Williamston Estates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC039534 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WILLIAMSTON ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Burnett

Mrs R Burnett

Mr J F Burnett

SECRETARY:

Burnett & Reid LLP

REGISTERED OFFICE:

15 Golden Square

Aberdeen

AB10 1WF

REGISTERED NUMBER:

SC039534 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

FIXED ASSETS

Intangible assets

3

-

Tangible assets

4

1,214,179

1,151,343

1,214,179

1,151,343

CURRENT ASSETS

Stocks

141,245

115,595

Debtors

5

583,474

608,805

Investments

6

242

Cash at bank

26,770

63,407

751,731

788,049

CREDITORS

Amounts falling due within one year

7

267,847

181,901

NET CURRENT ASSETS

483,884

606,148

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,698,063

1,757,491

CREDITORS

Amounts falling due after more than one year

8

(429,852

)

(469,120

)

PROVISIONS FOR LIABILITIES

(44,648

)

(44,648

)

NET ASSETS

1,223,563

1,243,723

CAPITAL AND RESERVES

Called up share capital

10,000

Revaluation reserve

9

106,580

Other reserves

91,880

Retained earnings

1,015,103

1,035,263

SHAREHOLDERS' FUNDS

1,223,563

1,243,723

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Income Statement has not been delivered.

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

Mr C Burnett - Director

1.	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.

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.

Setaside Entitlement are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

43,846

AMORTISATION

At 1 January 2024

and 31 December 2024

43,846

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

922,002

568,833

1,490,835

Additions

-

91,821

Disposals

-

(21,200

)

(21,200

)

At 31 December 2024

922,002

639,454

1,561,456

DEPRECIATION

At 1 January 2024

-

339,492

Charge for year

-

28,195

Eliminated on disposal

-

(20,410

)

(20,410

)

At 31 December 2024

-

347,277

NET BOOK VALUE

At 31 December 2024

922,002

292,177

1,214,179

At 31 December 2023

922,002

229,341

1,151,343

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

1,377

7,291

Other debtors

582,097

601,514

583,474

608,805

6.	CURRENT ASSET INVESTMENTS

2024

2023

£

Unlisted investments

242

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

8,000

AMC loan less than 1 year

32,296

30,075

Hire purchase contracts

53,333

-

Trade creditors

20,006

1,253

Corporation tax

(770

)

(770

)

Social security and other taxes

32

(690

)

Other creditors

38

-

Directors' loan accounts

151,312

136,833

Accrued expenses

3,600

7,200

267,847

181,901

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans - 1-2 years

8,000

Bank loans - 2-5 years

2,000

10,000

AMC loan - 1-2 years

32,296

30,075

AMC loan - 2-5 years

193,778

180,448

AMC loan more than 5 years

193,778

240,597

429,852

469,120

Amounts falling due in more than five years:

Repayable by instalments

AMC loan more than 5 years

193,778

240,597

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

106,580

10.	DIRECTORS LOANS

The following advances and credits from directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

Mr C Burnett and Mrs R Burnett

Balance outstanding at start of year

72,338

69,702

Amounts advanced

44,752

20,785

Amounts repaid

(48,521

)

(18,149

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

68,569

72,338

Mr J F Burnett

Balance outstanding at start of year

64,495

35,877

Amounts advanced

24,248

34,484

Amounts repaid

(5,999

)

(5,866

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

82,744

64,495

The loans are interest free and there are no fixed terms of repayment.

11.	RELATED PARTY TRANSACTIONS

During the year the company had the following transactions with Culsalmond Air Limited, a company in which Mr C Burnett and Mr J Burnett are also directors:

2024

2023

£

Amount due from Culsalmond Air Ltd at 31 December 2023

576,897

742,772

Received from Culsalmond Air Ltd during year

((73,885

)

(200,000

)

Interest

43,805

34,125

Paid to Culsalmond Air Ltd during the year

-

Amount due from Culsalmond Air Ltd at 31 December 2024

546,817

576,897

There are no fixed terms of repayment.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J F Burnett.

Mr J Burnett, together with members of his close family, control the company by virtue of a 100% controlling interest in the issued ordinary share capital.