTATES LIMITED (REGISTERED NUMBER: SC039534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 43,846
AMORTISATION
At 1 January 2023
and 31 December 2023 43,846
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 889,663 494,573 1,384,236
Additions 32,339 74,260 106,599
At 31 December 2023 922,002 568,833 1,490,835
DEPRECIATION
At 1 January 2023 - 319,557 319,557
Charge for year - 19,935 19,935
At 31 December 2023 - 339,492 339,492
NET BOOK VALUE
At 31 December 2023 922,002 229,341 1,151,343
At 31 December 2022 889,663 175,016 1,064,679

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,291 2,511
Other debtors 601,514 757,564
608,805 760,075

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 242 242

WILLIAMSTON ESTATES LIMITED (REGISTERED NUMBER: SC039534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
AMC loan less than 1 year 30,075 28,290
Trade creditors 1,253 16,075
Corporation tax (770 ) 12,803
Social security and other taxes (690 ) (235 )
Directors' loan accounts 136,833 105,578
Accrued expenses 7,200 3,600
181,901 174,111

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 8,000 8,000
Bank loans - 2-5 years 10,000 18,000
AMC loan - 1-2 years 30,075 28,290
AMC loan - 2-5 years 180,448 169,740
AMC loan more than 5 years 240,597 282,687
469,120 506,717

Amounts falling due in more than five years:

Repayable by instalments
AMC loan more than 5 years 240,597 282,687

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 106,580

10. DIRECTORS LOANS

The following advances and credits from directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr C Burnett and Mrs R Burnett
Balance outstanding at start of year 69,702 64,266
Amounts advanced 20,785 45,752
Amounts repaid (18,149 ) (40,316 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 72,338 69,702

WILLIAMSTON ESTATES LIMITED (REGISTERED NUMBER: SC039534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. DIRECTORS LOANS - continued

Mr J F Burnett
Balance outstanding at start of year 35,877 17,629
Amounts advanced 34,484 24,248
Amounts repaid (5,866 ) (6,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 64,495 35,877

The loans are interest free and there are no fixed terms of repayment.

11. RELATED PARTY TRANSACTIONS

During the year the company had the following transactions with Culsalmond Air Limited, a company in which Mr C Burnett and Mr J Burnett are also directors:
2023 2022
£    £   

Amount due from Culsalmond Air Ltd at 31 December 2021 742,772 875,180
Received from Culsalmond Air Ltd during year (200,000 ) (180,000 )
Interest 34,125. 47,592
Paid to Culsalmond Air Ltd during the year - -
Amount due from Culsalmond Air Ltd at 31 December 2022 576,897 742,772
There are no fixed terms of repayment.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J F Burnett.

Mr J Burnett, together with members of his close family, control the company by virtue of a 100% controlling interest in the issued ordinary share capital.