William Cleland & Son Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC068782 (Scotland)

Unaudited Financial Statements

for the Year Ended

31 August 2024

for

WILLIAM CLELAND & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss A Wright

REGISTERED OFFICE:

90/3 Princes Street

Edinburgh

EH2 2ER

REGISTERED NUMBER:

SC068782 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

FIXED ASSETS

Tangible assets

4

278,722

Investments

5

455,562

Investment property

6

262,000

996,284

CURRENT ASSETS

Debtors

7

414,666

Cash at bank and in hand

24,107

438,773

CREDITORS

Amounts falling due within one year

8

(199,559

)

(199,559

)

NET CURRENT ASSETS

239,214

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,235,498

CAPITAL AND RESERVES

Called up share capital

5,004

Fair value reserve

9

513,754

Retained earnings

716,740

SHAREHOLDERS' FUNDS

1,235,498

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 director acknowledges her 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 director and authorised for issue on 26 May 2025 and were signed by:

Miss A Wright - Director

1.	STATUTORY INFORMATION

William Cleland & Son 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Straight line over 50 years

Fixtures and fittings

-

10% on reducing balance

Certain fixed assets are stated at revalued amounts.

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.

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.

Consolidation

The company has taken advantage of the exemptions in the Companies Act 1985 section 248 as it qualifies as a small group, and has not prepared group accounts. Details of the Company's investments are included in Note number 5.

Associated companies

Associated companies are included as investments at cost and dividends receivable are included in the profit and loss account. As the company does not prepare group accounts additional information relating to the associates is given in note number 5.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Land and

and

Computer

buildings

fittings

equipment

Totals

£

COST OR VALUATION

At 1 September 2023

and 31 August 2024

400,000

2,136

4,872

407,008

DEPRECIATION

At 1 September 2023

and 31 August 2024

121,360

2,054

4,872

128,286

NET BOOK VALUE

At 31 August 2024

278,640

82

-

278,722

At 31 August 2023

278,640

82

-

278,722

Cost or valuation at 31 August 2024 is represented by:

Land and

buildings

£

Valuation in 2009

100,000

Valuation in 2002

146,160

246,160

**	TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF

LAND AND BUILDINGS

'COST' ACCOUNT TOTAL

Cost/valuation b/f

400,000

CLIENT SCREEN TOTAL

=

-

**	TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF

FIXTURES AND FITTINGS

'COST' ACCOUNT TOTAL

Cost/valuation b/f

2,136

CLIENT SCREEN TOTAL

=

-

**	TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF

COMPUTER EQUIPMENT

'COST' ACCOUNT TOTAL

Cost/valuation b/f

4,872

CLIENT SCREEN TOTAL

=

-

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

153,840

Aggregate depreciation

31,290

Freehold land and buildings were valued on an open market basis on 31 August 2022 by the directors. .

5.	FIXED ASSET INVESTMENTS

2024

2023

£

Other investments not loans

11,717

Other loans

443,845

455,562

Additional information is as follows:

Other

investments

£

COST

At 1 September 2023

and 31 August 2024

11,717

NET BOOK VALUE

At 31 August 2024

11,717

At 31 August 2023

11,717

Other

loans

£

At 1 September 2023

and 31 August 2024

443,845

Rutland Land Limited has investments of £25 in each of Cramond Homes Limited and Cramond Securities Limited which represents 50% of the issued share capital of Cramond Securities Limited, and 74% of the issued share capital of Cramond Homes Limited.

Other loans comprises sums due to the company by Rutland Land Limited.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2023

and 31 August 2024

262,000

NET BOOK VALUE

At 31 August 2024

262,000

At 31 August 2023

262,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Due from associated companies

414,666

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Tax

1

Social security and other taxes

6,252

Directors' current accounts

190,306

Accrued expenses

3,000

199,559

9.

RESERVES

Fair

value

reserve

£

At 1 September 2023

and 31 August 2024

513,754

10.	RELATED PARTY DISCLOSURES

As at 31 August 20122 the company was due £982,028 from Rutland Land Limited (2021 - £964,428) and £123,917 to Cramond Homes Limited (2021 - £123,917).

At 31 August 2023 A.Wright was due £190,306 (2022- £190,306) from the company. This was the maximum amount due during the year.

11.	ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling parties by virtue of their shareholding in the company.