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 2021





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 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wyvis Stocker Limited

Company Information
for the Year Ended 31 March 2021







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 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,600 2,600
Investment property 5 300,000 290,000
302,600 292,600

CURRENT ASSETS
Debtors 6 49,705 49,705
Cash at bank 56,792 82,316
106,497 132,021
CREDITORS
Amounts falling due within one year 7 2,903 1,910
NET CURRENT ASSETS 103,594 130,111
TOTAL ASSETS LESS CURRENT
LIABILITIES
406,194
422,711

PROVISIONS FOR LIABILITIES 7,013 5,113
NET ASSETS 399,181 417,598

CAPITAL AND RESERVES
Called up share capital 140 140
Fair value reserve 8 37,067 28,967
Retained earnings 361,974 388,491
SHAREHOLDERS' FUNDS 399,181 417,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 2021


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 3 September 2021 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 2021

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 2021

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 (2020 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2020
and 31 March 2021 2,600
NET BOOK VALUE
At 31 March 2021 2,600
At 31 March 2020 2,600

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2020 290,000
Revaluations 10,000
At 31 March 2021 300,000
NET BOOK VALUE
At 31 March 2021 300,000
At 31 March 2020 290,000

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

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

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 2021 is represented by:
£   
Valuation in 2020 34,080
Valuation in 2021 10,000
Cost 255,920
300,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed by group undertakings 49,705 49,705

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Taxation and social security 1,990 1,070
Other creditors 913 840
2,903 1,910

8. RESERVES
Fair
value
reserve
£   
At 1 April 2020 28,967
Transfer in year 8,100

At 31 March 2021 37,067

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