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REGISTERED NUMBER: SC424807 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

WAVERLEY KITCHENS LTD

WAVERLEY KITCHENS LTD (REGISTERED NUMBER: SC424807)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WAVERLEY KITCHENS LTD

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTORS: M Patton
A R Vernal





REGISTERED OFFICE: 13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC424807 (Scotland)





ACCOUNTANTS: Profit Counts Limited
13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS

WAVERLEY KITCHENS LTD (REGISTERED NUMBER: SC424807)

ABRIDGED BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 30,300 32,204

CURRENT ASSETS
Stocks 51,010 50,010
Debtors 7,570 8,832
Cash at bank 36 2,472
58,616 61,314
CREDITORS
Amounts falling due within one year (58,482 ) (63,116 )
NET CURRENT ASSETS/(LIABILITIES) 134 (1,802 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,434

30,402

CREDITORS
Amounts falling due after more than one
year

(4,665

)

(23,562

)

PROVISIONS FOR LIABILITIES (5,401 ) (5,740 )
NET ASSETS 20,368 1,100

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings 7 20,366 1,098
SHAREHOLDERS' FUNDS 20,368 1,100

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

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

WAVERLEY KITCHENS LTD (REGISTERED NUMBER: SC424807)

ABRIDGED BALANCE SHEET - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





M Patton - Director


WAVERLEY KITCHENS LTD (REGISTERED NUMBER: SC424807)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Waverley Kitchens Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% straight line
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

WAVERLEY KITCHENS LTD (REGISTERED NUMBER: SC424807)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 128,698
Additions 3,772
At 30 September 2024 132,470
DEPRECIATION
At 1 October 2023 96,494
Charge for year 5,676
At 30 September 2024 102,170
NET BOOK VALUE
At 30 September 2024 30,300
At 30 September 2023 32,204

As at the 30 September 2024 the Net Book Value of assets, previously held under HP or Finance leases but transferred to ownership during the year, was £23,354 (2023: £29,193 NBV of assets help under HP or Finance Leases). The depreciation charge for the year in respect of these assets were £5,839 (2023 : £16,399).

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 26,005

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

7. RESERVES
Retained
earnings
£   

At 1 October 2023 1,098
Profit for the year 39,341
Dividends (20,073 )
At 30 September 2024 20,366

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, none of the directors owed the company.

During the year each Director was paid a dividend of £10,036 (2023: £6,500).