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Registration number: 07487995

Wilkins & Sharpe Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Wilkins & Sharpe Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Wilkins & Sharpe Limited

Company Information

Directors

Dr C Sharpe

Dr C J Wilkins

Mr J J Wilkins

Registered office

36 Brantwood Road
Herne Hill
London
SE24 0DJ

Accountants

Affinity Associates (Flemmings) Limited
(Trading as Flemmings)
Chartered Accountant
76 Canterbury Road
Croydon
Surrey
CR0 3HA

 

Wilkins & Sharpe Limited

(Registration number: 07487995)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Intangible assets

4

 

101,250

 

112,500

Tangible assets

5

 

14,015

 

27,758

   

115,265

 

140,258

Current assets

   

 

Debtors

6

372,359

 

384,111

 

Cash at bank and in hand

 

363,263

 

163,724

 

 

735,622

 

547,835

 

Creditors: Amounts falling due within one year

7

(40,593)

 

(14,091)

 

Net current assets

   

695,029

 

533,744

Total assets less current liabilities

   

810,294

 

674,002

Provisions for liabilities

 

(3,714)

 

(5,311)

Net assets

   

806,580

 

668,691

Capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

806,578

 

668,689

 

Shareholders' funds

   

806,580

 

668,691

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
 

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 November 2023 and signed on its behalf by:
 

.........................................
Dr C J Wilkins
Director

 

Wilkins & Sharpe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
36 Brantwood Road
Herne Hill
London
SE24 0DJ
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Pound Sterling, which is the functional currency of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
i. The amount of revenue can be reliably measured;
ii. it is probable that future economic benefits will flow to the entity;
iii. and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.


Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Wilkins & Sharpe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, Fittings and Office Equipment

25% Straight Line Method

Motor Vehicles

25% Straight Line Method

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 20 years

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2022

225,000

225,000

At 30 April 2023

225,000

225,000

Amortisation

At 1 May 2022

112,500

112,500

Amortisation charge

11,250

11,250

At 30 April 2023

123,750

123,750

Carrying amount

At 30 April 2023

101,250

101,250

At 30 April 2022

112,500

112,500

 

Wilkins & Sharpe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

7,517

48,990

56,507

Disposals

(159)

-

(159)

At 30 April 2023

7,358

48,990

56,348

Depreciation

At 1 May 2022

4,254

24,495

28,749

Charge for the year

1,456

12,248

13,704

Eliminated on disposal

(120)

-

(120)

At 30 April 2023

5,590

36,743

42,333

Carrying amount

At 30 April 2023

1,768

12,247

14,015

At 30 April 2022

3,263

24,495

27,758

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

1,880

9,221

Amounts owed by related parties

8

268,877

271,661

Accrued income

 

14,017

14,940

Other receivables

 

87,585

88,289

   

372,359

384,111

 

Wilkins & Sharpe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

586

-

Other creditors

470

385

Corporation tax

39,537

13,706

40,593

14,091

8

Related party transactions

Other transactions with directors

During the year the company made the following related party transactions:

Dr C J Wilkins, Dr C Sharpe and Mr J J Wilkins
(Directors and/or Shareholders)

Dividends amounting to £3,000 each were paid to Dr C J Wilkins and Dr C Sharpe during the year (2022 - £4,000).

Interest at the HMRC Official Rate amounting to £5,478 was charged to and paid by the directors in respect of the overdrawn directors current accounts. At the balance sheeet date the amount due from Dr C J Wilkins, Dr C Sharpe and J J Wilkins was £268,877 (2022 - £271,661).