| W. & D. ALLAN LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
| W. & D. ALLAN LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
| W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 9 |
| W. & D. ALLAN LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Riverside House |
| Ladhope Vale |
| Galashiels |
| Selkirkshire |
| TD1 1BT |
| W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711) |
| BALANCE SHEET |
| 29TH FEBRUARY 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Herd basis | 5 | 1,200 | 14,165 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711) |
| BALANCE SHEET - continued |
| 29TH FEBRUARY 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
| 1. | STATUTORY INFORMATION |
| W. & D. Allan Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Improvements to property | - |
| Plant and machinery | - |
| Tractors | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Financial assets |
| Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price. |
| At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income and Expenditure Account. |
| Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled. |
| Financial liabilities |
| Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities is payment is due within one year or less. If not they are presented as non-current liabilities. |
| Financial liabilities are decolonised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29TH FEBRUARY 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. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and |
| property | machinery | Tractors |
| £ | £ | £ |
| COST |
| At 1st March 2023 |
| Additions |
| At 29th February 2024 |
| DEPRECIATION |
| At 1st March 2023 |
| Charge for year |
| At 29th February 2024 |
| NET BOOK VALUE |
| At 29th February 2024 |
| At 28th February 2023 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1st March 2023 |
| Additions |
| At 29th February 2024 |
| DEPRECIATION |
| At 1st March 2023 |
| Charge for year |
| At 29th February 2024 |
| NET BOOK VALUE |
| At 29th February 2024 |
| At 28th February 2023 |
| W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| Tractors | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st March 2023 |
| and 29th February 2024 |
| DEPRECIATION |
| At 1st March 2023 |
| Charge for year |
| At 29th February 2024 |
| NET BOOK VALUE |
| At 29th February 2024 |
| At 28th February 2023 |
| 5. | HERD BASIS |
| Herd |
| basis |
| £ |
| COST |
| At 1st March 2023 | 14,165 |
| Disposals | (12,965 | ) |
| At 29th February 2024 | 1,200 |
| NET BOOK VALUE |
| At 29th February 2024 | 1,200 |
| At 28th February 2023 | 14,165 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| W. & D. ALLAN LIMITED (REGISTERED NUMBER: SC041711) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the year end the company was due £52,067 to Mrs W M Ballantyne (Director) (2023 £52,067), and £22,386 to Mr L R Ballantyne (Director) (2023 £7,791). |
| 10. | GOING CONCERN |
| The Directors have sufficient funds to continue to support the company for the foreseeable future and will not call on their loan account. As a result, the Directors believe that the company will continue as a going concern and the accounts have been prepared on this basis. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by Mr L R Ballantyne by virtue of his shareholding. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| W. & D. ALLAN LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W. & D. Allan Limited for the year ended 29th February 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
| This report is made solely to the Board of Directors of W. & D. Allan Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W. & D. Allan Limited and state those matters that we have agreed to state to the Board of Directors of W. & D. Allan Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that W. & D. Allan Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of W. & D. Allan Limited. You consider that W. & D. Allan Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of W. & D. Allan Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Riverside House |
| Ladhope Vale |
| Galashiels |
| Selkirkshire |
| TD1 1BT |