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REGISTERED NUMBER: SC505310 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

W. T. Paterson Joiners & Builders Ltd

W. T. Paterson Joiners & Builders Ltd (Registered number: SC505310)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


W. T. Paterson Joiners & Builders Ltd (Registered number: SC505310)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 377,098 279,573

CURRENT ASSETS
Stocks 21,000 1,000
Debtors 5 25,650 27,033
Cash at bank 764,033 797,396
810,683 825,429
CREDITORS
Amounts falling due within one year 6 (246,945 ) (205,918 )
NET CURRENT ASSETS 563,738 619,511
TOTAL ASSETS LESS CURRENT
LIABILITIES

940,836

899,084

CREDITORS
Amounts falling due after more than one
year

7

(6,942

)

(21,468

)

PROVISIONS FOR LIABILITIES (57,877 ) (55,754 )
NET ASSETS 876,017 821,862

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 876,015 821,860
876,017 821,862

W. T. Paterson Joiners & Builders Ltd (Registered number: SC505310)

Balance Sheet - continued
31 May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 18 February 2025 and were signed on its behalf by:





Mr W T Paterson - Director


W. T. Paterson Joiners & Builders Ltd (Registered number: SC505310)

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

1. STATUTORY INFORMATION

W. T. Paterson Joiners & Builders Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC505310. The registered office is Woodend, Auchenbowie, Stirling, Stirlingshire, Scotland, FK7 8HE.

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 services in respect of construction installation and facilities management., excluding value added tax. Sales are recognised at the point at which 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 25% on reducing balance

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.

W. T. Paterson Joiners & Builders Ltd (Registered number: SC505310)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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.

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 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 493,006
Additions 187,000
At 31 May 2024 680,006
DEPRECIATION
At 1 June 2023 213,433
Charge for year 89,475
At 31 May 2024 302,908
NET BOOK VALUE
At 31 May 2024 377,098
At 31 May 2023 279,573

W. T. Paterson Joiners & Builders Ltd (Registered number: SC505310)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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 June 2023 125,898
Transfer to ownership (55,945 )
At 31 May 2024 69,953
DEPRECIATION
At 1 June 2023 66,473
Charge for year 3,310
Transfer to ownership (44,557 )
At 31 May 2024 25,226
NET BOOK VALUE
At 31 May 2024 44,727
At 31 May 2023 59,425

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 25,650 27,033

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 14,526 19,886
Trade creditors 35,430 61,772
Taxation and social security 188,137 118,518
Other creditors 8,852 5,742
246,945 205,918

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 6,942 21,468