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REGISTERED NUMBER: 08409274 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Waverley Brownall Limited

Waverley Brownall Limited (Registered number: 08409274)






Contents of the Financial Statements
for the year ended 31 March 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Waverley Brownall Limited

Company Information
for the year ended 31 March 2022







DIRECTORS: N E Douse
M G S Gibson
J J J McSweeney
R M Sheridan
A I Dobinson
J R Rogers





REGISTERED OFFICE: 45 The Vintners
Temple Farm Industrial Estate
Southend-on-Sea
SS2 5RZ





REGISTERED NUMBER: 08409274 (England and Wales)





ACCOUNTANTS: Macrays Accountants & Business Advisers
Lancaster House
Sopwith Crescent
Shotgate
Wickford
Essex
SS11 8YU

Waverley Brownall Limited (Registered number: 08409274)

Abridged Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 465,703 494,055

CURRENT ASSETS
Stocks 524,342 552,071
Debtors 231,359 552,975
Cash at bank and in hand 522,495 113,020
1,278,196 1,218,066
CREDITORS
Amounts falling due within one year 227,479 243,206
NET CURRENT ASSETS 1,050,717 974,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,516,420

1,468,915

CREDITORS
Amounts falling due after more than one
year

(160,630

)

(92,131

)

PROVISIONS FOR LIABILITIES (70,000 ) (66,000 )
NET ASSETS 1,285,790 1,310,784

Waverley Brownall Limited (Registered number: 08409274)

Abridged Balance Sheet - continued
31 March 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6 1,285,789 1,310,783
1,285,790 1,310,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 September 2022 and were signed on its behalf by:





J J J McSweeney - Director


Waverley Brownall Limited (Registered number: 08409274)

Notes to the Financial Statements
for the year ended 31 March 2022

1. STATUTORY INFORMATION

Waverley Brownall Limited is a private company, limited by shares , registered in England and Wales. 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, 20% on cost and 10% on cost

Government grants
Government grants are recognised as due to the company, when all the conditions for the grant have been met.
Grants that compensate the company for expenses incurred are recognised as income in the periods in which the expenses are recognised.
Capital based grants are included within accruals and deferred income and credited to the trading profit over the expected useful life of the assets concerned.

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

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 balance sheet date.


Waverley Brownall Limited (Registered number: 08409274)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2021 - 17 ) .

Waverley Brownall Limited (Registered number: 08409274)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021 1,416,689
Additions 88,102
Disposals (26,456 )
At 31 March 2022 1,478,335
DEPRECIATION
At 1 April 2021 922,634
Charge for year 92,203
Eliminated on disposal (2,205 )
At 31 March 2022 1,012,632
NET BOOK VALUE
At 31 March 2022 465,703
At 31 March 2021 494,055

5. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 211,920 146,815

Obligations under finance leases and hire purchase contracts are secured on the assets concerned.

6. RESERVES
Retained
earnings
£   

At 1 April 2021 1,310,783
Profit for the year 36,006
Dividends (61,000 )
At 31 March 2022 1,285,789

Waverley Brownall Limited (Registered number: 08409274)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

7. RELATED PARTY DISCLOSURES

During the year, the company paid a management fee of £41,000 (2021: £34,800) to Team Precision Engineering Limited, a company which controls Waverley Brownall H&I Limited, the parent company of Waverley Brownall Limited.
A loan of £330,000 was paid to Waverley Brownall H&I Limited, in the previous year. This was fully repaid by 31st March 2022.