Wittets Limited Filleted accounts for Companies House (small and micro)
Wittets Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
SC076335
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Financial Statements |
Year ended 31 December 2021
Contents |
Pages |
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
Statement of financial position |
2 to 3 |
Notes to the financial statements |
4 to 8 |
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Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 December 2021
103 High Street
ELGIN
IV30 1EB
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Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Work in Progress |
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Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
(
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(
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
(
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(
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Net assets |
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Capital and reserves
Called up share capital |
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Share premium account |
9 |
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Revaluation reserve |
9 |
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Profit and loss account |
9 |
(
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(
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Directors' responsibilities:
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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
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
10 October 2022
, and are signed on behalf of the board by:
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Director |
Company registration number:
SC076335
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Notes to the Financial Statements |
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 26 Hay Street, ELGIN, Moray, IV30 1NQ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Revenue recognition
Income tax
Tangible assets
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:
Equipment and Fittings |
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No depreciation has been charged on freehold property. The directors consider that the residual value of freehold property is at least equal to its net book value, its estimated remaining useful life exceeds 50 years, and any depreciation would therefore be immaterial. In addition, the company employs the policy and practice of regular maintenance and repairs (charges for which are recognised in the profit and loss account) such that the property is kept to its previously assessed standards of performance.
Impairment of fixed assets
Stocks
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
10
(2020:
9
).
5.
Tangible assets
Land and buildings |
Plant and machinery |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2021 and 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
– |
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Charge for the year |
– |
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At 31 December 2021 |
– |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property |
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£ |
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At 31 December 2021 |
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Aggregate cost |
207,064 |
Aggregate depreciation |
– |
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Carrying value |
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At 31 December 2020 |
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Aggregate cost |
207,064 |
Aggregate depreciation |
– |
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Carrying value |
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6.
Debtors
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Interest free loans |
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Staff pension |
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Other creditors |
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Included within creditors falling due within one year is an amount of £6,351 (2020 - £6,093) which is secured by the company.
8.
Creditors:
amounts falling due after more than one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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Included within creditors falling due after more than one year is an amount of £282,037 (2020 - £288,597) which is secured by the company.
Included within creditors: amounts falling due after more than one year is an amount of £253,936 (2020: £261,634) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9.
Reserves
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2021 |
2020 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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11.
Directors' advances, credit and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding |
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2021 |
2020 |
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£ |
£ |
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12.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.