1 September 2022 false Taxfiler 2024.1 12137302business:PrivateLimitedCompanyLtd2022-09-012023-08-31 121373022022-08-31 121373022022-09-012023-08-31 12137302business:AuditExemptWithAccountantsReport2022-09-012023-08-31 12137302business:AbridgedAccounts2022-09-012023-08-31 121373022023-08-31 12137302business:Director12022-09-012023-08-31 12137302business:Director22022-09-012023-08-31 12137302business:RegisteredOffice2022-09-012023-08-31 121373022022-08-31 12137302core:WithinOneYear2023-08-31 12137302core:WithinOneYear2022-08-31 12137302core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 12137302core:ShareCapitalcore:PreviouslyStatedAmount2022-08-31 12137302core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 12137302core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-08-31 12137302core:PreviouslyStatedAmount2023-08-31 12137302core:PreviouslyStatedAmount2022-08-31 12137302business:SmallEntities2022-09-012023-08-31 12137302countries:EnglandWales2022-09-012023-08-31 12137302core:PlantMachinery2022-09-012023-08-31 12137302core:ComputerEquipment2022-09-012023-08-31 12137302business:OrdinaryShareClass12022-09-012023-08-31 12137302business:OrdinaryShareClass12021-09-012022-08-31 121373022021-09-012022-08-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 12137302 (England and Wales)
The Wakefield Group LTD Unaudited accounts for the year ended 31 August 2023
The Wakefield Group LTD Unaudited accounts Contents
Page
- 2 -
The Wakefield Group LTD Company Information for the year ended 31 August 2023
Directors
C A Wakefield C L Wakefield
Company Number
12137302 (England and Wales)
Registered Office
Unit 2 Brownhills Business Park Canal Lane Stoke on Trent Staffordshire ST6 4RP
Accountants
Thursfields Accountancy Limited Business Lodge, Trent House 234 Victoria Road Stoke-on-Trent Staffordshire ST4 2LW
- 3 -
The Wakefield Group LTD Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
7,000 
8,000 
Tangible assets
8,163 
12,344 
15,163 
20,344 
Current assets
Inventories
82,000 
75,000 
Debtors
18,934 
26,900 
Cash at bank and in hand
5,721 
13,515 
106,655 
115,415 
Creditors: amounts falling due within one year
(118,666)
(106,713)
Net current (liabilities)/assets
(12,011)
8,702 
Total assets less current liabilities
3,152 
29,046 
Provisions for liabilities
Deferred tax
(1,552)
(2,345)
Net assets
1,600 
26,701 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
1,598 
26,699 
Shareholders' funds
1,600 
26,701 
For the year ending 31 August 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 12 March 2024 and were signed on its behalf by
C A Wakefield Director Company Registration No. 12137302
- 4 -
The Wakefield Group LTD Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
The Wakefield Group LTD is a private company, limited by shares, registered in England and Wales, registration number 12137302. The registered office is Unit 2 Brownhills Business Park, Canal Lane, Stoke on Trent, Staffordshire, ST6 4RP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
20% Straight Line
Computer equipment
25% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is being provided over the estimated useful life of 10 years.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
The Wakefield Group LTD Notes to the Accounts for the year ended 31 August 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 September 2022
10,000 
At 31 August 2023
10,000 
Amortisation
At 1 September 2022
2,000 
Charge for the year
1,000 
At 31 August 2023
3,000 
Net book value
At 31 August 2023
7,000 
At 31 August 2022
8,000 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 September 2022
20,227 
At 31 August 2023
20,227 
Depreciation
At 1 September 2022
7,883 
Charge for the year
4,181 
At 31 August 2023
12,064 
Net book value
At 31 August 2023
8,163 
At 31 August 2022
12,344 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
7
Average number of employees
During the year the average number of employees was 7 (2022: 7).
- 6 -