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REGISTERED NUMBER: 03654977 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2023

FOR

F. WITHRINGTON & SONS LIMITED

F. WITHRINGTON & SONS LIMITED (REGISTERED NUMBER: 03654977)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F. WITHRINGTON & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2023







DIRECTORS: M Withrington
Mrs P Withrington





SECRETARY: Mrs P Withrington





REGISTERED OFFICE: 162-164 High Street
Rayleigh
Essex
SS6 7BS





REGISTERED NUMBER: 03654977 (England and Wales)





ACCOUNTANTS: ESW Chartered Accountants
162-164 High Street
Rayleigh
Essex
SS6 7BS

F. WITHRINGTON & SONS LIMITED (REGISTERED NUMBER: 03654977)

BALANCE SHEET
31ST JANUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 22,357 29,008

CURRENT ASSETS
Stocks 665,284 430,206
Debtors 5 4,121 606,060
Cash at bank and in hand 14,373 43,855
683,778 1,080,121
CREDITORS
Amounts falling due within one year 6 (174,870 ) (90,830 )
NET CURRENT ASSETS 508,908 989,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

531,265

1,018,299

CREDITORS
Amounts falling due after more than one
year

7

(501,582

)

(760,182

)

PROVISIONS FOR LIABILITIES 8 (4,240 ) (5,501 )
NET ASSETS 25,443 252,616

CAPITAL AND RESERVES
Called up share capital 9 3,000 6,000
Revaluation reserve 11,733 15,644
Capital redemption reserve (123,308 ) -
Retained earnings 134,018 230,972
SHAREHOLDERS' FUNDS 25,443 252,616

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

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

F. WITHRINGTON & SONS LIMITED (REGISTERED NUMBER: 03654977)

BALANCE SHEET - continued
31ST JANUARY 2023


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 9th October 2023 and were signed on its behalf by:





M Withrington - Director


F. WITHRINGTON & SONS LIMITED (REGISTERED NUMBER: 03654977)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023

1. STATUTORY INFORMATION

F. Withrington & Sons 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 as modified by the revaluation of certain assets.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

F. WITHRINGTON & SONS LIMITED (REGISTERED NUMBER: 03654977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


F. WITHRINGTON & SONS LIMITED (REGISTERED NUMBER: 03654977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st February 2022
and 31st January 2023 22,231 48,893 5,298 76,422
DEPRECIATION
At 1st February 2022 16,457 25,893 5,064 47,414
Charge for year 866 5,750 35 6,651
At 31st January 2023 17,323 31,643 5,099 54,065
NET BOOK VALUE
At 31st January 2023 4,908 17,250 199 22,357
At 31st January 2022 5,774 23,000 234 29,008

Cost or valuation at 31st January 2023 is represented by:

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Valuation in 2022 - 15,644 - 15,644
Cost 22,231 33,249 5,298 60,778
22,231 48,893 5,298 76,422

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 324 600,574
Other debtors 3,797 5,486
4,121 606,060

F. WITHRINGTON & SONS LIMITED (REGISTERED NUMBER: 03654977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,466 13,081
Taxation and social security 2,055 30,569
Other creditors 166,349 47,180
174,870 90,830

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 501,582 760,182

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,240 5,501

Deferred
tax
£   
Balance at 1st February 2022 5,501
Accelerated capital allowances (1,261 )
Balance at 31st January 2023 4,240

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,500 Ordinary 'A' £1 1,500 3,000
(2022 - 3,000 )
1,500 Ordinary 'B' £1 1,500 3,000
(2022 - 3,000 )
3,000 6,000

F. WITHRINGTON & SONS LIMITED (REGISTERED NUMBER: 03654977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31st January 2023 and the period ended 31st January 2022:

2023 2022
£    £   
M Withrington and Mrs P Withrington
Balance outstanding at start of year (102 ) (17 )
Amounts advanced 50,957 44,915
Amounts repaid (51,000 ) (45,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (145 ) (102 )

T Withrington and Mrs J Withrington
Balance outstanding at start of year (102 ) (17 )
Amounts advanced 102 44,915
Amounts repaid - (45,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (102 )

Negative balances detailed above reflect balances due to the company directors and disclosed as part of other creditors to the financial statements.

Interest has been charged at commercial rates on any overdrawn balances during the year.

11. RELATED PARTY DISCLOSURES

The following dividends were paid during the year;

£   

M Withrington 25.000

Mrs P Withrington 26,000


Other creditors include a loans due to family members totalling £463,622 (2022 : £716,777)

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party in both the current and preceding accounting periods was the directors by way of their controlling interest.