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REGISTERED NUMBER: SC526789 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

DEREK WILSON AUDIO LIMITED

DEREK WILSON AUDIO LIMITED (REGISTERED NUMBER: SC526789)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DEREK WILSON AUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Derek Orr Wilson



SECRETARY: Alexandra Wilson



REGISTERED OFFICE: 54 Ayr Road
Prestwick
Ayrshire
KA9 1RR



REGISTERED NUMBER: SC526789 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
3rd Floor, St George's Buildings
5 St Vincent Place
Glasgow
G1 2DH



BANKERS: Virgin Money
326 Byres Road
Hillhead
Glasgow
G12 8AN

DEREK WILSON AUDIO LIMITED (REGISTERED NUMBER: SC526789)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 7,980 9,388

CURRENT ASSETS
Cash at bank 239,532 267,293

CREDITORS
Amounts falling due within one year 5 31,697 59,424
NET CURRENT ASSETS 207,835 207,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,815

217,257

PROVISIONS FOR LIABILITIES 1,516 1,784
NET ASSETS 214,299 215,473

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 214,199 215,373
SHAREHOLDERS' FUNDS 214,299 215,473

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 27 May 2025 and were signed by:





Derek Orr Wilson - Director


DEREK WILSON AUDIO LIMITED (REGISTERED NUMBER: SC526789)

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

1. STATUTORY INFORMATION

Derek Wilson Audio 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.
Fixtures & equipment - 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

DEREK WILSON AUDIO LIMITED (REGISTERED NUMBER: SC526789)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 19,764
DEPRECIATION
At 1 June 2023 10,376
Charge for year 1,408
At 31 May 2024 11,784
NET BOOK VALUE
At 31 May 2024 7,980
At 31 May 2023 9,388

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 20,964
Other creditors 31,697 38,460
31,697 59,424

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 Ordinary £1 90 90
5 Ordinary 'A' £1 5 5
5 Ordinary 'B' £1 5 5
100 100