Company Registration No. 4364370 (England and Wales)
Wroxton Limited
Unaudited accounts
for the year ended 31 March 2023
Wroxton Limited
Unaudited accounts
Contents
Wroxton Limited
Company Information
for the year ended 31 March 2023
Directors
Christine McDonagh
Kieran McDonagh
Mitchell McDonagh
Company Number
4364370 (England and Wales)
Registered Office
Unit 16
Redfields Industrial Park
Fleet
GU52 0RD
United Kingdom
Accountants
Blue Cube Accountants Limited
Britwell Grange
Britwell Road
Burnham
SL1 8DF
Wroxton Limited
Statement of financial position
as at 31 March 2023
Tangible assets
427,002
471,837
Debtors
1,826,374
1,648,501
Cash at bank and in hand
57,008
284
Creditors: amounts falling due within one year
(1,083,242)
(639,089)
Net current assets
820,140
1,024,196
Total assets less current liabilities
1,294,748
1,543,639
Creditors: amounts falling due after more than one year
(208,216)
(251,647)
Provisions for liabilities
Deferred tax
(65,791)
(14,590)
Net assets
1,020,741
1,277,402
Called up share capital
1,020
32
Profit and loss account
1,019,721
1,277,370
Shareholders' funds
1,020,741
1,277,402
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by
Mitchell McDonagh
Director
Company Registration No. 4364370
Wroxton Limited
Notes to the Accounts
for the year ended 31 March 2023
Wroxton Limited is a private company, limited by shares, registered in England and Wales, registration number 4364370. The registered office is Unit 16, Redfields Industrial Park , Fleet, GU52 0RD, United Kingdom.
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
Wroxton Limited is both a parent and a subsidiary and the group qualifies as a small group.
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation provided
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Investments in subsidiary undertakings are recognised at cost.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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 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.
Wroxton Limited
Notes to the Accounts
for the year ended 31 March 2023
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the profit & loss account in the period to which they relate.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
3
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
163,838
209,662
571,905
945,405
Additions
-
85
36,055
36,140
At 31 March 2023
163,838
209,747
607,960
981,545
At 1 April 2022
-
108,556
365,012
473,568
Charge for the year
-
20,238
60,737
80,975
At 31 March 2023
-
128,794
425,749
554,543
At 31 March 2023
163,838
80,953
182,211
427,002
At 31 March 2022
163,838
101,106
206,893
471,837
4
Investments
Subsidiary undertakings
Valuation at 1 April 2022
47,606
Valuation at 31 March 2023
47,606
Amounts falling due within one year
Trade debtors
53,521
9,791
Amounts due from group undertakings etc.
1,084,645
830,360
Accrued income and prepayments
605,655
652,999
Other debtors
1,155
80,487
Wroxton Limited
Notes to the Accounts
for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,200
28,987
Obligations under finance leases and hire purchase contracts
64,021
57,120
Trade creditors
382,729
404,783
Amounts owed to group undertakings and other participating interests
191,662
141,662
Taxes and social security
105,613
-
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
122,720
165,692
Aggregate of amounts that fall due for payment after five years
68,696
72,896
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
12
10 B shares of £1 each
10
10
10 C shares of £1 each
10
10
Shares issued during the period:
988 Ordinary shares of £1 each
988
9
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
64,021
57,120
Later than one year and not later than five years
122,720
165,692
Wroxton Limited
Notes to the Accounts
for the year ended 31 March 2023
10
Transactions with related parties
Included in debtors is £84,398 owed from Vision Brickwork Services Limited, in 2022 this was £65,261 owed to the company. The company is partly owned by the directors.
Included in debtors is £1,000,247 (2022 - £1,693,365) owed from Wroxton Group Holdings Limited. The company is owned and controlled by the directors.
Included in creditors is £191,662 (2022 - £141,662) owed to Woodcraft Timber Buildings Limited. This company is owned by Wroxton Limited and is its subsidiary.
Wroxton Group Holdings Limited is the parent company. The registered office address is Unit 16 Redfields Industrial Park, Fleet, Hampshire, United Kingdom, GU52 0RD.
12
Average number of employees
During the year the average number of employees was 9 (2022: 9).