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REGISTERED NUMBER: SC086764















WILCON ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024






WILCON ENTERPRISES LIMITED (REGISTERED NUMBER: SC086764)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


WILCON ENTERPRISES LIMITED (REGISTERED NUMBER: SC086764)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 179,286 190,497
Investment property 5 1,015,000 1,015,000
1,194,286 1,205,497

CURRENT ASSETS
Debtors 6 27,498 23,222
Cash at bank 589,677 566,230
617,175 589,452
CREDITORS
Amounts falling due within one year 7 179,767 185,408
NET CURRENT ASSETS 437,408 404,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,631,694

1,609,541

PROVISIONS FOR LIABILITIES 40,849 39,348
NET ASSETS 1,590,845 1,570,193

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Revaluation reserve 2,320 2,320
Non-distributable reserve 438,288 438,288
Retained earnings 1,100,237 1,079,585
SHAREHOLDERS' FUNDS 1,590,845 1,570,193

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

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

WILCON ENTERPRISES LIMITED (REGISTERED NUMBER: SC086764)

BALANCE SHEET - continued
31 OCTOBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





J Keenan - Director


WILCON ENTERPRISES LIMITED (REGISTERED NUMBER: SC086764)

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

1. STATUTORY INFORMATION

Wilcon Enterprises Limited is a private company, limited by shares, incorporated in Scotland. The registered office is Miller Lane, Clydebank, G81 1UJ.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The directors consider there are no such significant judgements.

Turnover
Turnover represents the value of business services rendered and rent receivable, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer and to recognise rental income on a straight line basis in accordance with the terms of the lease agreements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - Straight line over 50 years
Plant and machinery etc - 33.3% on cost, 25% on reducing balance and 15% on cost

Tangible fixed assets are included at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. In particular, land and buildings, consisting of heritable property, is stated at deemed cost being the valuation at the date of transition to FRS 102 less accumulated depreciation and accumulated impairment losses.

An amount equal to the excess of the annual depreciation charge on revalued heritable property over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve. Land included within heritable property has not been depreciated. If the estimated residual value at the balance sheet date is considered to be equivalent to the cost, no depreciation will be charged.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

WILCON ENTERPRISES LIMITED (REGISTERED NUMBER: SC086764)

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

2. ACCOUNTING POLICIES - continued

Investment property
Investment properties are accounted for as follows:

(i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non- distributable reserve in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.


Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

WILCON ENTERPRISES LIMITED (REGISTERED NUMBER: SC086764)

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

2. ACCOUNTING POLICIES - continued

Operating lease commitments
Rents payable under operating leases are recognised on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 November 2023 200,000 111,479 311,479
Disposals - (20,850 ) (20,850 )
At 31 October 2024 200,000 90,629 290,629
DEPRECIATION
At 1 November 2023 31,272 89,710 120,982
Charge for year - 4,639 4,639
Eliminated on disposal - (14,278 ) (14,278 )
At 31 October 2024 31,272 80,071 111,343
NET BOOK VALUE
At 31 October 2024 168,728 10,558 179,286
At 31 October 2023 168,728 21,769 190,497

The directors have considered the residual value of the property and are of the opinion it is not less than its carrying value, therefore, no depreciation has been applied.


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 1,015,000
NET BOOK VALUE
At 31 October 2024 1,015,000
At 31 October 2023 1,015,000

WILCON ENTERPRISES LIMITED (REGISTERED NUMBER: SC086764)

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

5. INVESTMENT PROPERTY - continued

The fair value of the investment property at 31 October 2024 has been arrived at on the basis of a valuation carried out by Lapsley McManus, who are professionally qualified valuers. The valuation was carried out on 28 February 2024 on the basis of market value at the date of the report. It is the opinion of the directors that the valuation of investment property at the date of the report is representative of the value at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,847 14,984
Other debtors 8,651 8,238
27,498 23,222

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 26,541 28,556
Other creditors 153,226 156,852
179,767 185,408

8. LEASING AGREEMENTS

The company has future operating lease commitments of £165,309 (2023: £167,188).

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors £129 (2023: £3,129). The amount due is interest free, unsecured and has no fixed terms of repayment.