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REGISTERED NUMBER: SC344154 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Western Lettings Limited

Western Lettings Limited (Registered number: SC344154)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Western Lettings Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J P Gallagher





REGISTERED OFFICE: Suite 5, Platinum House
23 Eagle Street
Craighall Business Park
Glasgow
G4 9XA





REGISTERED NUMBER: SC344154 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Western Lettings Limited (Registered number: SC344154)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 287,159 171,733

CURRENT ASSETS
Debtors 5 74,725 88,386
Cash at bank and in hand 404,949 386,580
479,674 474,966
CREDITORS
Amounts falling due within one year 6 (393,094 ) (385,382 )
NET CURRENT ASSETS 86,580 89,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,739

261,317

CREDITORS
Amounts falling due after more than one
year

7

(80,805

)

(91,797

)

PROVISIONS FOR LIABILITIES 10 (71,800 ) (42,900 )
NET ASSETS 221,134 126,620

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 221,034 126,520
SHAREHOLDERS' FUNDS 221,134 126,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Western Lettings Limited (Registered number: SC344154)

Balance Sheet - continued
30 June 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 February 2025 and were signed by:





J P Gallagher - Director


Western Lettings Limited (Registered number: SC344154)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Western Lettings 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 20% on reducing balance
Plant and machinery etc - 25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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.

Western Lettings Limited (Registered number: SC344154)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 14,299 319,074 333,373
Additions 5,304 241,275 246,579
Disposals (9,956 ) (121,965 ) (131,921 )
At 30 June 2024 9,647 438,384 448,031
DEPRECIATION
At 1 July 2023 4,442 157,198 161,640
Charge for year 1,776 67,633 69,409
Eliminated on disposal (2,792 ) (67,385 ) (70,177 )
At 30 June 2024 3,426 157,446 160,872
NET BOOK VALUE
At 30 June 2024 6,221 280,938 287,159
At 30 June 2023 9,857 161,876 171,733

Western Lettings Limited (Registered number: SC344154)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 156,515
Additions 123,027
Disposals (121,965 )
At 30 June 2024 157,577
DEPRECIATION
At 1 July 2023 72,702
Charge for year 33,810
Eliminated on disposal (67,385 )
At 30 June 2024 39,127
NET BOOK VALUE
At 30 June 2024 118,450
At 30 June 2023 83,813

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 22,929 41,875
Other debtors 51,796 46,511
74,725 88,386

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 15,750 17,616
Taxation and social security 99,365 98,547
Other creditors 267,979 259,219
393,094 385,382

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 9,167 19,167
Hire purchase contracts (see note 8) 47,166 33,878
Other creditors 24,472 38,752
80,805 91,797

Western Lettings Limited (Registered number: SC344154)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 15,750 17,616
Between one and five years 47,166 33,878
62,916 51,494

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 34,987 17,000
Between one and five years 84,436 11,250
119,423 28,250

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 62,916 51,494

Hire purchase creditors are secured over the assets concerned.

10. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 71,800 42,900

Deferred
tax
£   
Balance at 1 July 2023 42,900
Provided during year 28,900
Balance at 30 June 2024 71,800