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REGISTERED NUMBER: SC570329 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Two Walters Limited

Two Walters Limited (Registered number: SC570329)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Balance Sheet 1

Notes to the Financial Statements 2


Two Walters Limited (Registered number: SC570329)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £   
FIXED ASSETS
Investment property 4 610,380 492,820

CURRENT ASSETS
Cash at bank 7,401 10,826

CREDITORS
Amounts falling due within one year 5 (324,400 ) (233,995 )
NET CURRENT LIABILITIES (316,999 ) (223,169 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

293,381

269,651

PROVISIONS FOR LIABILITIES (40,705 ) (40,705 )
NET ASSETS 252,676 228,946

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 252,672 228,942
SHAREHOLDERS' FUNDS 252,676 228,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Mr L W D Falconer - Director


Two Walters Limited (Registered number: SC570329)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Two Walters Limited is a private company, limited by shares, domiciled in Scotland, registration number SC570329. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, FK3 8WX.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services in respect of property development, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

Two Walters Limited (Registered number: SC570329)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 492,820
Additions 117,560
At 31 March 2025 610,380
NET BOOK VALUE
At 31 March 2025 610,380
At 31 March 2024 492,820

Fair value at 31 March 2025 is represented by:
£   
Valuation in 2019 137,821
Valuation in 2023 25,000
Cost 447,559
610,380

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Amounts owed to related parties 311,500 222,500
Taxation and social security 7,393 6,078
Other creditors 5,507 5,417
324,400 233,995

6. RELATED PARTY DISCLOSURES

Companies under common control

At the year end the company owed £311,500 (2024 - £222,500) to companies with shared directors and shareholders. Loan interest of £13,250 (2024 - £9,000) was paid in relation to this debt.