CWP Erskine Limited Filleted accounts for Companies House (small and micro)

CWP ERSKINE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC643997

CWP Erskine Limited

Filleted Unaudited Financial Statements

For the year ended

31 October 2021

CWP Erskine Limited

Statement of Financial Position

31 October 2021

	2021		2020
Note	£	£	£

Current assets

Stocks		136,055	135,485
Debtors	4	780	100
Cash at bank and in hand		36,211	45,788
		---------	---------
		173,046	181,373

Creditors: amounts falling due within one year	5	( 148,281)		( 142,287)
		---------		---------
Net current assets			24,765	39,086
			--------	--------
Total assets less current liabilities			24,765	39,086

Creditors: amounts falling due after more than one year	6	( 36,667)	( 45,833)
		--------	--------
Net liabilities		( 11,902)	( 6,747)
		--------	--------

Capital and reserves

Called up share capital	7	100	100
Profit and loss account		( 12,002)	( 6,847)
		--------	-------
Shareholders deficit		( 11,902)	( 6,747)
		--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 27 January 2022 , and are signed on behalf of the board by:

Mr B C Weir
Director

Company registration number: SC643997

CWP Erskine Limited

Notes to the Financial Statements

Year ended 31 October 2021

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 37 One, George Street, Edinburgh, EH2 2HN, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Going Concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.

4. Debtors

	2021	2020
	£	£
Other debtors	780	100
	----	----

5. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	10,000	4,167
Trade creditors	5,357	5,357
Social security and other taxes	–	169
Other creditors	132,924	132,594
	---------	---------
	148,281	142,287
	---------	---------

6. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	36,667	45,833
	--------	--------

7. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

8. Related party transactions

As at 31 October 2021, the company owed £130,593 (2020:£130,593) to Bruce Weir Holdings Limited, a company in which the director, B C Weir, is also a director. The loan is interest free and repayable on demand.