Company Registration No. SC055405 (Scotland)
W.L. Sleigh Limited
Unaudited accounts
for the year ended 31 December 2024
W.L. Sleigh Limited
Unaudited accounts
Contents
W.L. Sleigh Limited
Company Information
for the year ended 31 December 2024
Directors
William Lowrie Sleigh
Russell Dunsmore
Company Number
SC055405 (Scotland)
Registered Office
56
Palmerston Place
Edinburgh
EH12 9DB
United Kingdom
Accountants
Gemmell McGee VAT Solutions Ltd
Northend Cottage
Hopetoun House
South Queensferry
EH30 9SL
W.L. Sleigh Limited
Statement of financial position
as at 31 December 2024
Tangible assets
551,574
364,913
Cash at bank and in hand
237,099
98,783
Creditors: amounts falling due within one year
(227,870)
(188,460)
Net current assets
201,585
69,661
Total assets less current liabilities
753,159
434,574
Creditors: amounts falling due after more than one year
(474,327)
(297,923)
Provisions for liabilities
Net assets
255,255
136,651
Called up share capital
40,000
40,000
Profit and loss account
213,348
94,744
Shareholders' funds
255,255
136,651
For the year ending 31 December 2024 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by
William Lowrie Sleigh
Director
Company Registration No. SC055405
W.L. Sleigh Limited
Notes to the Accounts
for the year ended 31 December 2024
W.L. Sleigh Limited is a private company, limited by shares, registered in Scotland, registration number SC055405. The registered office is 56, Palmerston Place, Edinburgh, EH12 9DB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over lease term
Motor vehicles
25% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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 accounts. 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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
W.L. Sleigh Limited
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 January 2024
12,750
4,587
537,415
26,568
2,295
583,615
Additions
-
-
334,712
-
2,323
337,035
Disposals
-
-
(23,500)
-
-
(23,500)
At 31 December 2024
12,750
4,587
848,627
26,568
4,618
897,150
At 1 January 2024
10,583
287
181,377
26,288
167
218,702
Charge for the year
434
860
134,084
57
619
136,054
On disposals
-
-
(9,180)
-
-
(9,180)
At 31 December 2024
11,017
1,147
306,281
26,345
786
345,576
At 31 December 2024
1,733
3,440
542,346
223
3,832
551,574
At 31 December 2023
2,167
4,300
356,038
280
2,128
364,913
Amounts falling due within one year
Trade debtors
149,199
125,536
Other debtors
43,157
33,802
W.L. Sleigh Limited
Notes to the Accounts
for the year ended 31 December 2024
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
16,200
18,531
Obligations under finance leases and hire purchase contracts
90,222
46,768
Trade creditors
23,304
46,256
Taxes and social security
51,782
57,583
Other creditors
21,986
12,186
Loans from directors
1,875
900
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
462,193
263,105
Hire purchase contracts are secured on the assets to which they relate
8
Transactions with related parties
The following amounts were outstanding at the reporting date:
Due to related parties - £15,372 (2023: £11,690)
The amounts owed to the above related parties are unsecured, interest free and repayable on demand.
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Average number of employees
During the year the average number of employees was 13 (2023: 13).