W I & A Gilbert Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC246241 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

W I & A GILBERT LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Gilbert

Mrs J L Gilbert

A I Gilbert

W I Gilbert

SECRETARY:

Mrs J L Gilbert

REGISTERED OFFICE:

Kersland

Dalry

Ayrshire

South Ayrshire

KA24 4JA

REGISTERED NUMBER:

SC246241 (Scotland)

ACCOUNTANTS:

SD Business Management

Suite 411 Baltic Chambers

50 Wellington Street

Glasgow

Strathclyde

G2 6HJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

533,415

476,801

533,415

476,801

CURRENT ASSETS

Stocks

144,800

86,530

Debtors

1,905,651

1,358,970

Cash at bank

1,111,948

1,389,739

3,162,399

2,835,239

CREDITORS

Amounts falling due within one year

1,599,325

1,446,335

NET CURRENT ASSETS

1,563,074

1,388,904

TOTAL ASSETS LESS CURRENT LIABILITIES

2,096,489

1,865,705

PROVISIONS FOR LIABILITIES

101,349

90,638

NET ASSETS

1,995,140

1,775,067

CAPITAL AND RESERVES

Called up share capital

400,000

400,000

Other reserves

498,782

498,782

Retained earnings

1,096,358

876,285

SHAREHOLDERS' FUNDS

1,995,140

1,775,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2022 and were signed on its behalf by:

D Gilbert - Director

1.	STATUTORY INFORMATION

W I & A Gilbert 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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

-

20% on reducing balance

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% 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 46 (2021 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

and 31 March 2022

300,000

AMORTISATION

At 1 April 2021

and 31 March 2022

300,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

1,361,191

Additions

227,263

Disposals

(24,384

)

At 31 March 2022

1,564,070

DEPRECIATION

At 1 April 2021

884,390

Charge for year

163,549

Eliminated on disposal

(17,284

)

At 31 March 2022

1,030,655

NET BOOK VALUE

At 31 March 2022

533,415

At 31 March 2021

476,801