IRIS Accounts Production v24.3.2.46 SC431107 Board of Directors 1.1.23 31.12.23 31.12.23 12.3.25 0 0 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4311072022-12-31SC4311072023-12-31SC4311072023-01-012023-12-31SC4311072021-12-31SC4311072022-01-012022-12-31SC4311072022-12-31SC431107ns15:Scotland2023-01-012023-12-31SC431107ns14:PoundSterling2023-01-012023-12-31SC431107ns10:Director12023-01-012023-12-31SC431107ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC431107ns10:SmallEntities2023-01-012023-12-31SC431107ns10:Audited2023-01-012023-12-31SC431107ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC431107ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC431107ns10:FullAccounts2023-01-012023-12-31SC431107ns10:Director22023-01-012023-12-31SC431107ns10:Director32023-01-012023-12-31SC431107ns10:RegisteredOffice2023-01-012023-12-31SC431107ns5:CurrentFinancialInstruments2023-12-31SC431107ns5:CurrentFinancialInstruments2022-12-31SC431107ns5:Non-currentFinancialInstruments2023-12-31SC431107ns5:Non-currentFinancialInstruments2022-12-31SC431107ns5:ShareCapital2023-12-31SC431107ns5:ShareCapital2022-12-31SC431107ns5:RetainedEarningsAccumulatedLosses2023-12-31SC431107ns5:RetainedEarningsAccumulatedLosses2022-12-31SC431107ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC431107ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: SC431107 (Scotland)
















Financial Statements for the Year Ended 31 December 2023

for

AR (Wallyford) Ltd

AR (Wallyford) Ltd (Registered number: SC431107)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AR (Wallyford) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Coster
D Gaffney
R Boyd





REGISTERED OFFICE: C/O Brodies LLP
110 Queen Street
Glasgow
G1 3BX





REGISTERED NUMBER: SC431107 (Scotland)





AUDITORS: McLay McAlister & McGibbon LLP
Chartered Accountants and Statutory Auditors
145 St Vincent Street
Glasgow
G2 5JF

AR (Wallyford) Ltd (Registered number: SC431107)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Stocks 14,296,986 12,542,091
Debtors 4 4,972,383 20,486
Cash at bank 162,857 25,202
19,432,226 12,587,779
CREDITORS
Amounts falling due within one year 5 (183,426 ) (935,175 )
NET CURRENT ASSETS 19,248,800 11,652,604
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,248,800

11,652,604

CREDITORS
Amounts falling due after more than one
year

6

(18,632,604

)

(11,816,447

)
NET ASSETS/(LIABILITIES) 616,196 (163,843 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 616,195 (163,844 )
SHAREHOLDERS' FUNDS 616,196 (163,843 )

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 Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





D Gaffney - Director


AR (Wallyford) Ltd (Registered number: SC431107)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

AR (Wallyford) 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.

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.

Going concern
The directors prepare projections for the life of the development and therefore consider a period of at least 12 months from the date of approval of these financial statements. Projections are updated regularly to take into consideration any changes. The main contractor for the development is a related party who ensures that contractors comply with the current government guidance.

The company has agreed funding arrangements in place for the life of the project. These are not due for repayment until September 2025 and February 2026.

Based on the above, the directors consider it appropriate to prepare the financial statements on a going concern basis.

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.

AR (Wallyford) Ltd (Registered number: SC431107)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 280,628 -
Amounts owed by group undertakings 4,371,653 -
Other debtors 320,102 20,486
4,972,383 20,486

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 6,960 725,258
Amounts owed to group undertakings 25,630 1,800
Other creditors 150,836 208,117
183,426 935,175

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 12,345,754 11,816,447
Other creditors 6,286,850 -
18,632,604 11,816,447

7. SECURED DEBTS

Included within amounts owed to group undertakings is an amount of £11,816,447 which is secured over the land at Victory Lane, Wallyford, highlighted in the charge.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Martin (Senior Statutory Auditor)
for and on behalf of McLay McAlister & McGibbon LLP

9. RELATED PARTY DISCLOSURES

Included within debtors is an amount owed by Ambassador Developments(Bangour) Limited of £4,371,653 (2022-£0).

Included within creditors is an amount owed to Ambassador Aspen Group Limited of £23,830(2022-£0).

Included within creditors is an amount of £1,800 owed to Ambassador Residential Limited of £1,800(2022-£1,800).

AR (Wallyford) Ltd (Registered number: SC431107)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. ULTIMATE CONTROLLING PARTY

The entire share capital of the company is beneficially owned by Ambassador Aspen Group Limited, which is incorporated in England.

The ultimate parent undertaking is RS Fund IV LP, a fund incorporated in Jersey. There is no ultimate controlling party as no individual holds more than 10% of the fund.

A copy of the consolidated financial statements can be obtained from the registered office:

11-15 Seaton Place
St Helier
Jersey
JE4 0QH