Silverfin false false 30/09/2024 01/10/2023 30/09/2024 David Wilmer 21/07/2014 James Wilmer 21/07/2014 27 May 2025 The principal activity of the Company during the financial year was that of a holding company. SC482612 2024-09-30 SC482612 bus:Director1 2024-09-30 SC482612 bus:Director2 2024-09-30 SC482612 2023-09-30 SC482612 core:CurrentFinancialInstruments 2024-09-30 SC482612 core:CurrentFinancialInstruments 2023-09-30 SC482612 core:ShareCapital 2024-09-30 SC482612 core:ShareCapital 2023-09-30 SC482612 core:SharePremium 2024-09-30 SC482612 core:SharePremium 2023-09-30 SC482612 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC482612 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC482612 core:LandBuildings 2023-09-30 SC482612 core:OtherPropertyPlantEquipment 2023-09-30 SC482612 core:LandBuildings 2024-09-30 SC482612 core:OtherPropertyPlantEquipment 2024-09-30 SC482612 core:CostValuation 2023-09-30 SC482612 core:CostValuation 2024-09-30 SC482612 2023-10-01 2024-09-30 SC482612 bus:FilletedAccounts 2023-10-01 2024-09-30 SC482612 bus:SmallEntities 2023-10-01 2024-09-30 SC482612 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC482612 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC482612 bus:Director1 2023-10-01 2024-09-30 SC482612 bus:Director2 2023-10-01 2024-09-30 SC482612 core:LandBuildings core:TopRangeValue 2023-10-01 2024-09-30 SC482612 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 SC482612 2022-10-01 2023-09-30 SC482612 core:LandBuildings 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: SC482612 (Scotland)

JIM WILMER & SONS (HOLDINGS) LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

JIM WILMER & SONS (HOLDINGS) LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

JIM WILMER & SONS (HOLDINGS) LTD

COMPANY INFORMATION

For the financial year ended 30 September 2024
JIM WILMER & SONS (HOLDINGS) LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS David Wilmer
James Wilmer
REGISTERED OFFICE Roselle Workshop
4 Dalquharran
Dailly
KA26 9QJ
United Kingdom
COMPANY NUMBER SC482612 (Scotland)
ACCOUNTANT Dains
Ellersley House
30 Miller Road
Ayr
KA7 2AY
BANKERS Royal Bank of Scotland
14 Dalrymple Street
Girvan
KA26 9AF
SOLICITORS The McKinstry Company
Queens Court House
39 Sandgate
Ayr
KA7 1BE
JIM WILMER & SONS (HOLDINGS) LTD

BALANCE SHEET

As at 30 September 2024
JIM WILMER & SONS (HOLDINGS) LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 1,689,574 181,137
Investments 5 10,000 10,000
1,699,574 191,137
Current assets
Debtors 6 26 307,421
Cash at bank and in hand 646,769 363,924
646,795 671,345
Creditors: amounts falling due within one year 7 ( 1,684,105) ( 4,167)
Net current (liabilities)/assets (1,037,310) 667,178
Total assets less current liabilities 662,264 858,315
Net assets 662,264 858,315
Capital and reserves
Called-up share capital 200 200
Share premium account 9,900 9,900
Profit and loss account 652,164 848,215
Total shareholders' funds 662,264 858,315

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Jim Wilmer & Sons (Holdings) Ltd (registered number: SC482612) were approved and authorised for issue by the Board of Directors on 27 May 2025. They were signed on its behalf by:

James Wilmer
Director
David Wilmer
Director
JIM WILMER & SONS (HOLDINGS) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
JIM WILMER & SONS (HOLDINGS) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jim Wilmer & Sons (Holdings) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Roselle Workshop, 4 Dalquharran, Dailly, KA26 9QJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery etc. 20 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 October 2023 0 1,561,470 1,561,470
Additions 372,162 1,425,607 1,797,769
Disposals 0 ( 324,990) ( 324,990)
At 30 September 2024 372,162 2,662,087 3,034,249
Accumulated depreciation
At 01 October 2023 0 1,380,333 1,380,333
Charge for the financial year 7,443 139,902 147,345
Disposals 0 ( 183,003) ( 183,003)
At 30 September 2024 7,443 1,337,232 1,344,675
Net book value
At 30 September 2024 364,719 1,324,855 1,689,574
At 30 September 2023 0 181,137 181,137

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 October 2023 10,000
At 30 September 2024 10,000
Carrying value at 30 September 2024 10,000
Carrying value at 30 September 2023 10,000

6. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 0 307,395
Corporation tax 16 16
Other debtors 10 10
26 307,421

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 1,680,106 0
Other creditors 3,999 4,167
1,684,105 4,167

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Owed (to)/by Jim Wilmer & Sons Timber Harvesting Ltd (1,680,106) 307,935

Amounts due from group undertakings are repayable on demand and carry no interest.

The company acquired £1.8m of plant and machinery from its subsidiary company Jim Wilmer & Sons Timber Harvesting Ltd. Assets were transferred at their net book value and are now leased back to Jim Wilmer & Sons Timber Harvesting Ltd.