Company Registration No. 00213854 (England and Wales)
WILKINSON AND SCOTT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
31 March 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
WILKINSON AND SCOTT LIMITED
COMPANY INFORMATION
Directors
Mr I J Lewis
(Appointed 31 May 2022)
Mr G Sidebottom
(Appointed 5 August 2022)
Company number
00213854
Registered office
58 Nelson Street
Bradford
West Yorkshire
BD5 0DZ
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
WILKINSON AND SCOTT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WILKINSON AND SCOTT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,840
20,579
Current assets
Stocks
122,741
139,949
Debtors
4
816,166
216,087
Cash at bank and in hand
79,053
306,505
1,017,960
662,541
Creditors: amounts falling due within one year
5
(515,917)
(224,567)
Net current assets
502,043
437,974
Total assets less current liabilities
517,883
458,553
Provisions for liabilities
(3,386)
(3,399)
Net assets
514,497
455,154
Capital and reserves
Called up share capital
2,340
2,340
Capital redemption reserve
3,660
3,660
Profit and loss reserves
508,497
449,154
Total equity
514,497
455,154

The notes on pages 3 to 6 form part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

WILKINSON AND SCOTT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 November 2023 and are signed on its behalf by:
Mr I J Lewis
Director
Company Registration No. 00213854
WILKINSON AND SCOTT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Wilkinson and Scott Limited is a private company limited by shares incorporated in England and Wales. The registered office is 58 Nelson Street, Bradford, West Yorkshire, BD5 0DZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

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

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

WILKINSON AND SCOTT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
4
WILKINSON AND SCOTT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2022
19,739
85,273
35,121
4,664
60,308
205,105
Additions
-
0
-
0
180
-
0
-
0
180
Disposals
-
0
-
0
-
0
-
0
(285)
(285)
At 31 March 2023
19,739
85,273
35,301
4,664
60,023
205,000
Depreciation and impairment
At 1 April 2022
17,049
80,421
35,030
4,656
47,370
184,526
Depreciation charged in the year
395
1,213
68
8
3,235
4,919
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(285)
(285)
At 31 March 2023
17,444
81,634
35,098
4,664
50,320
189,160
Carrying amount
At 31 March 2023
2,295
3,639
203
-
0
9,703
15,840
At 31 March 2022
2,690
4,852
91
8
12,938
20,579
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
361,743
206,757
Amounts owed by group undertakings
443,353
-
0
Other debtors
11,070
9,330
816,166
216,087
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
255,066
143,781
Taxation and social security
86,076
70,777
Other creditors
174,775
10,009
515,917
224,567
WILKINSON AND SCOTT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Secured debt

Included in other creditors are amounts owed under invoice finance totalling £122,025.

 

These amounts are secured on the trade debt of the company.

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