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REGISTERED NUMBER: 05154467 (England and Wales)














WM FENCING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






WM FENCING LIMITED (REGISTERED NUMBER: 05154467)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

WM FENCING LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: Mrs N A Murphy
W A Murphy





SECRETARY: Mrs N A Murphy





REGISTERED OFFICE: Maybrook Industrial Estate
Maybrook Road
Walsall
West Midlands
WS8 7DG





REGISTERED NUMBER: 05154467 (England and Wales)





ACCOUNTANTS: Equus Miller Limited
Chartered Certified Accountants
Brook House
47 High Street
Henley in Arden
Warwickshire
B95 5AA

WM FENCING LIMITED (REGISTERED NUMBER: 05154467)

BALANCE SHEET
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 340,678 354,170

CURRENT ASSETS
Stocks 5 42,645 38,240
Debtors 6 620,557 509,811
Cash at bank 318,443 347,288
981,645 895,339
CREDITORS
Amounts falling due within one year 7 316,610 300,256
NET CURRENT ASSETS 665,035 595,083
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,005,713

949,253

CREDITORS
Amounts falling due after more than one
year

8

(159,202

)

(204,566

)

PROVISIONS FOR LIABILITIES (20,837 ) (21,347 )
NET ASSETS 825,674 723,340

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 825,672 723,338
SHAREHOLDERS' FUNDS 825,674 723,340

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:




W A Murphy - Director


WM FENCING LIMITED (REGISTERED NUMBER: 05154467)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

WM Fencing 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 represents net invoiced sales of goods and services, excluding value added tax.

Turnover has been recognised in accordance with Urgent Issues Task Force Abstract 40, application note G. Provided that the outcome of contracts can be assessed with reasonable certainty, the revenues and costs on such contracts are recognised based on the stage of completion and the overall contract profitability. Full provision is made on estimated losses to completion of contracts having regard to the overall substance of the arrangement.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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 Statement of Income and Retained Earnings, 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.

WM FENCING LIMITED (REGISTERED NUMBER: 05154467)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 262,217 94,581 30,639 369,745 757,182
Additions - - - 30,094 30,094
Disposals - - - (37,231 ) (37,231 )
At 31 March 2023 262,217 94,581 30,639 362,608 750,045
DEPRECIATION
At 1 April 2022 27,898 77,428 26,004 271,682 403,012
Charge for year 3,306 4,288 1,158 31,107 39,859
Eliminated on disposal - - - (33,504 ) (33,504 )
At 31 March 2023 31,204 81,716 27,162 269,285 409,367
NET BOOK VALUE
At 31 March 2023 231,013 12,865 3,477 93,323 340,678
At 31 March 2022 234,319 17,153 4,635 98,063 354,170

Included in cost of land and buildings is freehold land of £ 103,920 (2022 - £ 103,920 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 60,996
Transfer to ownership (16,000 )
At 31 March 2023 44,996
DEPRECIATION
At 1 April 2022 15,249
Charge for year 8,436
Transfer to ownership (4,000 )
At 31 March 2023 19,685
NET BOOK VALUE
At 31 March 2023 25,311
At 31 March 2022 45,747

5. STOCKS
31/3/23 31/3/22
£    £   
Stocks 42,645 38,240

WM FENCING LIMITED (REGISTERED NUMBER: 05154467)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 549,268 450,186
Amounts owed by related company 38,612 29,888
Other debtors 1,040 1,040
VAT 18,304 17,331
Prepayments and accrued income 13,333 11,366
620,557 509,811

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Hire purchase contracts 12,081 26,579
Trade creditors 170,083 161,030
Corporation tax payable 105,381 72,426
Social security & other taxes 15,197 17,954
Other creditors 1,275 1,665
Wages control - 7,870
Directors' loan accounts 4,418 4,992
Accrued expenses 8,175 7,740
316,610 300,256

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans - 2-5 years 159,202 204,566

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Retained
earnings
£   

At 1 April 2022 723,338
Profit for the year 452,334
Dividends (350,000 )
At 31 March 2023 825,672

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WM FENCING LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WM Fencing Limited for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of WM Fencing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of WM Fencing Limited and state those matters that we have agreed to state to the Board of Directors of WM Fencing Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that WM Fencing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WM Fencing Limited. You consider that WM Fencing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of WM Fencing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Equus Miller Limited
Chartered Certified Accountants
Brook House
47 High Street
Henley in Arden
Warwickshire
B95 5AA


10 November 2023