L WILLIAMSON LIMITED


Directors	HOUGH, Andrew
	HOUGH, Vaila
	WILLIAMSON, Laurence Andrew


Company Secretary	HOUGH, Vaila


Registered Address	Blydoit Industrial Estate
	Scalloway
	Shetland
	ZE1 0UG


Registered Number	SC274059 (Scotland)

Balance Sheet as at
30 September 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		786,980		688,899
Investments	4		199,000		199,000
			985,980		887,899
Current assets
Stocks	5	4,000		4,000
Debtors		1,616,215		1,346,371
Cash at bank and on hand		1,632,000		1,324,058
		3,252,215		2,674,429
Creditors amounts falling due within one year	6	(871,024)		(839,608)
Net current assets (liabilities)			2,381,191		1,834,821
Total assets less current liabilities			3,367,171		2,722,720
Provisions for liabilities	7		(26,177)		(1,748)
Net assets			3,340,994		2,720,972
Capital and reserves
Called up share capital			6		6
Revaluation reserve			34,678		23,978
Profit and loss account			3,306,310		2,696,988
Shareholders' funds			3,340,994		2,720,972

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 19 June 2025, and are signed on its behalf by:

WILLIAMSON, Laurence Andrew
Director
Registered Company No. SC274059

L WILLIAMSON LIMITED

Notes to the Financial Statements
for the year ended 30 September 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	10		10

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 October 23	675,155	182,014	139,903	9,979	1,007,051
Additions	3,015	3,500	137,837	1,745	146,097
Disposals	-	-	(90,445)	-	(90,445)
At 30 September 24	678,170	185,514	187,295	11,724	1,062,703
Depreciation and impairment
At 01 October 23	-	177,355	131,982	8,815	318,152
Charge for year	-	4,519	42,380	1,117	48,016
On disposals	-	-	(90,445)	-	(90,445)
At 30 September 24	-	181,874	83,917	9,932	275,723
Net book value
At 30 September 24	678,170	3,640	103,378	1,792	786,980
At 30 September 23	675,155	4,659	7,921	1,164	688,899

4.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 October 23	199,000	199,000
At 30 September 24	199,000	199,000
Net book value
At 30 September 24	199,000	199,000
At 30 September 23	199,000	199,000

	Notes
	¹Other investments other than loans

5.	Stocks

	2024	2023
	£	£
Raw materials and consumables	4,000	4,000
Total	4,000	4,000

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	428,429	456,412
Bank borrowings and overdrafts	-	106,180
Amounts owed to related parties	36,989	36,989
Taxation and social security	223,289	92,616
Other creditors	179,817	144,910
Accrued liabilities and deferred income	2,500	2,501
Total	871,024	839,608


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	26,177	1,748
Total	26,177	1,748