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REGISTERED NUMBER: SC514361 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

K Wilson Properties Limited

K Wilson Properties Limited (Registered number: SC514361)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


K Wilson Properties Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Ms K E Wilson





REGISTERED OFFICE: 32 Newmills Crescent
Balerno
Midlothian
EH14 5SX





REGISTERED NUMBER: SC514361 (Scotland)





ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW

K Wilson Properties Limited (Registered number: SC514361)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 463,885 463,910

CURRENT ASSETS
Cash at bank 6,378 7,668

CREDITORS
Amounts falling due within one year 5 5,070 5,012
NET CURRENT ASSETS 1,308 2,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

465,193

466,566

CREDITORS
Amounts falling due after more than one
year

6

460,879

465,129
NET ASSETS 4,314 1,437

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,214 1,337
4,314 1,437

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 17 March 2025 and were signed by:





Ms K E Wilson - Director


K Wilson Properties Limited (Registered number: SC514361)

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

1. STATUTORY INFORMATION

K Wilson Properties 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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account represents rents receivable during the period.

Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery - 25% reducing balance

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.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

K Wilson Properties Limited (Registered number: SC514361)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 463,810 1,123 464,933
DEPRECIATION
At 1 October 2023 - 1,023 1,023
Charge for year - 25 25
At 30 September 2024 - 1,048 1,048
NET BOOK VALUE
At 30 September 2024 463,810 75 463,885
At 30 September 2023 463,810 100 463,910

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Corporation tax 680 622
Other creditors 3,250 3,250
Accruals and deferred income 1,140 1,140
5,070 5,012

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans - 2-5 years 328,793 328,793
Directors' loan accounts 132,086 136,336
460,879 465,129

The director's loan account at 30 September 2023 was £132,086 (30 September 2023 - £136,336). This loan is interest free and there are no specific terms for repayment.

7. RELATED PARTY DISCLOSURES

The company was under the control of Mrs K Wilson throughout the current year. Mrs Wilson is the managing director and majority shareholder.

No transactions with related parties were undertaken such as are required to be disclosed.