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 2023
Contents |
Pages |
Statement of financial position |
1 to 2 |
Notes to the financial statements |
3 to 7 |
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Statement of Financial Position |
2023 |
2022 |
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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 (liabilities)/assets |
(
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--------- |
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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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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
18 April 2024
, 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 2023
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
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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Owned: 15% reducing balance, Leased: 20% straight line
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Impairment of fixed assets
Stocks
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2022:
8
).
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 2023 and 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
– |
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Charge for the year |
– |
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At 31 December 2023 |
– |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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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 2023 |
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Aggregate cost |
207,064 |
Aggregate depreciation |
– |
--------- |
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Carrying value |
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At 31 December 2022 |
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Aggregate cost |
207,064 |
Aggregate depreciation |
– |
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Carrying value |
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6.
Debtors
2023 |
2022 |
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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
2023 |
2022 |
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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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Other creditors |
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Included within creditors amounts falling due within one year is an amount of £43,030 (2022 - £8,372) which is secured by standard security and a bond and floating charge over the assets.
8.
Creditors:
amounts falling due after more than one year
2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Included within creditors amounts falling due after more than one year is an amount of £268,516 (2022 - £273,981) which is secured by standard security and a bond and floating charge over the assets.
Included within creditors: amounts falling due after more than one year is an amount of £230,523 (2022: £236,936) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loans are repayable by 29 May 2034. The interest rate applied to the loans is 3.5% above the bank base rate.
9.
Reserves
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023 |
2022 |
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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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Later than 5 years |
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11.
Related party transactions