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Company No: SC142064 (Scotland)

WOOLGAR HUNTER LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

WOOLGAR HUNTER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

WOOLGAR HUNTER LIMITED

BALANCE SHEET

AS AT 31 OCTOBER 2024
WOOLGAR HUNTER LIMITED

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 272,510 360,553
Investments 4 4,802 4,802
277,312 365,355
Current assets
Stocks 200 200
Debtors 5 1,788,238 1,894,500
Cash at bank and in hand 818,845 1,474,563
2,607,283 3,369,263
Creditors: amounts falling due within one year 6 ( 903,121) ( 1,090,710)
Net current assets 1,704,162 2,278,553
Total assets less current liabilities 1,981,474 2,643,908
Net assets 1,981,474 2,643,908
Capital and reserves
Called-up share capital 7 100 100
Share premium account 94,042 94,042
Capital redemption reserve 200 200
Profit and loss account 1,887,132 2,549,566
Total shareholders' funds 1,981,474 2,643,908

For the financial year ending 31 October 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 Woolgar Hunter Limited (registered number: SC142064) were approved and authorised for issue by the Board of Directors on 16 July 2025. They were signed on its behalf by:

W Neilson
Director
WOOLGAR HUNTER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
WOOLGAR HUNTER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 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

Woolgar Hunter Limited (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 226 West George Street, Glasgow, G2 2PQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

The turnover shown in the profit and loss account represents the value of all services delivered during the year at selling price exclusive of VAT. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.

Unbilled work in progress is recognised in revenue only to the extent of expenses recognised that are recoverable.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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:

Plant and machinery 25 % reducing balance
Vehicles 4 years straight line
Fixtures and fittings 10 % 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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.

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. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 67 66

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 November 2023 270,293 353,130 119,430 742,853
Additions 6,920 0 12,689 19,609
Disposals 0 ( 33,000) 0 ( 33,000)
At 31 October 2024 277,213 320,130 132,119 729,462
Accumulated depreciation
At 01 November 2023 131,847 189,052 61,401 382,300
Charge for the financial year 35,396 52,011 6,495 93,902
Disposals 0 ( 19,250) 0 ( 19,250)
At 31 October 2024 167,243 221,813 67,896 456,952
Net book value
At 31 October 2024 109,970 98,317 64,223 272,510
At 31 October 2023 138,446 164,078 58,029 360,553

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 November 2023 2
At 31 October 2024 2
Carrying value at 31 October 2024 2
Carrying value at 31 October 2023 2

Other investments Total
£ £
Cost or valuation before impairment
At 01 November 2023 4,800 4,800
At 31 October 2024 4,800 4,800
Carrying value at 31 October 2024 4,800 4,800
Carrying value at 31 October 2023 4,800 4,800

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.10.2024
Ownership
31.10.2023
Woolgar Hunter Projects Limited 226 West George Street, Glasgow, G2 2PQ Dormant company Ordinary 100.00% 100.00%
T. Lawrie Limted 226 West George Street, Glasgow, G2 2PQ Dormant company Ordinary 100.00% 100.00%

5. Debtors

2024 2023
£ £
Trade debtors 1,442,747 1,502,606
Corporation tax 63,668 0
Other debtors 281,823 391,894
1,788,238 1,894,500

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 127,585 113,084
Corporation tax 0 80,962
Other taxation and social security 528,942 654,729
Other creditors 246,594 241,935
903,121 1,090,710

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 81,957 87,126

9. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed by related parties 129,335 114,935

These amounts are unsecured, interest free, and repayable on demand.