W.A.A. Eddie Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC034819 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

W.A.A Eddie Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

James Gordon Eddie

Mairi Gunson Eddie

James William Eddie

SECRETARY:

Mairi Gunson Eddie

REGISTERED OFFICE:

12 Heathside Road

Giffnock

Glasgow

G46 6HL

REGISTERED NUMBER:

SC034819 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

Westburn Business Centre

McNee Road

Prestwick

KA9 2PB

FIXED ASSETS

Tangible assets

4

35,949

46,233

Investment property

5

300,000

335,949

346,233

CURRENT ASSETS

Stocks

6,735

6,539

Debtors

6

166,678

213,560

Cash at bank and in hand

318,398

206,311

491,811

426,410

CREDITORS

Amounts falling due within one year

7

135,850

56,948

NET CURRENT ASSETS

355,961

369,462

TOTAL ASSETS LESS CURRENT
LIABILITIES

691,910

715,695

CREDITORS

Amounts falling due after more than one
year

8

(11,000

)

(11,000

)

PROVISIONS FOR LIABILITIES

(75,266

)

(70,680

)

NET ASSETS

605,644

634,015

CAPITAL AND RESERVES

Called up share capital

9

7,000

Non-distributable FV reserve

10

223,292

Retained earnings

375,352

403,723

SHAREHOLDERS' FUNDS

605,644

634,015

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 10 June 2025 and were signed on its behalf by:

James Gordon Eddie - Director

Mairi Gunson Eddie - Director

James William Eddie - Director

1.	STATUTORY INFORMATION

W.A.A Eddie Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The directors review the working capital requirements of the business on a regular basis all with a view to ensuring that there are sufficient resources to meet bills as they fall due. Taking account of current available resources and the budgeted level of business projected for the year ahead the directors are satisfied that they do have sufficient resources to achieve this. On that basis the directors have prepared the accounts on a going concern basis.

Turnover/revenue recognition

Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

Tangible fixed assets

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

Land and buildings

-

5% on cost

Plant and machinery etc

-

25% on reducing balance and 20% on cost

The company's heritable property is not depreciated. The directors believe that taking account of the low historic cost value of this asset and current residual value no depreciation charge would be appropriate.

Tangible fixed assets are stated at cost less depreciation.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

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.

Taxation

Taxation for the year 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 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

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits

The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

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.

Impairment of fixed assets

At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 February 2024

37,274

94,138

131,412

Additions

-

9,750

Disposals

-

(18,300

)

(18,300

)

At 31 January 2025

37,274

85,588

122,862

DEPRECIATION

At 1 February 2024

33,861

51,318

85,179

Charge for year

194

10,349

10,543

Eliminated on disposal

-

(8,809

)

(8,809

)

At 31 January 2025

34,055

52,858

86,913

NET BOOK VALUE

At 31 January 2025

3,219

32,730

35,949

At 31 January 2024

3,413

42,820

46,233

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

300,000

NET BOOK VALUE

At 31 January 2025

300,000

At 31 January 2024

300,000

Fair value at 31 January 2025 is represented by:

£

Valuation in 2024

290,932

Cost

9,068

300,000

Investment property was valued on an open market basis on 24 September 2024 by Dalkin & Co .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

166,566

207,671

Other debtors

112

5,889

166,678

213,560

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

116,393

43,032

Taxation and social security

8,304

3,068

Other creditors

11,153

10,848

135,850

56,948

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Other creditors

11,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

11,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

7,000

Ordinary

£1

7,000

10.

RESERVES

Non-distributable

FV

reserve

£

At 1 February 2024

and 31 January 2025

223,292

11.	RELATED PARTY DISCLOSURES

The company operates a loan account with the directors. At the year end, the balance due to the directors was £1,557 (2024: £923). This loan is unsecured, interest free and has no fixed repayment terms.

12.	CONTROLLING PARTY

By virtue of their ownership of the entire share capital of W A A Eddie Holdings Limited, Mr and Mrs J G Eddie are in control of the company.