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REGISTERED NUMBER: SC254554 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

John Wilkie Papermill Services Limited

John Wilkie Papermill Services Limited (Registered number: SC254554)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


John Wilkie Papermill Services Limited (Registered number: SC254554)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,832 14,289

CURRENT ASSETS
Stocks 3,965 4,865
Debtors 5 8,966 2,147
Cash at bank 598,789 472,471
611,720 479,483
CREDITORS
Amounts falling due within one year 6 (37,868 ) (20,342 )
NET CURRENT ASSETS 573,852 459,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

578,684

473,430

PROVISIONS FOR LIABILITIES (1,084 ) -
NET ASSETS 577,600 473,430

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 576,600 472,430
SHAREHOLDERS' FUNDS 577,600 473,430

John Wilkie Papermill Services Limited (Registered number: SC254554)

Balance Sheet - continued
31 August 2024


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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:




Mr J Wilkie - Director



Mrs C Wilkie - Director


John Wilkie Papermill Services Limited (Registered number: SC254554)

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

1. STATUTORY INFORMATION

John Wilkie Papermill Services Limited is a private company, limited by shares, domiciled in Scotland, registration number SC254554 . The registered office is Maryfield, Manse Lane, St Fillans, Perthshire, PH6 2NF.

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 represents net invoiced sales of goods and services in respect of supplying paper machinery, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

John Wilkie Papermill Services Limited (Registered number: SC254554)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 September 2023 40,722 11,869 52,591
Additions - 2,683 2,683
Disposals (23,941 ) - (23,941 )
At 31 August 2024 16,781 14,552 31,333
DEPRECIATION
At 1 September 2023 27,714 10,588 38,302
Charge for year 2,602 1,526 4,128
Eliminated on disposal (15,929 ) - (15,929 )
At 31 August 2024 14,387 12,114 26,501
NET BOOK VALUE
At 31 August 2024 2,394 2,438 4,832
At 31 August 2023 13,008 1,281 14,289

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 5,910 656
Other debtors 3,056 1,491
8,966 2,147

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 1,796 136
Taxation and social security 29,628 9,892
Other creditors 6,444 10,314
37,868 20,342