Registered number
08005265
R A Wilkerson Ltd
Filleted Accounts
31 March 2023
R A Wilkerson Ltd
Registered number: 08005265
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 6 5,685 6,849
Current assets
Stocks 41,493 40,850
Debtors 7 5,116 4,617
Cash at bank and in hand 93,685 106,675
140,294 152,142
Creditors: amounts falling due within one year 8 (109,059) (117,412)
Net current assets 31,235 34,730
Total assets less current liabilities 36,920 41,579
Provisions for liabilities (8) (16)
Net assets 36,912 41,563
Capital and reserves
Called up share capital 100 100
Profit and loss account 36,812 41,463
Shareholders' funds 36,912 41,563
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Miller
Director
Approved by the board on 28 September 2023
R A Wilkerson Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Statement of compliance
The financial statements have been prepared in accordance with the Financial Reporting Standard 102 "the Financial Reporting Standard applicable to the UK and Republic of Ireland" including the provisions of Section 1A"Small Entities" and the Companies Act 2006.
2 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxand other sales taxes.
3
Goodwill
Goodwill,being the amount paid in connection with the acquisition of a business in 2012,is being amortised evenly over its estimated useful life of ten years.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to Property 10% on cost
Plant and machinery 20% on reducing balance
Motor vehicles 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and net realisable value,after making due allowance for obsolete and slow moving items.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
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.
4 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
5 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 9,000
Disposals -
At 31 March 2023 9,000
Amortisation
At 1 April 2022 9,000
At 31 March 2023 9,000
Net book value
At 31 March 2023 -
At 31 March 2022 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
6 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 11,281 2,086 5,500 18,867
At 31 March 2023 11,281 2,086 5,500 18,867
Depreciation
At 1 April 2022 4,512 2,007 5,499 12,018
Charge for the year 1,128 35 1 1,164
At 31 March 2023 5,640 2,042 5,500 13,182
Net book value
At 31 March 2023 5,641 44 - 5,685
At 31 March 2022 6,769 79 1 6,849
7 Debtors 2023 2022
£ £
Trade debtors 4,341 4,193
Other debtors 775 424
5,116 4,617
8 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 21,296 24,253
Taxation and social security costs 3,185 6,096
Other creditors 84,578 87,063
109,059 117,412
9 Related party transactions
lncluded in creditors is £82,002 (2022: £84,507) payable to the director. This is interest free and there are no fixed repayment terms.
10 Other information
R A Wilkerson Ltd is a private company limited by shares and incorporated in England. Its registered office is:
27 Old Road
Acle
Norwich
Norfolk
NR13 3QL
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