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REGISTERED NUMBER: SC045983 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

WHIGHAMS YOUNG & SAUNDERS LIMITED

WHIGHAMS YOUNG & SAUNDERS LIMITED (REGISTERED NUMBER: SC045983)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WHIGHAMS YOUNG & SAUNDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: W S B Sanderson
A D L F B Brett-Smith





SECRETARY: W S B Sanderson





REGISTERED OFFICE: 8 Academy Street
AYR
Ayrshire
KA7 1HT





REGISTERED NUMBER: SC045983 (Scotland)





ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG

WHIGHAMS YOUNG & SAUNDERS LIMITED (REGISTERED NUMBER: SC045983)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 370,000 373,000

CURRENT ASSETS
Cash at bank - 2,367

CREDITORS
Amounts falling due within one year 5 29,944 24,073
NET CURRENT LIABILITIES (29,944 ) (21,706 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

340,056

351,294

CAPITAL AND RESERVES
Called up share capital 6 10,000 10,000
Revaluation reserve 7 378,747 379,869
Retained earnings 7 (48,691 ) (38,575 )
SHAREHOLDERS' FUNDS 340,056 351,294

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.

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 13 January 2025 and were signed on its behalf by:





W S B Sanderson - Director


WHIGHAMS YOUNG & SAUNDERS LIMITED (REGISTERED NUMBER: SC045983)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Whighams Young & Saunders 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.

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 as modified by the revaluation of certain assets.

Investment property
In accordance with FRS 102, investment properties are revalued annually at fair value. Changes to fair value are reflected in the profit and loss account .

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in FRS 102. The director considers that, because these properties are not held for their consumption, but for their investment potential, depreciation of 0.67% will give a true and fair view.

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.

3. EMPLOYEES AND DIRECTORS

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

WHIGHAMS YOUNG & SAUNDERS LIMITED (REGISTERED NUMBER: SC045983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 450,000
DEPRECIATION
At 1 May 2023 77,000
Charge for year 3,000
At 30 April 2024 80,000
NET BOOK VALUE
At 30 April 2024 370,000
At 30 April 2023 373,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2000 150,000
Valuation in 2015 300,000
450,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 150,000 150,000
Aggregate depreciation (80,000 ) (77,000 )

The investment property was valued on a fair value basis on 30 April 2023 by the Director, Mr I G Cumming .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 4,551 8,160
Other creditors 25,393 15,913
29,944 24,073

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

WHIGHAMS YOUNG & SAUNDERS LIMITED (REGISTERED NUMBER: SC045983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 (38,575 ) 379,869 341,294
Profit for the year 16,402 16,402
Dividends (18,000 ) (18,000 )
Transfers to and from Reserves 1,122 (1,122 ) -
Bank written off on purchase (9,640 ) - (9,640 )
At 30 April 2024 (48,691 ) 378,747 330,056

8. RELATED PARTY DISCLOSURES

During the year the Company operated a current account with its shareholder Corney and Barrow Ltd.. As at the year end the amount owed to its parent was £8,242.