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REGISTERED NUMBER: SC355302 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Stewart Wilson Joinery Ltd

Stewart Wilson Joinery Ltd (Registered number: SC355302)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stewart Wilson Joinery Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr S Wilson
Mr C L Cormack
Mrs L M Wilson





REGISTERED OFFICE: Claymires Croft
Rothiemay
Huntly
Aberdeenshire
AB54 7PH





REGISTERED NUMBER: SC355302 (Scotland)





ACCOUNTANTS: SBP
Accountants
9 Carmelite Street
Banff
Aberdeenshire
AB45 1AF

Stewart Wilson Joinery Ltd (Registered number: SC355302)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 405,571 391,229

CURRENT ASSETS
Stocks 21,875 42,390
Debtors 5 123,196 165,693
Cash at bank 88,061 18,604
233,132 226,687
CREDITORS
Amounts falling due within one year 6 248,192 231,964
NET CURRENT LIABILITIES (15,060 ) (5,277 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,511

385,952

CREDITORS
Amounts falling due after more than one
year

7

(75,512

)

(70,517

)

PROVISIONS FOR LIABILITIES (44,196 ) (41,011 )
NET ASSETS 270,803 274,424

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 270,703 274,324
270,803 274,424

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.

Stewart Wilson Joinery Ltd (Registered number: SC355302)

Balance Sheet - continued
31 March 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 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 21 November 2024 and were signed on its behalf by:





Mr S Wilson - Director


Stewart Wilson Joinery Ltd (Registered number: SC355302)

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

1. STATUTORY INFORMATION

Stewart Wilson Joinery Ltd 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.

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 the amounts (excluding value added tax) derived from the provision of goods and services to customers. Revenue is recognised at the point of sale.

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.
Freehold property - not provided
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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 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.

Stewart Wilson Joinery Ltd (Registered number: SC355302)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 19 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 157,380 19,483 163,638
Additions - - 4,535
Disposals - - (6,532 )
At 31 March 2024 157,380 19,483 161,641
DEPRECIATION
At 1 April 2023 - 1,950 99,268
Charge for year - 1,949 9,959
Eliminated on disposal - - (4,794 )
At 31 March 2024 - 3,899 104,433
NET BOOK VALUE
At 31 March 2024 157,380 15,584 57,208
At 31 March 2023 157,380 17,533 64,370

Stewart Wilson Joinery Ltd (Registered number: SC355302)

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

4. TANGIBLE FIXED ASSETS - continued

Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 18,651 280,596 883 640,631
Additions - 82,100 3,029 89,664
Disposals (5,363 ) (23,875 ) (183 ) (35,953 )
At 31 March 2024 13,288 338,821 3,729 694,342
DEPRECIATION
At 1 April 2023 9,027 138,865 292 249,402
Charge for year 1,185 55,473 1,231 69,797
Eliminated on disposal (3,633 ) (21,940 ) (61 ) (30,428 )
At 31 March 2024 6,579 172,398 1,462 288,771
NET BOOK VALUE
At 31 March 2024 6,709 166,423 2,267 405,571
At 31 March 2023 9,624 141,731 591 391,229

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 82,930
Additions 82,100
At 31 March 2024 165,030
DEPRECIATION
At 1 April 2023 20,733
Charge for year 36,074
At 31 March 2024 56,807
NET BOOK VALUE
At 31 March 2024 108,223
At 31 March 2023 62,197

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 113,773 148,985
Other debtors 9,423 16,708
123,196 165,693

Stewart Wilson Joinery Ltd (Registered number: SC355302)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 29,997 15,000
Trade creditors 94,485 111,524
Taxation and social security 57,323 61,902
Other creditors 66,387 43,538
248,192 231,964

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 55,410 38,333
Other creditors 20,102 32,184
75,512 70,517

8. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Other loans 10,648 8,333

Amounts falling due between one and two years:
Other loans - 1-2 years 20,102 32,184

9. RELATED PARTY DISCLOSURES

The directors operate a current account with the company and as at 31 March 2024 the balance owed to the director by the company was £16,995 (2023 - £837).