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REGISTERED NUMBER: SC064319 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

H. & A. WASON (KAMEHILL) LIMITED

H. & A. WASON (KAMEHILL) LIMITED (REGISTERED NUMBER: SC064319)






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


H. & A. WASON (KAMEHILL) LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: H Wason
A Wason





SECRETARY: A Wason





REGISTERED OFFICE: Kamehill
East Linton
East Lothian
EH40 3DZ





REGISTERED NUMBER: SC064319 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

H. & A. WASON (KAMEHILL) LIMITED (REGISTERED NUMBER: SC064319)

BALANCE SHEET
30 June 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 197,959 221,788

CURRENT ASSETS
Debtors 5 6,941 28,951
Cash at bank 16,327 84,083
23,268 113,034
CREDITORS
Amounts falling due within one year 6 65,580 136,328
NET CURRENT LIABILITIES (42,312 ) (23,294 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,647

198,494

PROVISIONS FOR LIABILITIES 8 7,559 11,070
NET ASSETS 148,088 187,424

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 138,088 177,424
SHAREHOLDERS' FUNDS 148,088 187,424

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 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.

H. & A. WASON (KAMEHILL) LIMITED (REGISTERED NUMBER: SC064319)

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





A Wason - Director


H. & A. WASON (KAMEHILL) LIMITED (REGISTERED NUMBER: SC064319)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

H. & A. Wason (Kamehill) 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.

At 30 June 2024 the company had net current liabilities of £42,312 (2023 - £23,294) and relies on the continued support of the directors to finance its working capital requirements. The directors consider it appropriate to prepare the financial statements on the going concern basis as they expect that this support will continue for the foreseeable future.

TURNOVER
Turnover represents net invoiced sales of animal feed, excluding value added tax.

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.
Heritable property - 2% per annum on cost
Plant and machinery - 20% per annum on cost
Motor vehicles - 25% per annum on cost

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.


H. & A. WASON (KAMEHILL) LIMITED (REGISTERED NUMBER: SC064319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 3 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Heritable Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2023 202,122 214,980 93,203 510,305
Disposals (1,125 ) (57,014 ) - (58,139 )
At 30 June 2024 200,997 157,966 93,203 452,166
DEPRECIATION
At 1 July 2023 48,121 182,116 58,280 288,517
Charge for year 3,814 9,086 9,964 22,864
Eliminated on disposal (160 ) (57,014 ) - (57,174 )
At 30 June 2024 51,775 134,188 68,244 254,207
NET BOOK VALUE
At 30 June 2024 149,222 23,778 24,959 197,959
At 30 June 2023 154,001 32,864 34,923 221,788

Included in cost of land and buildings is freehold land of £ 10,312 (2023 - £ 10,312 ) which is not depreciated.

Tangible fixed assets with a carrying value £197,959 (2023 - £221,788) have been pledged to secure the borrowings of the company.

H. & A. WASON (KAMEHILL) LIMITED (REGISTERED NUMBER: SC064319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors - 12,750
Other debtors 6,941 16,201
6,941 28,951

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 3,938 55,079
Taxation and social security 3,196 6,965
Other creditors 58,446 74,284
65,580 136,328

7. SECURED DEBTS

The company granted a floating charge dated 9 September 2013 over all of its assets to the Clydesdale Bank PLC.

8. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax 7,559 11,070

Deferred
tax
£   
Balance at 1 July 2023 11,070
Credit to Statement of Income and Retained Earnings during year (3,511 )
Balance at 30 June 2024 7,559

9. RELATED PARTY DISCLOSURES

Included within 'Other creditors' are amounts totalling £55,586 (2023 - £70,178) due to the directors from the company. The loans are interest free and repayable on demand.