WILCON ENTERPRISES LIMITED


Directors	GALLAGHER, A
	KEENAN, J
	KEENAN, N
	KEENAN, W J (Jnr)
	KEENAN, W J


Company Secretary	KEENAN, W J


Registered Address	Miller Lane
	Clydebank
	G81 1UJ


Registered Number	SC086764 (Scotland)

Statement of Financial Position
31 October 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		192,517		179,287
Investment property	4		1,015,000		1,015,000
			1,207,517		1,194,287
Current assets
Debtors	5	24,665		27,498
Cash at bank and on hand		510,499		589,676
		535,164		617,174
Creditors amounts falling due within one year	6	(60,215)		(179,768)
Net current assets (liabilities)			474,949		437,406
Total assets less current liabilities			1,682,466		1,631,693
Provisions for liabilities	7		(47,428)		(40,849)
Net assets			1,635,038		1,590,844
Capital and reserves
Called up share capital			50,000		50,000
Revaluation reserve			440,608		440,608
Profit and loss account			1,144,430		1,100,236
Shareholders' funds			1,635,038		1,590,844

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2026, and are signed on its behalf by:

KEENAN, J
Director
Registered Company No. SC086764

WILCON ENTERPRISES LIMITED

Notes to the Financial Statements
for the year ended 31 October 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis, modified to include the revaluation of certain fixed assets, unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention on a going concern basis, modified to include the revaluation of certain fixed assets, unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover represents the value of business services rendered and rent receivable, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer and to recognise rental income on a straight line basis in accordance with the terms of the lease agreements.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Fixtures and fittings	-	3
Vehicles	25	-

	Investment property
	All of the company's properties are held for long term investment. Investment properties are accounted for as follows: (i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure. (ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably. (iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet. (iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

Investment property

All of the company's properties are held for long term investment. Investment properties are accounted for as follows:

(i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are  accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Land & buildings	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 November 24	200,000	36,905	53,725	290,630
Additions	-	20,194	-	20,194
Disposals	-	(13,905)	-	(13,905)
At 31 October 25	200,000	43,194	53,725	296,919
Depreciation and impairment
At 01 November 24	31,272	26,346	53,725	111,343
Charge for year	-	3,288	-	3,288
On disposals	-	(10,229)	-	(10,229)
At 31 October 25	31,272	19,405	53,725	104,402
Net book value
At 31 October 25	168,728	23,789	-	192,517
At 31 October 24	168,728	10,559	-	179,287


	The directors have considered the residual value of the property and are of the opinion it is not less than its carrying value, therefore, no depreciation has been applied.

4.	Investment property
	The fair value of the investment property at 31 October 2025 has been arrived at on the basis of a valuation carried out by Lapsley McManus, who are professionally qualified valuers. The valuation was carried out on 28 February 2024 on the basis of market value at the date of the report. It is the opinion of the directors that the valuation of investment property at the date of the report is representative of the value at the balance sheet date.

Investment property

The fair value of the investment property at 31 October 2025 has been arrived at on the basis of a valuation carried out by Lapsley McManus, who are professionally qualified valuers. The valuation was carried out on 28 February 2024 on the basis of market value at the date of the report. It is the opinion of the directors that the valuation of investment property at the date of the report is representative of the value at the balance sheet date.


		£
	Fair value at 01 November 24	1,015,000
	At 31 October 25	1,015,000

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	3,657	18,847
Other debtors	14,296	75
Prepayments and accrued income	6,712	8,576
Total	24,665	27,498

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	34,000	26,541
Other creditors	12,537	136,946
Accrued liabilities and deferred income	13,678	16,281
Total	60,215	179,768

7.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	47,428	40,849
Total	47,428	40,849

8.	Operating lease commitments
	At 31 October 2025 the company had future minimum lease payments under non-cancellable operating leases of £165,309 (2024: £165,309).