REGISTERED NUMBER: SC287072 (Scotland)

Financial Statements for the Year Ended 31 August 2016

for

A&W Wilson Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A F Wilson

Mrs W Wilson

SECRETARY:

Mrs W Wilson

REGISTERED OFFICE:

Shantlerhill

Maud

Peterhead

ABERDEENSHIRE

AB42 5SJ

REGISTERED NUMBER:

SC287072 (Scotland)

ACCOUNTANTS:

J M Taylor

7 Ythan Terrace

Ellon

ABERDEENSHIRE

AB41 9LJ

FIXED ASSETS

Intangible assets

2

15,750

17,500

Tangible assets

3

582,348

583,941

598,098

601,441

CURRENT ASSETS

Stocks

252,350

181,433

Debtors

4

97,712

100,226

Cash at bank

30,269

40,872

380,331

322,531

CREDITORS

Amounts falling due within one year

5

340,433

293,104

NET CURRENT ASSETS

39,898

29,427

TOTAL ASSETS LESS CURRENT LIABILITIES

637,996

630,868

CREDITORS

Amounts falling due after more than one year

6

(349,938

)

(343,678

)

PROVISIONS FOR LIABILITIES

9

(63,986

)

(67,154

)

NET ASSETS

224,072

220,036

CAPITAL AND RESERVES

Called up share capital

10

100

100

Profit and loss account

11

223,972

219,936

SHAREHOLDERS' FUNDS

224,072

220,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 April 2017 and were signed on its behalf by:

A F Wilson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 10% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2015

and 31 August 2016

35,000

AMORTISATION

At 1 September 2015

17,500

Charge for year

1,750

At 31 August 2016

19,250

NET BOOK VALUE

At 31 August 2016

15,750

At 31 August 2015

17,500

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2015

244,240

647,642

891,882

Additions

-

176,596

176,596

Disposals

-

(99,500

)

(99,500

)

At 31 August 2016

244,240

724,738

968,978

DEPRECIATION

At 1 September 2015

-

307,941

307,941

Charge for year

-

178,189

178,189

Eliminated on disposal

-

(99,500

)

(99,500

)

At 31 August 2016

-

386,630

386,630

NET BOOK VALUE

At 31 August 2016

244,240

338,108

582,348

At 31 August 2015

244,240

339,701

583,941

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2015

495,650

Additions

137,660

At 31 August 2016

633,310

DEPRECIATION

At 1 September 2015

179,355

Charge for year

158,327

At 31 August 2016

337,682

NET BOOK VALUE

At 31 August 2016

295,628

At 31 August 2015

316,295

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.16

31.8.15

£

£

Trade debtors

76,345

97,981

Other debtors

21,367

2,245

97,712

100,226

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.16

31.8.15

£

£

Hire purchase contracts

81,929

63,116

Trade creditors

39,945

23,243

Taxation and social security

47,343

33,298

Other creditors

171,216

173,447

340,433

293,104

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.16

31.8.15

£

£

Hire purchase contracts

174,784

142,712

Other creditors

175,154

200,966

349,938

343,678

31.8.16

31.8.15

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

144,354

152,966

7.

LOANS

An analysis of the maturity of loans is given below:

31.8.16

31.8.15

£

£

Amounts falling due within one year or on demand:

Other loans

7,700

9,600

Amounts falling due between one and two years:

Other loans - 1-2 years

7,700

19,200

Amounts falling due between two and five years:

Other loans - 2-5 years

23,100

28,800

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

144,354

152,966

8.	OPERATING LEASE COMMITMENTS

9.	PROVISIONS FOR LIABILITIES

31.8.16

31.8.15

£

£

Deferred tax

63,986

67,154

Deferred

tax

£

Balance at 1 September 2015

67,154

Provided during year

(3,168

)

Deferred tax movement

Balance at 31 August 2016

63,986

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

£

100

Ordinary

£1.00

100

100

11.

RESERVES

Profit

and loss

account

£

At 1 September 2015

219,936

Profit for the year

45,036

Dividends

(41,000

)

At 31 August 2016

223,972

12.	RELATED PARTY DISCLOSURES

During the period the directors Mr A & Mrs W Wilson advanced the company net amounts totalling £160,151

This amount remained outstanding at 31st August 2016 and is included within Other creditors in the notes to the

accounts.

The directors Mr A & Mrs W Wilson have made a guarantee in relation to the overdraft facility owing to the

Bank by the Borrower.

During the year the directors received net dividends, detailed below, from the company.

Mr Andrew Wilson

- £24,600

Mrs Wilma Wilson

- £16,400

13.	ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the director Mr A Wilson by virtue of his majority 60% holding

in the ordinary share capital of the company.