REGISTERED NUMBER: SC757745 (Scotland)

Unaudited Financial Statements

for the Period

29 February 2024 to 31 March 2025

for

Wheatrig Commercials Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Hogarth

Mrs M Hogarth

Mr G J Hogarth

Mr G R Hogarth

REGISTERED OFFICE:

Wheatrig Farm

Kilmaurs

Ayrshire

KA3 2NG

REGISTERED NUMBER:

SC757745 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

Westburn Business Centre

McNee Road

Prestwick

KA9 2PB

FIXED ASSETS

Investment property

4

517,321

517,321

CURRENT ASSETS

Cash at bank and in hand

3,212

999

CREDITORS

Amounts falling due within one year

5

172,415

516,051

NET CURRENT LIABILITIES

(169,203

)

(515,052

)

TOTAL ASSETS LESS CURRENT LIABILITIES

348,118

2,269

CREDITORS

Amounts falling due after more than one year

6

(331,265

)

-

PROVISIONS FOR LIABILITIES

(3,656

)

(520

)

NET ASSETS

13,197

1,749

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

13,195

1,747

SHAREHOLDERS' FUNDS

13,197

1,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2025 and were signed on its behalf by:

Mrs M Hogarth - Director

1.	STATUTORY INFORMATION

Wheatrig Commercials 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Going concern

After reviewing the company's current trading performance and existing and future cash resources, the directors have a reasonable expectation that the company has adequate finances to continue in operational existence for the foreseeable future. The directors therefore continues to adopt the going concern basis in preparing the financial statements.

Turnover

Sales comprise the fair value of rents received or receivable on the company's investment property. Sales are presented, net of value-added tax, rebates and discounts

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables

Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities

Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments

A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Cash and cash equivalents

Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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 period was 4 (2024 - 4 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29 February 2024

and 31 March 2025

517,321

NET BOOK VALUE

At 31 March 2025

517,321

At 28 February 2024

517,321

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

517,321

Investment property was valued on fair value basis on 31 March 2025 by the director .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,546

-

Trade creditors

-

2,000

Taxation and social security

495

597

Other creditors

167,374

513,454

172,415

516,051

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

331,265

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

313,082

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

335,811

-

8.	RELATED PARTY DISCLOSURES

During 2024, substantial funds were advanced to the company by Mr and Mrs John Hogarth to assist with construction costs of the new commercial premises. These advances were interest free. As at 31 March 2025 the amount due to Mr & Mrs Hogarth amounted to £153,207 (2024- £509,854).