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REGISTERED NUMBER: 06541519 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

WIGHT MATERIALS HANDLING LIMITED

WIGHT MATERIALS HANDLING LIMITED (REGISTERED NUMBER: 06541519)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

WIGHT MATERIALS HANDLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: K Sykes





SECRETARY:





REGISTERED OFFICE: The Old Service Station
Main Road
Shalfleet
Newport
Isle of Wight
PO30 4ND





REGISTERED NUMBER: 06541519 (England and Wales)





ACCOUNTANTS: Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA

WIGHT MATERIALS HANDLING LIMITED (REGISTERED NUMBER: 06541519)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 896,854 471,554
896,854 471,554

CURRENT ASSETS
Stocks 310,855 320,732
Debtors 6 228,874 172,025
Cash at bank and in hand 227,841 362,403
767,570 855,160
CREDITORS
Amounts falling due within one year 7 175,310 138,308
NET CURRENT ASSETS 592,260 716,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,489,114

1,188,406

CREDITORS
Amounts falling due after more than one
year

8

86,219

-
NET ASSETS 1,402,895 1,188,406

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,401,895 1,187,406
SHAREHOLDERS' FUNDS 1,402,895 1,188,406

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 director acknowledges his 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.

WIGHT MATERIALS HANDLING LIMITED (REGISTERED NUMBER: 06541519)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 9 October 2023 and were signed by:





K Sykes - Director


WIGHT MATERIALS HANDLING LIMITED (REGISTERED NUMBER: 06541519)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 20% 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

WIGHT MATERIALS HANDLING LIMITED (REGISTERED NUMBER: 06541519)

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 14 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 53,770
AMORTISATION
At 1 April 2022
and 31 March 2023 53,770
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant & and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 417,688 59,455 42,535 52,420 572,098
Additions 425,567 - 13,134 - 438,701
At 31 March 2023 843,255 59,455 55,669 52,420 1,010,799
DEPRECIATION
At 1 April 2022 - 39,247 28,257 33,040 100,544
Charge for year - 4,042 5,483 3,876 13,401
At 31 March 2023 - 43,289 33,740 36,916 113,945
NET BOOK VALUE
At 31 March 2023 843,255 16,166 21,929 15,504 896,854
At 31 March 2022 417,688 20,208 14,278 19,380 471,554

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 228,874 172,025

WIGHT MATERIALS HANDLING LIMITED (REGISTERED NUMBER: 06541519)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,838 -
Trade creditors 31,261 45,853
Corporation tax 57,007 30,842
Social security and other taxes - 4,459
VAT 65,726 53,988
Directors' current accounts 1,528 1,216
Accruals and deferred income 1,950 1,950
175,310 138,308

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 86,219 -

9. RELATED PARTY DISCLOSURES

The company traded from the premises owed by K Sykes (director) and paid a market rent of £18,500
in the year (£22,200 in 2022).

This premises was sold to the company by the director at market value in January 2023.

10. ULTIMATE CONTROLLING PARTY

Mr K Sykes has ultimate control of the company, by virtue of his 100% shareholding.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WIGHT MATERIALS HANDLING LIMITED


The following reproduces the text of the report prepared for the director 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 Director 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 Wight Materials Handling Limited for the year ended 31 March 2023 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Wight Materials Handling Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wight Materials Handling Limited and state those matters that we have agreed to state to the director of Wight Materials Handling Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wight Materials Handling Limited and its director for our work or for this report.

It is your duty to ensure that Wight Materials Handling 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 Wight Materials Handling Limited. You consider that Wight Materials Handling 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 Wight Materials Handling 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.






Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA


Date: .............................................