REGISTERED NUMBER: 11088998 (England and Wales)

Financial Statements for the Year Ended 31st March 2023

for

Wild Wood of Mayfield Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Ritchie

D C Endean

REGISTERED OFFICE:

Newhouse Farm

Northiam

Rye

East Sussex

TN31 6JL

REGISTERED NUMBER:

11088998 (England and Wales)

ACCOUNTANTS:

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

FIXED ASSETS

Tangible assets

4

45,060

56,259

CURRENT ASSETS

Stocks

89,885

120,078

Debtors

5

134,421

194,103

Cash at bank

13,555

14,845

237,861

329,026

CREDITORS

Amounts falling due within one year

6

239,210

301,448

NET CURRENT (LIABILITIES)/ASSETS

(1,349

)

27,578

TOTAL ASSETS LESS CURRENT LIABILITIES

43,711

83,837

CREDITORS

Amounts falling due after more than one year

7

(48,383

)

(67,310

)

PROVISIONS FOR LIABILITIES

(8,486

)

(8,113

)

NET (LIABILITIES)/ASSETS

(13,158

)

8,414

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(13,258

)

8,314

SHAREHOLDERS' FUNDS

(13,158

)

8,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 3rd October 2023 and were signed on its behalf by:

D C Endean - Director

1.	STATUTORY INFORMATION

Wild Wood of Mayfield 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on reducing balance

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.

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

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 12 (2022 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2022

93,573

Additions

406

At 31st March 2023

93,979

DEPRECIATION

At 1st April 2022

37,314

Charge for year

11,605

At 31st March 2023

48,919

NET BOOK VALUE

At 31st March 2023

45,060

At 31st March 2022

56,259

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

Plant and

machinery

etc

£

COST

At 1st April 2022

80,330

Transfer to ownership

(16,120

)

At 31st March 2023

64,210

DEPRECIATION

At 1st April 2022

31,569

Charge for year

8,241

Transfer to ownership

(8,565

)

At 31st March 2023

31,245

NET BOOK VALUE

At 31st March 2023

32,965

At 31st March 2022

48,761

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

98,571

178,053

Other debtors and prepayments

35,850

16,050

134,421

194,103

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

24,171

11,261

Hire purchase contracts

9,325

15,299

Trade creditors

59,568

114,909

Corporation Tax

31,225

34,172

Social security and other taxes

91,138

100,406

Other creditors and accruals

23,783

25,401

239,210

301,448

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

26,667

36,667

Hire purchase contracts

21,716

30,643

48,383

67,310

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

31,041

45,942

The amounts due on hire purchase contracts are secured on the assets concerned.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors.