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REGISTERED NUMBER: 03737596 (England and Wales)















M J Wright & Sons Limited

Unaudited Financial Statements for the Year Ended 31 March 2023






M J Wright & Sons Limited (Registered number: 03737596)

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

Report of the Accountants 8

M J Wright & Sons Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: B M Wright





SECRETARY: B M Wright





REGISTERED OFFICE: 2 Peasbrook
Orchard Cottage
Cheltenham Road
Broadway
Worcestershire
WR12 7LX





REGISTERED NUMBER: 03737596 (England and Wales)





ACCOUNTANTS: D & S Plumb Accountants Limited
19 A/B Blackwell Bus. Park
Blackwell
Shipston-on-Stour
Warwickshire
CV36 4PE

M J Wright & Sons Limited (Registered number: 03737596)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 364,952 344,202

CURRENT ASSETS
Stocks 69,528 75,320
Debtors 5 140,309 140,725
Cash at bank 60,615 52,293
270,452 268,338
CREDITORS
Amounts falling due within one year 6 210,030 183,378
NET CURRENT ASSETS 60,422 84,960
TOTAL ASSETS LESS CURRENT
LIABILITIES

425,374

429,162

CREDITORS
Amounts falling due after more than one year 7 (187,652 ) (196,574 )

PROVISIONS FOR LIABILITIES (65,790 ) (61,265 )
NET ASSETS 171,932 171,323

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 170,932 170,323
SHAREHOLDERS' FUNDS 171,932 171,323

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.

M J Wright & Sons Limited (Registered number: 03737596)

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 22 December 2023 and were signed by:





B M Wright - Director


M J Wright & Sons Limited (Registered number: 03737596)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

M J Wright & Sons 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance, 15% on reducing balance, 10% on reducing balance and Straight line over 3 years

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

M J Wright & Sons Limited (Registered number: 03737596)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Office
to Plant and equipment
property machinery & furnishings
£    £    £   
COST
At 1 April 2022 40,663 761,793 4,959
Additions - 33,532 -
At 31 March 2023 40,663 795,325 4,959
DEPRECIATION
At 1 April 2022 13,779 462,374 1,674
Charge for year 4,033 31,907 328
At 31 March 2023 17,812 494,281 2,002
NET BOOK VALUE
At 31 March 2023 22,851 301,044 2,957
At 31 March 2022 26,884 299,419 3,285

M J Wright & Sons Limited (Registered number: 03737596)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 36,791 2,596 846,802
Additions 30,577 1,005 65,114
At 31 March 2023 67,368 3,601 911,916
DEPRECIATION
At 1 April 2022 22,177 2,596 502,600
Charge for year 8,017 79 44,364
At 31 March 2023 30,194 2,675 546,964
NET BOOK VALUE
At 31 March 2023 37,174 926 364,952
At 31 March 2022 14,614 - 344,202

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 137,926 28,792 166,718
Additions - 30,577 30,577
At 31 March 2023 137,926 59,369 197,295
DEPRECIATION
At 1 April 2022 20,469 15,521 35,990
Charge for year 11,746 7,748 19,494
At 31 March 2023 32,215 23,269 55,484
NET BOOK VALUE
At 31 March 2023 105,711 36,100 141,811
At 31 March 2022 117,457 13,271 130,728

M J Wright & Sons Limited (Registered number: 03737596)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 101,724 87,556
Other debtors 38,585 53,169
140,309 140,725

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 30,300 23,589
Trade creditors 103,561 89,077
Taxation and social security 26,311 27,303
Other creditors 49,858 43,409
210,030 183,378

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 57,652 66,574
Other creditors 130,000 130,000
187,652 196,574

M J Wright & Sons Limited

Report of the Accountants to the Director of
M J Wright & Sons 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






D & S Plumb Accountants Limited
19 A/B Blackwell Bus. Park
Blackwell
Shipston-on-Stour
Warwickshire
CV36 4PE


22 December 2023