John Wilson & Sons (Glaziers) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC093654 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

FOR

JOHN WILSON & SONS (GLAZIERS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K Wilson

SECRETARY:

M A Wilson

REGISTERED OFFICE:

87 Millarbank Street

Glasgow

G21 1BT

REGISTERED NUMBER:

SC093654 (Scotland)

ACCOUNTANTS:

Bannerman Johnstone Maclay

Chartered Accountants

213 St Vincent Street

Glasgow

G2 5QY

BANKERS:

The Royal Bank of Scotland plc

Glasgow Charing Cross West Branch

9 Clifton Place

Glasgow

G3 7JU

SOLICITORS:

Miller Beckett & Jackson

190 St. Vincent Street

Glasgow

G2 5SP

FIXED ASSETS

Tangible assets

4

314

471

CURRENT ASSETS

Stocks

500

500

Debtors

5

20,345

2,227

Cash at bank

17,063

25,443

37,908

28,170

CREDITORS

Amounts falling due within one year

6

24,330

15,943

NET CURRENT ASSETS

13,578

12,227

TOTAL ASSETS LESS CURRENT LIABILITIES

13,892

12,698

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Capital redemption reserve

17,000

17,000

Retained earnings

(6,108

)

(7,302

)

SHAREHOLDERS' FUNDS

13,892

12,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 March 2022 and were signed by:

K Wilson - Director

1.	STATUTORY INFORMATION

John Wilson & Sons (Glaziers) 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.

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 etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including certain creditors and loans from related undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

65,663

DEPRECIATION

At 1 July 2020

65,192

Charge for year

157

At 30 June 2021

65,349

NET BOOK VALUE

At 30 June 2021

314

At 30 June 2020

471

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

12,115

2,227

Other debtors

8,230

-

20,345

2,227

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

17,170

7,160

Taxation and social security

6,310

5,326

Other creditors

850

3,457

24,330

15,943