Wyvis Stocker Limited - Accounts to registrar (filleted) - small 18.2

Wyvis Stocker Limited - Accounts to registrar (filleted) - small 18.2

WYVIS STOCKER LIMITED - Company Information

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REGISTERED NUMBER: SC489837 (Scotland)




















Wyvis Stocker Limited

Unaudited Financial Statements

for the Year Ended 31 March 2020





Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT








Wyvis Stocker Limited (Registered number: SC489837)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wyvis Stocker Limited

Company Information
for the Year Ended 31 March 2020







DIRECTORS: Mr D Gettie
Mrs L J Gettie



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC489837 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Clydesdale Bank
83 George Street
Edinburgh
EH2 3ES
Page 1
Wyvis Stocker Limited (Registered number: SC489837)

Balance Sheet
31 March 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,600 2,600
Investment property 5 290,000 255,920
292,600 258,520

CURRENT ASSETS
Debtors 6 49,705 49,845
Cash at bank 82,316 43,053
132,021 92,898
CREDITORS
Amounts falling due within one year 7 1,910 2,349
NET CURRENT ASSETS 130,111 90,549
TOTAL ASSETS LESS CURRENT
LIABILITIES
422,711
349,069

PROVISIONS FOR LIABILITIES 5,113 -
NET ASSETS 417,598 349,069

CAPITAL AND RESERVES
Called up share capital 140 140
Fair value reserve 8 28,967 -
Retained earnings 388,491 348,929
SHAREHOLDERS' FUNDS 417,598 349,069

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 notes form part of these financial statements

Page 2 continued...
Wyvis Stocker Limited (Registered number: SC489837)

Balance Sheet - continued
31 March 2020


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 27 October 2020 and were signed on its behalf by:





Mr D Gettie - Director


The notes form part of these financial statements

Page 3
Wyvis Stocker Limited (Registered number: SC489837)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

Wyvis Stocker 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are shown at their open market value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

This is in accordance with the FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the Companies Act is required in order to give a true and fair view.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. All loans with related parties are all repayable on demand.

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.

Page 4 continued...
Wyvis Stocker Limited (Registered number: SC489837)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2019
and 31 March 2020 2,600
NET BOOK VALUE
At 31 March 2020 2,600
At 31 March 2019 2,600

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2019 255,920
Revaluations 34,080
At 31 March 2020 290,000
NET BOOK VALUE
At 31 March 2020 290,000
At 31 March 2019 255,920

Page 5 continued...
Wyvis Stocker Limited (Registered number: SC489837)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

5. INVESTMENT PROPERTY - continued

The investment properties are shown at the directors' estimated valuation of open market value as at 31 March 2020. The directors are not professional valuers.

Fair value at 31 March 2020 is represented by:

£   
Valuation in 2020 34,080
Cost 255,920
290,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Amounts owed by group undertakings 49,705 49,705
Other debtors - 140
49,705 49,845

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Taxation and social security 1,070 1,570
Other creditors 840 779
1,910 2,349

8. RESERVES
Fair
value
reserve
£   
Transfer in year 28,967

At 31 March 2020 28,967

9. GOING CONCERN

The directors going concern assessment includes the expected impact of COVID-19 to the company for a period of at least 12 months from the date of signing of these financial statements.

Page 6