G D Wilson Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC280457 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

G D WILSON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G D Wilson

Mrs A L Wilson

SECRETARY:

Mrs A L Wilson

REGISTERED OFFICE:

Turtory

Bridge of Marnoch

Huntly

Aberdeenshire

AB54 7UJ

REGISTERED NUMBER:

SC280457 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

51-53 High Street

Turriff

AB53 4EJ

FIXED ASSETS

Intangible assets

4

4,930

7,395

Tangible assets

5

2,233,712

2,213,623

Investments

6

1,050

Herd basis

7

39,935

2,279,627

2,262,003

CURRENT ASSETS

Stocks

244,065

219,465

Debtors

8

20,519

52,837

Cash at bank

371,257

152,265

635,841

424,567

CREDITORS

Amounts falling due within one year

9

569,724

533,777

NET CURRENT ASSETS/(LIABILITIES)

66,117

(109,210

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,345,744

2,152,793

PROVISIONS FOR LIABILITIES

167,052

157,549

NET ASSETS

2,178,692

1,995,244

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

2,177,692

1,994,244

SHAREHOLDERS' FUNDS

2,178,692

1,995,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 14 January 2026 and were signed on its behalf by:

Mr G D Wilson - Director

Mrs A L Wilson - Director

1.	STATUTORY INFORMATION

G D Wilson 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.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amount are recorded as Deferred income and included as part of Creditors due within one year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible Assets are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2024

and 28 February 2025

12,326

AMORTISATION

At 1 March 2024

4,931

Charge for year

2,465

At 28 February 2025

7,396

NET BOOK VALUE

At 28 February 2025

4,930

At 29 February 2024

7,395

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 March 2024

1,471,667

2,353,762

3,825,429

Additions

-

180,438

Disposals

-

(2,000

)

(2,000

)

At 28 February 2025

1,471,667

2,532,200

4,003,867

DEPRECIATION

At 1 March 2024

-

1,611,806

Charge for year

-

158,349

At 28 February 2025

-

1,770,155

NET BOOK VALUE

At 28 February 2025

1,471,667

762,045

2,233,712

At 29 February 2024

1,471,667

741,956

2,213,623

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 March 2024

and 28 February 2025

1,050

NET BOOK VALUE

At 28 February 2025

1,050

At 29 February 2024

1,050

7.	HERD BASIS

Herd

basis

£

COST

At 1 March 2024

and 28 February 2025

39,935

NET BOOK VALUE

At 28 February 2025

39,935

At 29 February 2024

39,935

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

2,734

14,117

VAT

-

27,755

Prepayments and accrued income

17,785

10,965

20,519

52,837

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Sandyhills Developments

(Banff) Ltd loan

121,870

169,870

Trade creditors

162,463

54,768

Tax

57,393

57,056

Social security and other taxes

2,081

1,788

VAT

3,184

-

Directors' loan accounts

217,824

246,645

Accruals and deferred income

4,909

3,650

569,724

533,777

10.	DIRECTOR'S LOAN

The following advances and credits from directors subsisted during the years ended 28 February 2025 and 29 February 2024:

2025

2024

£

Mr G D Wilson and Mrs A L Wilson

Balance outstanding at start of year

246,645

258,115

Amounts repaid

(28,821

)

(11,470

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

217,824

246,645

The loan is interest free and there are no fixed terms of repayment.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs G D Wilson.