Pottie Wilson Limited - Accounts to registrar (filleted) - small 18.2

Pottie Wilson Limited - Accounts to registrar (filleted) - small 18.2

POTTIE WILSON LIMITED - Company Information

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REGISTERED NUMBER: SC226522 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2020

FOR

POTTIE WILSON LIMITED
POTTIE WILSON LIMITED (REGISTERED NUMBER: SC226522)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


POTTIE WILSON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2020







DIRECTORS: A Smith
M Armstrong





SECRETARY: Ms J Aitken





REGISTERED OFFICE: 19B Graham Street
Edinburgh
EH6 5QN





REGISTERED NUMBER: SC226522 (Scotland)





ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU
Page 1
POTTIE WILSON LIMITED (REGISTERED NUMBER: SC226522)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2020

31.1.20 31.1.19
Notes £    £   
CURRENT ASSETS
Debtors 5 49,867 126,626
Cash at bank and in hand 127,035 122,066
176,902 248,692
CREDITORS
Amounts falling due within one year 6 46,345 63,042
NET CURRENT ASSETS 130,557 185,650
TOTAL ASSETS LESS CURRENT
LIABILITIES
130,557
185,650

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 130,456 185,549
SHAREHOLDERS' FUNDS 130,557 185,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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.

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 4 September 2020 and were signed on its behalf by:




M Armstrong - Director



A Smith - Director


The notes form part of these financial statements

Page 2
POTTIE WILSON LIMITED (REGISTERED NUMBER: SC226522)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020

1. STATUTORY INFORMATION

Pottie Wilson 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue from services are recognised when services have been provided and the right to consideration has been earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice price.

Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Page 3 continued...
POTTIE WILSON LIMITED (REGISTERED NUMBER: SC226522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2020

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2019
and 31 January 2020 2,980 6,600 9,580
DEPRECIATION
At 1 February 2019
and 31 January 2020 2,980 6,600 9,580
NET BOOK VALUE
At 31 January 2020 - - -
At 31 January 2019 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.20 31.1.19
£    £   
Trade debtors 22,290 77,191
Amounts recoverable on contract 26,247 48,355
Other debtors 1,330 1,080
49,867 126,626

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.20 31.1.19
£    £   
Trade creditors 2,601 14,146
Taxation and social security 41,559 47,296
Other creditors 2,185 1,600
46,345 63,042

Page 4 continued...
POTTIE WILSON LIMITED (REGISTERED NUMBER: SC226522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2020

7. OTHER FINANCIAL COMMITMENTS

As at 31 January 2020 the company has future total operating lease commitments of £32,629.

8. ULTIMATE CONTROLLING PARTY

The controlling party is PWP Holdings Ltd -19B GrahamStreet, Edinburgh, EH6 5QN.

Page 5