Jamieson Wallace Securities Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC098987 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Jamieson Wallace Securities Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A J Smith

Mrs M J Smith

J W Manson

Mrs M A Manson

SECRETARY:

R A J Smith

REGISTERED OFFICE:

The Craighaar Hotel

Waterton Road

Bankhead

Aberdeen

AB21 9HS

REGISTERED NUMBER:

SC098987 (Scotland)

ACCOUNTANTS:

Victor T Fraser & Co Limited

Chartered Accountants

3-4 Market Place

Wick

Caithness

KW1 4LP

BANKERS:

Royal Bank of Scotland

81 Commercial Street

Lerwick

Shetland

ZE1 0AD

FIXED ASSETS

Tangible assets

4

8,837

11,783

Investments

5

150,000

Investment property

6

2,027,965

2,186,802

2,189,748

CURRENT ASSETS

Debtors

7

21,384

96,304

Cash at bank

196,297

147,675

217,681

243,979

CREDITORS

Amounts falling due within one year

8

23,167

24,065

NET CURRENT ASSETS

194,514

219,914

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,381,316

2,409,662

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

2,380,316

2,408,662

SHAREHOLDERS' FUNDS

2,381,316

2,409,662

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

The members have not required the company to obtain an audit of its financial statements for the year 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 Income Statement has not been delivered.

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

R A J Smith - Director

Mrs M J Smith - Director

1.	STATUTORY INFORMATION

Jamieson Wallace Securities 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.

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

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.

Deferred tax

Deferred Tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or pay less tax in the future have occurred at the balance date.

Deferred Tax is measured at the average tax rates that are expected to apply in the period in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date on a non-discounted basis.

No provision is made for temporary differences

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

169,022

DEPRECIATION

At 1 April 2024

157,239

Charge for year

2,946

At 31 March 2025

160,185

NET BOOK VALUE

At 31 March 2025

8,837

At 31 March 2024

11,783

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2024

and 31 March 2025

150,000

NET BOOK VALUE

At 31 March 2025

150,000

At 31 March 2024

150,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,027,965

NET BOOK VALUE

At 31 March 2025

2,027,965

At 31 March 2024

2,027,965

Fair value at 31 March 2025 is represented by:

£

Valuation in 2004

168,206

Valuation in 2009

355,000

Cost

1,504,759

2,027,965

If Investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

1,504,759

Investment property was valued on fair value basis on 31 March 2023 by the Directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amounts owed by participating interests

-

75,000

Other debtors

21,384

21,304

21,384

96,304

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Taxation and social security

20,899

22,176

Other creditors

2,268

1,889

23,167

24,065

9.	SECURED DEBTS

The company's borrowings are secured by standard securities over the investment properties.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

R A J Smith

Balance outstanding at start of year

1

(15,625

)

Amounts advanced

5

15,626

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

6

1

J W Manson

Balance outstanding at start of year

10,000

(5,625

)

Amounts advanced

-

15,625

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

10,000

11.	RELATED PARTY DISCLOSURES

The amounts outstanding at the end of the financial year in respect of loans from Directors to the company were:-

Mr R A J Smith - £(6) (2024 £1)

Mr J W Manson - £(10,000) (2024 £10,000)

Mr R A J Smith, Mr J W Manson and Mrs M A Manson are directors of Jim's Garage (Shetland) Limited.

The company holds a Fixed Asset Investment of £150,000 (2024 - £150,000) in Jim's Garage (Shetland) Limited.

A related party loan balance of £Nil (2024 £75,000) included in debtors is due from Jim's Garage (Shetland) Limited.

The Company also provides management services to Jim's Garage (Shetland) Limited and these totalled £10,400 in the current year (2024 - £10,400). There were no outstanding payments due at the year end.