W J Scott Limited 31/03/2025 iXBRL

Company registration number: 05198112

W J Scott Limited

Unaudited filleted financial statements

31 March 2025

W J Scott Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

W J Scott Limited

Directors and other information


	Director	Mr W J Scott


	Company number	05198112


	Registered office	Low Leam
		West Woodburn
		Hexham
		Northumberland
		NE48 2SF


	Business address	Low Leam
		West Woodburn
		Hexham
		Northumberland
		NE48 2SF


	Accountants	McCowie & Co
		2 Gosforth Park Avenue
		Newcastle Upon Tyne
		NE12 8EG




	Bankers	Lloyds TSB
		Priestpopple
		Hexham
		Northumberland

W J Scott Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	321,850		351,180
		_______		_______
			321,850		351,180

Current assets
Stocks		351,254		320,926
Debtors	6	65,264		70,851
Cash at bank and in hand		14,726		11,079
		_______		_______
		431,244		402,856
Creditors: amounts falling due
within one year	7	( 497,328)		( 517,050)
		_______		_______
Net current liabilities			( 66,084)		( 114,194)
			_______		_______
Total assets less current liabilities			255,766		236,986

Creditors: amounts falling due
after more than one year	8		( 1,667)		( 11,667)

Provisions for liabilities			( 64,000)		( 68,000)

			_______		_______
Net assets			190,099		157,319
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			189,999		157,219
			_______		_______
Shareholders funds			190,099		157,319
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 10 October 2025 , and are signed on behalf of the board by:

Mr W J Scott

Director

Company registration number: 05198112

W J Scott Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is W J Scott Limited, Low Leam, West Woodburn, Hexham, Northumberland, NE48 2SF.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £1.

Turnover

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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.

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:


Plant and machinery	-	10 %	straight line
Motor vehicles	-	25 %	straight line
Improvements	-	4 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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.Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Farm improvements	Total
	£	£	£	£
Cost
At 1 April 2024	618,199	52,145	184,109	854,453
Additions	54,455	-	-	54,455
Disposals	( 33,020)	-	-	( 33,020)
	_______	_______	_______	_______
At 31 March 2025	639,634	52,145	184,109	875,888
	_______	_______	_______	_______
Depreciation
At 1 April 2024	364,349	31,695	107,229	503,273
Charge for the year	50,895	3,550	9,750	64,195
Disposals	( 13,430)	-	-	( 13,430)
	_______	_______	_______	_______
At 31 March 2025	401,814	35,245	116,979	554,038
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	237,820	16,900	67,130	321,850
	_______	_______	_______	_______
At 31 March 2024	253,850	20,450	76,880	351,180
	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	-	16,528
Other debtors	65,264	54,323
	_______	_______
	65,264	70,851
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	372,799	401,513
Trade creditors	85,916	93,011
Corporation tax	24,762	5,848
Social security and other taxes	212	680
Other creditors	13,639	15,998
	_______	_______
	497,328	517,050
	_______	_______

The bank overdraft of £362,799 (2024 £391,513) is secured on the assets of the company and by a personal guarantee from the director. The bank loan of £10,000 (2024 £10,000) is a government bounce back loan with an interest rate of 2. 5%. Obligations under hire purchase contacts and finance lease contracts of £- (2024 £2,523) are secured against the asset the agreement relates to.

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

	2025	2024
	£	£
Bank loans and overdrafts	1,667	11,667
	_______	_______

The bank loan of £1,667 (2024 £11,667) is a government bounce back loan with an interest rate of 2. 5%.

9. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr W J Scott	37,386	55,061	( 37,500)	54,947
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr W J Scott	42,929	37,457	( 43,000)	37,386
		_______	_______	_______	_______

10. Related party transactions

During the year a dividend of £22,360 (31 March 2024 £11,960) was paid to the director.

11. Controlling party

The company is controlled by Mr W J Scott (director) who owns the majority of the share capital.