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REGISTERED NUMBER: SC085711 (Scotland)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

W. W. WALES LIMITED

W. W. WALES LIMITED (REGISTERED NUMBER: SC085711)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W. W. WALES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: M J B Law
J Opray
G B Opray
H Wallace





REGISTERED OFFICE: Unit 4
Glencairn Industrial Estate
Kilmarnock
Ayrshire
KA1 4AY





REGISTERED NUMBER: SC085711 (Scotland)





ACCOUNTANTS: Robert J Hart & Company
Chartered Accountants
Arran House
15D Skye Road
Prestwick
Ayrshire
KA9 2TA

W. W. WALES LIMITED (REGISTERED NUMBER: SC085711)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 462,116 454,110

CURRENT ASSETS
Stocks 102,164 139,485
Debtors 5 978,527 848,591
Cash at bank and in hand 236,977 291,987
1,317,668 1,280,063
CREDITORS
Amounts falling due within one year 6 418,190 360,557
NET CURRENT ASSETS 899,478 919,506
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,361,594

1,373,616

CREDITORS
Amounts falling due after more than one
year

7

(86,232

)

(91,501

)

PROVISIONS FOR LIABILITIES 10 (92,435 ) (96,385 )
NET ASSETS 1,182,927 1,185,730

CAPITAL AND RESERVES
Called up share capital 9,000 9,000
Other reserves 252,250 252,250
Retained earnings 921,677 924,480
1,182,927 1,185,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

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

W. W. WALES LIMITED (REGISTERED NUMBER: SC085711)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:





G B Opray - Director


W. W. WALES LIMITED (REGISTERED NUMBER: SC085711)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

W. W. Wales 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

W. W. WALES LIMITED (REGISTERED NUMBER: SC085711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

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 49 (2023 - 50 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 September 2023 162,819 1,745,953 279,385 2,188,157
Additions - 42,277 45,578 87,855
Disposals - (2,500 ) (28,784 ) (31,284 )
At 31 August 2024 162,819 1,785,730 296,179 2,244,728
DEPRECIATION
At 1 September 2023 142,832 1,463,564 127,651 1,734,047
Charge for year 2,498 32,480 38,552 73,530
Eliminated on disposal - (1,304 ) (23,661 ) (24,965 )
At 31 August 2024 145,330 1,494,740 142,542 1,782,612
NET BOOK VALUE
At 31 August 2024 17,489 290,990 153,637 462,116
At 31 August 2023 19,987 282,389 151,734 454,110

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 199,945
Additions 45,578
Transfer to ownership (36,339 )
At 31 August 2024 209,184
DEPRECIATION
At 1 September 2023 63,822
Charge for year 32,701
Transfer to ownership (22,920 )
At 31 August 2024 73,603
NET BOOK VALUE
At 31 August 2024 135,581
At 31 August 2023 136,123

W. W. WALES LIMITED (REGISTERED NUMBER: SC085711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 351,564 349,328
Amounts owed by group undertakings 577,595 461,095
Other debtors 49,368 38,168
978,527 848,591

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 8) 48,366 42,538
Trade creditors 143,747 182,739
Taxation and social security 172,248 97,161
Other creditors 53,829 38,119
418,190 360,557

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 8) 86,232 91,501

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 48,366 42,538
Between one and five years 86,232 91,501
134,598 134,039

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 63,475 63,475
Between one and five years 253,900 253,900
In more than five years 300,467 363,942
617,842 681,317

W. W. WALES LIMITED (REGISTERED NUMBER: SC085711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Hire purchase contracts 134,598 134,039

Hire purchase creditors are secured against the assets they relate to.

10. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 92,435 96,385

Deferred
tax
£   
Balance at 1 September 2023 96,385
Credit to Income Statement during year (3,950 )
Balance at 31 August 2024 92,435

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
J Opray
Balance outstanding at start of year 1,000 -
Amounts advanced - 1,000
Amounts repaid (1,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,000

12. RELATED PARTY DISCLOSURES

At the balance sheet date the amount due from the parent company was £577,595 (2023- £461,095).
The loan is interest free and repayable on demand.