REGISTERED NUMBER: SC335429 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Peter Willox Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P J Willox

REGISTERED OFFICE:

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

REGISTERED NUMBER:

SC335429 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Tangible assets

4

1,312

909

CURRENT ASSETS

Debtors

5

16,118

10,900

Cash at bank

1,968

4,618

18,086

15,518

CREDITORS

Amounts falling due within one year

6

18,041

12,608

NET CURRENT ASSETS

45

2,910

TOTAL ASSETS LESS CURRENT LIABILITIES

1,357

3,819

CREDITORS

Amounts falling due after more than one year

7

(1,000

)

(3,400

)

PROVISIONS FOR LIABILITIES

(249

)

(173

)

NET ASSETS

108

246

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8

146

SHAREHOLDERS' FUNDS

108

246

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Mr P J Willox - Director

1.	STATUTORY INFORMATION

Peter Willox 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 represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

1,377

Additions

1,149

At 31 December 2024

2,526

DEPRECIATION

At 1 January 2024

468

Charge for year

746

At 31 December 2024

1,214

NET BOOK VALUE

At 31 December 2024

1,312

At 31 December 2023

909

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

11,600

10,900

Directors' current accounts

3,378

-

Tax

1,140

-

16,118

10,900

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

2,400

2,400

Tax

13,830

7,402

Directors' current accounts

-

1,043

Accrued expenses

1,811

1,763

18,041

12,608

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

1,000

2,400

Bank loans - 2-5 years

-

1,000

1,000

3,400

8.	RELATED PARTY DISCLOSURES

The director operates a loan account with the company and as at the financial year end the balance owing by him to the company was £3,378 (2023: owing by the company £1,043). Whilst the loan is considered short term, there are no fixed terms of repayment an no interest is accrued.

The balance of other debtors includes the sum of £11,600 (2023 - £10,900) being a loan to the company of 'CW Engineering & Fishing Ltd' which is a company controlled by the son the the director. Whilst the loan is considered short term, there are no fixed terms of repayment and no interest is accrued.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P J Willox.