Registered number
SC046010
W. Enterprises (ABDN) Limited
Filleted Accounts
31 January 2025
W. Enterprises (ABDN) Limited
Registered number: SC046010
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 70,184 76,981
Investments 4 9,789 10,110
79,973 87,091
Current assets
Stocks 151,941 190,558
Debtors 5 20,719 21,675
Cash at bank and in hand 88,392 33,728
261,052 245,961
Creditors: amounts falling due within one year 6 (92,271) (98,181)
Net current assets 168,781 147,780
Net assets 248,754 234,871
Capital and reserves
Called up share capital 90 90
Revaluation reserve 7 6,700 6,700
Profit and loss account 241,964 228,081
Shareholders' funds 248,754 234,871
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs B K Gibb
Director
Approved by the board on 16 April 2025
W. Enterprises (ABDN) Limited
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Buildings 2% straight line
Plant and machinery 15% - 20% reducing balance
Motor Vehicles 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 8 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2024 173,793 92,366 30,036 296,195
Disposals - (11,500) - (11,500)
At 31 January 2025 173,793 80,866 30,036 284,695
Depreciation
At 1 February 2024 112,116 78,181 28,917 219,214
Charge for the year 2,228 2,137 168 4,533
On disposals - (9,236) - (9,236)
At 31 January 2025 114,344 71,082 29,085 214,511
Net book value
At 31 January 2025 59,449 9,784 951 70,184
At 31 January 2024 61,677 14,185 1,119 76,981
4 Investments
Other
investments
£
Cost
At 1 February 2024 10,110
Revaluation (321)
At 31 January 2025 9,789
Historical cost
At 1 February 2024 10,110
At 31 January 2025 9,789
The fair values of the listed investments are based on quoted market prices for equity shares.
5 Debtors 2025 2024
£ £
Trade debtors 15,126 16,077
Other debtors 5,593 5,598
20,719 21,675
The fair values of the listed investments are based on quoted market prices for equity shares.
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 9,112 4,228
Taxation and social security costs 11,745 9,655
Other creditors 71,414 84,298
92,271 98,181
7 Revaluation reserve 2025 2024
£ £
At 1 February 2024 6,700 6,700
At 31 January 2025 6,700 6,700
8 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs B K Gibb 24,137 - (2,500) 21,637
Mrs M G Ritch 48,341 1,200 (5,000) 44,541
72,478 1,200 (7,500) 66,178
9 Related party transactions
During the year the company received a repayment of £2,311 (2024 - £2311) from a former director. This balance is now nil at the 31st January 2025.
10 Other information
W. Enterprises (ABDN) Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Kingsford Industrial Units
Kingswells
Aberdeen
AB15 8QR
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