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REGISTERED NUMBER: SC465354 (Scotland)















Welch Construction Limited

Unaudited Financial Statements for the Year Ended 31 August 2024






Welch Construction Limited (Registered number: SC465354)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Welch Construction Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: C A Welch (Snr)





REGISTERED OFFICE: Seaton House
Seaton Estate
Seaton Road
Seaton
Arbroath, Angus
DD11 5SE





REGISTERED NUMBER: SC465354 (Scotland)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Welch Construction Limited (Registered number: SC465354)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,628 32,002

CURRENT ASSETS
Inventories 245,785 245,785
Debtors 5 324,688 329,476
Cash at bank 2,227 1,191
572,700 576,452
CREDITORS
Amounts falling due within one year 6 408,248 406,727
NET CURRENT ASSETS 164,452 169,725
TOTAL ASSETS LESS CURRENT LIABILITIES 191,080 201,727

PROVISIONS FOR LIABILITIES 2,921 2,921
NET ASSETS 188,159 198,806

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 188,158 198,805
188,159 198,806

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

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

Welch Construction Limited (Registered number: SC465354)

Statement of Financial Position - continued
31 August 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 director and authorised for issue on 8 October 2024 and were signed by:





C A Welch (Snr) - Director


Welch Construction Limited (Registered number: SC465354)

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

1. STATUTORY INFORMATION

Welch Construction 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.

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.
Land and buildings - not provided
Plant and machinery etc - 25% on cost and 20% on cost

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.
In respect of work in progress and finished goods, cost includes an appropriate proportion of attributable overheads according to the stage of manufacture/completion.

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

Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement.

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 statement of financial position date.

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.

Welch Construction Limited (Registered number: SC465354)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 16,628 80,100 96,728
Disposals - (53,350 ) (53,350 )
At 31 August 2024 16,628 26,750 43,378
DEPRECIATION
At 1 September 2023 - 64,726 64,726
Charge for year - 5,000 5,000
Eliminated on disposal - (52,976 ) (52,976 )
At 31 August 2024 - 16,750 16,750
NET BOOK VALUE
At 31 August 2024 16,628 10,000 26,628
At 31 August 2023 16,628 15,374 32,002

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,500 8,000
Other debtors 319,188 321,476
324,688 329,476

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 75,272 74,759
Other creditors 332,976 331,968
408,248 406,727

7. SECURED DEBTS

Assets of the company are held as security, in favour of the Bank of Scotland for any monies and liabilities due owing or incurred.