IRIS Accounts Production v23.2.0.158 01165723 Board of Directors Board of Directors Board of Directors 1.5.22 30.4.23 30.4.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure011657232022-04-30011657232023-04-30011657232022-05-012023-04-30011657232021-04-30011657232021-05-012022-04-30011657232022-04-3001165723ns16:EnglandWales2022-05-012023-04-3001165723ns15:PoundSterling2022-05-012023-04-3001165723ns11:Director12022-05-012023-04-3001165723ns11:Director22022-05-012023-04-3001165723ns11:Director32022-05-012023-04-3001165723ns11:PrivateLimitedCompanyLtd2022-05-012023-04-3001165723ns11:SmallEntities2022-05-012023-04-3001165723ns11:AuditExempt-NoAccountantsReport2022-05-012023-04-3001165723ns11:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3001165723ns11:SmallCompaniesRegimeForAccounts2022-05-012023-04-3001165723ns11:FullAccounts2022-05-012023-04-3001165723ns11:OrdinaryShareClass12022-05-012023-04-3001165723ns6:CurrentFinancialInstruments2023-04-3001165723ns6:CurrentFinancialInstruments2022-04-3001165723ns6:Non-currentFinancialInstruments2023-04-3001165723ns6:Non-currentFinancialInstruments2022-04-3001165723ns6:ShareCapital2023-04-3001165723ns6:ShareCapital2022-04-3001165723ns6:RevaluationReserve2023-04-3001165723ns6:RevaluationReserve2022-04-3001165723ns6:RetainedEarningsAccumulatedLosses2023-04-3001165723ns6:RetainedEarningsAccumulatedLosses2022-04-3001165723ns11:RegisteredOffice2022-05-012023-04-3001165723ns6:LandBuildings2022-04-3001165723ns6:PlantMachinery2022-04-3001165723ns6:LandBuildings2022-05-012023-04-3001165723ns6:PlantMachinery2022-05-012023-04-3001165723ns6:LandBuildings2023-04-3001165723ns6:PlantMachinery2023-04-3001165723ns6:LandBuildings2022-04-3001165723ns6:PlantMachinery2022-04-3001165723ns6:CostValuation2022-04-3001165723ns6:WithinOneYearns6:CurrentFinancialInstruments2023-04-3001165723ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-3001165723ns6:Secured2023-04-3001165723ns6:Secured2022-04-3001165723ns11:OrdinaryShareClass12023-04-30
REGISTERED NUMBER: 01165723 (England and Wales)










R.M. WEARE AND COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023






R.M. WEARE AND COMPANY LIMITED (REGISTERED NUMBER: 01165723)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 7


R.M. WEARE AND COMPANY LIMITED (REGISTERED NUMBER: 01165723)

BALANCE SHEET
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 223,630 105,725
Investments 5 100 100
223,730 105,825

CURRENT ASSETS
Stocks 999,054 897,086
Debtors 6 157,931 145,750
Cash at bank and in hand 3,010 116,614
1,159,995 1,159,450
CREDITORS
Amounts falling due within one year 7 160,528 137,425
NET CURRENT ASSETS 999,467 1,022,025
TOTAL ASSETS LESS CURRENT LIABILITIES 1,223,197 1,127,850

CREDITORS
Amounts falling due after more than one year 8 (30,303 ) (44,848 )

PROVISIONS FOR LIABILITIES (9,658 ) (10,080 )
NET ASSETS 1,183,236 1,072,922

CAPITAL AND RESERVES
Called up share capital 10 20,001 20,001
Revaluation reserve 11 122,041 -
Retained earnings 1,041,194 1,052,921
SHAREHOLDERS' FUNDS 1,183,236 1,072,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

R.M. WEARE AND COMPANY LIMITED (REGISTERED NUMBER: 01165723)

BALANCE SHEET - continued
30TH APRIL 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 21st August 2023 and were signed on its behalf by:




J C Tolliss - Director H J Howarth - Director




M L Michallat - Director


R.M. WEARE AND COMPANY LIMITED (REGISTERED NUMBER: 01165723)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023


1. STATUTORY INFORMATION

R.M. Weare and Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01165723

Registered office: 3365 Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB

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.

These accounts have been prepared on the going concern basis, on the understanding that the directors, shareholders and the bank will continue to financially support the company.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings 2% straight line
Plant and machinery10% straight line
Fixtures and fittings 15% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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


R.M. WEARE AND COMPANY LIMITED (REGISTERED NUMBER: 01165723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

R.M. WEARE AND COMPANY LIMITED (REGISTERED NUMBER: 01165723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st May 2022 122,762 165,374 288,136
Additions - 5,733 5,733
Revaluations 62,238 - 62,238
At 30th April 2023 185,000 171,107 356,107
DEPRECIATION
At 1st May 2022 57,348 125,063 182,411
Charge for year 2,455 7,414 9,869
Revaluation adjustments (59,803 ) - (59,803 )
At 30th April 2023 - 132,477 132,477
NET BOOK VALUE
At 30th April 2023 185,000 38,630 223,630
At 30th April 2022 65,414 40,311 105,725

Cost or valuation at 30th April 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 62,238 - 62,238
Cost 122,762 171,107 293,869
185,000 171,107 356,107

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st May 2022
and 30th April 2023 100
NET BOOK VALUE
At 30th April 2023 100
At 30th April 2022 100

R.M. WEARE AND COMPANY LIMITED (REGISTERED NUMBER: 01165723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 151,140 137,345
Other debtors 6,791 8,405
157,931 145,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 58,870 14,545
Trade creditors 55,863 39,992
Taxation and social security 37,378 56,864
Other creditors 8,417 26,024
160,528 137,425

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 30,303 44,848

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 44,325 -
Bank loans 44,848 59,393
89,173 59,393

The bank overdraft facility and loan are secured against the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20,001 Ordinary £1 20,001 20,001

R.M. WEARE AND COMPANY LIMITED (REGISTERED NUMBER: 01165723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


11. RESERVES
Revaluation
reserve
£   
No description 122,041

At 30th April 2023 122,041

12. CONTROLLING PARTY

The entire issued share capital of the company is owned by the "R.M. Weare and Company Limited Employee Benefit Trust" [the Trust]. Accordingly, the Trust is considered to be the controlling party.

The company originally transferred £10 to the Trust for the purpose of establishing and promoting an employee trust in order to encourage the loyal service of its employees. On 15th August 2001 Mr Richard Massey Weare transferred his shares, representing the entire share capital of the company, to the Trust.

The trustees of the Trust are currently the three directors and one ex-director of the company, whilst the beneficiaries are:

(i) any employee or former employee of the company

(ii) the relatives of any employee or former employee

(iii) any charitable body