Andrew Wilson & Sons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC019360

Andrew Wilson & Sons Limited

Filleted Unaudited Financial Statements

30 September 2024

Andrew Wilson & Sons Limited

Financial Statements

Year ended 30 September 2024

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 8

Andrew Wilson & Sons Limited

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		1,058,319	1,109,326

Current assets

Debtors	6	64,712	58,553
Cash at bank and in hand		18,041	17,773
		---------	---------
		82,753	76,326

Creditors: amounts falling due within one year	7	221,135		218,954
		----------		----------
Net current liabilities			138,382	142,628
			-------------	-------------
Total assets less current liabilities			919,937	966,698

Creditors: amounts falling due after more than one year	8		4,000	10,000

Provisions

Taxation including deferred tax	95,033	97,019
	----------	----------
Net assets	820,904	859,679
	----------	----------

Andrew Wilson & Sons Limited

Statement of Financial Position (continued)

30 September 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	676	676
Revaluation reserve	569,365	569,365
Capital redemption reserve	24	24
Profit and loss account	250,839	289,614
	----------	----------
Shareholders funds	820,904	859,679
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

A J Lees
Director

Company registration number: SC019360

Andrew Wilson & Sons Limited

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is St Ann's Mount, 39 Spring Gardens, Abbeyhill, Edinburgh, EH8 8HR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

When preparing financial statements, the directors shall make an assessment of the entity's ability to continue as a going concern. Financial statements shall be prepared on a going concern basis unless the directors either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property	-	2% straight line
Equipment	-	10% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2023: 12 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 October 2023	695,000	2,453,369	195,613	5,085	3,349,067
Additions	–	13,020	–	–	13,020
	----------	-------------	----------	-------	-------------
At 30 September 2024	695,000	2,466,389	195,613	5,085	3,362,087
	----------	-------------	----------	-------	-------------
Depreciation
At 1 October 2023	41,700	2,015,046	178,448	4,547	2,239,741
Charge for the year	13,900	45,134	4,641	352	64,027
	----------	-------------	----------	-------	-------------
At 30 September 2024	55,600	2,060,180	183,089	4,899	2,303,768
	----------	-------------	----------	-------	-------------
Carrying amount
At 30 September 2024	639,400	406,209	12,524	186	1,058,319
	----------	-------------	----------	-------	-------------
At 30 September 2023	653,300	438,323	17,165	538	1,109,326
	----------	-------------	----------	-------	-------------

Tangible assets held at valuation

The property was revalued by the directors based on current market values at 30 September 2023.

6. Debtors

	2024	2023
	£	£
Trade debtors	47,878	44,650
Prepayments and accrued income	16,834	13,903
	---------	---------
	64,712	58,553
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	8,485	9,787
Trade creditors	32,077	36,291
Accruals and deferred income	11,765	5,927
Social security and other taxes	60,308	50,749
Director loan accounts	108,500	116,200
	----------	----------
	221,135	218,954
	----------	----------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,000	10,000
	-------	---------

9. Related party transactions

The company was under the control of the directors throughout the current and previous year. At the balance sheet date the company owed two directors J Lees and H I Lees £108,500 (2023 - £116,200) by way of a joint directors loan. In this year the company paid £2,000 of interest in respect of this loan.