Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Alistair James Henderson 09/03/2005 Carole Anne Mann 09/03/2005 James Patrick Moir 09/03/2005 10 December 2024 The principal activity of the Company during the financial year was haulage and road transport. SC281256 2024-04-30 SC281256 bus:Director1 2024-04-30 SC281256 bus:Director2 2024-04-30 SC281256 bus:Director3 2024-04-30 SC281256 2023-04-30 SC281256 core:CurrentFinancialInstruments 2024-04-30 SC281256 core:CurrentFinancialInstruments 2023-04-30 SC281256 core:Non-currentFinancialInstruments 2024-04-30 SC281256 core:Non-currentFinancialInstruments 2023-04-30 SC281256 core:ShareCapital 2024-04-30 SC281256 core:ShareCapital 2023-04-30 SC281256 core:CapitalRedemptionReserve 2024-04-30 SC281256 core:CapitalRedemptionReserve 2023-04-30 SC281256 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC281256 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC281256 core:LandBuildings 2023-04-30 SC281256 core:PlantMachinery 2023-04-30 SC281256 core:Vehicles 2023-04-30 SC281256 core:FurnitureFittings 2023-04-30 SC281256 core:LandBuildings 2024-04-30 SC281256 core:PlantMachinery 2024-04-30 SC281256 core:Vehicles 2024-04-30 SC281256 core:FurnitureFittings 2024-04-30 SC281256 bus:OrdinaryShareClass1 2024-04-30 SC281256 2023-05-01 2024-04-30 SC281256 bus:FilletedAccounts 2023-05-01 2024-04-30 SC281256 bus:SmallEntities 2023-05-01 2024-04-30 SC281256 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC281256 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC281256 bus:Director1 2023-05-01 2024-04-30 SC281256 bus:Director2 2023-05-01 2024-04-30 SC281256 bus:Director3 2023-05-01 2024-04-30 SC281256 core:LandBuildings core:TopRangeValue 2023-05-01 2024-04-30 SC281256 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 SC281256 core:Vehicles core:TopRangeValue 2023-05-01 2024-04-30 SC281256 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 SC281256 2022-05-01 2023-04-30 SC281256 core:LandBuildings 2023-05-01 2024-04-30 SC281256 core:PlantMachinery 2023-05-01 2024-04-30 SC281256 core:Vehicles 2023-05-01 2024-04-30 SC281256 core:FurnitureFittings 2023-05-01 2024-04-30 SC281256 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 SC281256 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 SC281256 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC281256 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC281256 (Scotland)

W & H LESLIE (ABERDEEN) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

W & H LESLIE (ABERDEEN) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

W & H LESLIE (ABERDEEN) LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
W & H LESLIE (ABERDEEN) LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 2,958,213 2,449,836
Investment property 5 205,350 205,350
3,163,563 2,655,186
Current assets
Stocks 12,271 13,736
Debtors 6 1,689,234 1,721,847
Cash at bank and in hand 409,048 323,544
2,110,553 2,059,127
Creditors: amounts falling due within one year 7 ( 1,382,647) ( 1,245,788)
Net current assets 727,906 813,339
Total assets less current liabilities 3,891,469 3,468,525
Creditors: amounts falling due after more than one year 8 ( 989,698) ( 754,118)
Provision for liabilities 9 ( 573,642) ( 478,390)
Net assets 2,328,129 2,236,017
Capital and reserves
Called-up share capital 10 15,000 15,000
Capital redemption reserve 5,000 5,000
Profit and loss account 2,308,129 2,216,017
Total shareholders' funds 2,328,129 2,236,017

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of W & H Leslie (Aberdeen) Limited (registered number: SC281256) were approved and authorised for issue by the Board of Directors on 10 December 2024. They were signed on its behalf by:

Carole Anne Mann
Director
W & H LESLIE (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
W & H LESLIE (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W & H Leslie (Aberdeen) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit 8, Keir's Industrial Park Hill Of Cottown, Kintore, Inverurie, AB51 0YA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

A prior period adjustment has been included in the accounts for a late adjustment to the fixed assets as detailed at note 2. The error has been corrected as soon as it came to light.

Turnover

Turnover represents the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue from contracts for the provision of haulage services is recognised by reference to the completion point of each assignment.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery 10 years straight line
Vehicles 4 years straight line
Fixtures and fittings 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and debt factoring, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Prior year adjustment

The financial statements to 30 April 2023 have been restated to account for errors in recording fixed asset movements in the year. The impact of adjustments made is summarised below.

As previously reported Adjustment As restated
Year ended 30 April 2023 £ £ £
Retained earnings (2,220,350) 4,333 (2,216,017)
Trade creditors (505,241) (78,000) (583,241)
Fixed assets 2,389,169 60,667 2,449,836
Taxation and social security (134,861) 13,000 (121,861)

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 41 41

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 May 2023 450,996 1,270,454 3,315,530 5,663 5,042,643
Additions 0 352,900 887,439 0 1,240,339
Disposals 0 ( 188,400) ( 488,300) 0 ( 676,700)
At 30 April 2024 450,996 1,434,954 3,714,669 5,663 5,606,282
Accumulated depreciation
At 01 May 2023 46,494 754,727 1,785,923 5,663 2,592,807
Charge for the financial year 5,041 112,800 566,929 0 684,770
Disposals 0 ( 188,400) ( 441,108) 0 ( 629,508)
At 30 April 2024 51,535 679,127 1,911,744 5,663 2,648,069
Net book value
At 30 April 2024 399,461 755,827 1,802,925 0 2,958,213
At 30 April 2023 404,502 515,727 1,529,607 0 2,449,836

5. Investment property

Investment property
£
Valuation
As at 01 May 2023 205,350
As at 30 April 2024 205,350

Valuation

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 April 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6. Debtors

2024 2023
£ £
Trade debtors 1,598,035 1,670,309
Corporation tax 12,133 702
Other debtors 79,066 50,836
1,689,234 1,721,847

Included in other debtors is a debt factoring balance of £58,208 (2023 - £41,392) which is covered by a floating charge.

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 16,985 14,164
Trade creditors 638,067 583,241
Taxation and social security 91,699 121,861
Obligations under finance leases and hire purchase contracts 534,871 448,669
Other creditors 101,025 77,853
1,382,647 1,245,788

Bank loans and overdrafts are secured by a standard security and floating charge over assets of the company. Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 34,836
Obligations under finance leases and hire purchase contracts 989,698 719,282
989,698 754,118

Bank loans and overdrafts are secured by a standard security and floating charge over assets of the company. Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

9. Provision for liabilities

2024 2023
£ £
Deferred tax 573,642 478,390

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
15,000 Ordinary shares of £ 1.00 each 15,000 15,000