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G & J WADDELL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024






G & J WADDELL LIMITED (REGISTERED NUMBER: SC255887)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

G & J WADDELL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: K W Waddell
Mrs V Waddell
G Waddell





SECRETARY: Mrs V Waddell





REGISTERED OFFICE: East Bank
East High Street
Greenlaw
Berwickshire
TD10 6UF





REGISTERED NUMBER: SC255887 (Scotland)





ACCOUNTANTS: JRW Hogg & Thorburn
Chartered Accountants
Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT

G & J WADDELL LIMITED (REGISTERED NUMBER: SC255887)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 323,928 151,361
323,928 151,361

CURRENT ASSETS
Stocks 6 598,628 647,450
Debtors 7 213,169 103,186
Cash at bank 546,895 557,894
1,358,692 1,308,530
CREDITORS
Amounts falling due within one year 8 291,303 146,534
NET CURRENT ASSETS 1,067,389 1,161,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,391,317

1,313,357

PROVISIONS FOR LIABILITIES 22,249 10,725
NET ASSETS 1,369,068 1,302,632

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,368,968 1,302,532
SHAREHOLDERS' FUNDS 1,369,068 1,302,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

G & J WADDELL LIMITED (REGISTERED NUMBER: SC255887)

BALANCE SHEET - continued
30TH SEPTEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th May 2025 and were signed on its behalf by:




K W Waddell - Director



Mrs V Waddell - Director


G & J WADDELL LIMITED (REGISTERED NUMBER: SC255887)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

G & J Waddell 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.

The directors have considered the potential impact of ongoing worldwide events on the business and are satisfied that the Company has sufficient cash reserves to meet all financial obligations for the foreseeable future. The Accounts have therefore been prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenant's Improvements - 12.5% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% 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.

G & J WADDELL LIMITED (REGISTERED NUMBER: SC255887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial assets
Basic financial assets, including trade trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income Statement.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities as payment is due within one year of less. If not they are presented as non-current liabilities.
Financial liabilities are decolonised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

G & J WADDELL LIMITED (REGISTERED NUMBER: SC255887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2023
and 30th September 2024 120,000
AMORTISATION
At 1st October 2023
and 30th September 2024 120,000
NET BOOK VALUE
At 30th September 2024 -
At 30th September 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Tenant's Plant and
property Improvements machinery
£    £    £   
COST
At 1st October 2023 - 25,265 19,576
Additions 166,224 - -
Disposals - - -
At 30th September 2024 166,224 25,265 19,576
DEPRECIATION
At 1st October 2023 - 14,701 17,625
Charge for year - 528 293
Eliminated on disposal - - -
At 30th September 2024 - 15,229 17,918
NET BOOK VALUE
At 30th September 2024 166,224 10,036 1,658
At 30th September 2023 - 10,564 1,951

G & J WADDELL LIMITED (REGISTERED NUMBER: SC255887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st October 2023 296,570 6,136 347,547
Additions 55,500 - 221,724
Disposals (16,500 ) - (16,500 )
At 30th September 2024 335,570 6,136 552,771
DEPRECIATION
At 1st October 2023 160,078 3,782 196,186
Charge for year 47,054 353 48,228
Eliminated on disposal (15,571 ) - (15,571 )
At 30th September 2024 191,561 4,135 228,843
NET BOOK VALUE
At 30th September 2024 144,009 2,001 323,928
At 30th September 2023 136,492 2,354 151,361

6. STOCKS
2024 2023
£    £   
Raw materials 82,322 131,144
Building land 516,306 516,306
598,628 647,450

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 196,635 89,533
Other debtors 16,534 13,653
213,169 103,186

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 113,010 79,599
Taxation and social security 148,232 57,419
Other creditors 30,061 9,516
291,303 146,534

G & J WADDELL LIMITED (REGISTERED NUMBER: SC255887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end directors K Waddell is owed by the company £1263 (owed by the Company 2023: £317), V Waddell owed by the company £799 (2023: £317 ) and G Waddell owed by the company £452 (2023: £317).

10. RELATED PARTY DISCLOSURES

K Waddell and Mrs V Waddell, both directors of the company, were paid a total of £17,400 (2023 - £16,200) for rent for the use of workshop and office space. There was no outstanding balance at the end of the year.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr K Waddell, director, by virtue of his shareholding.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
G & J WADDELL LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G & J Waddell Limited for the year ended 30th September 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of G & J Waddell Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G & J Waddell Limited and state those matters that we have agreed to state to the Board of Directors of G & J Waddell Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G & J Waddell Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G & J Waddell Limited. You consider that G & J Waddell Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G & J Waddell Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JRW Hogg & Thorburn
Chartered Accountants
Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT


16th May 2025