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Registration number: 9269222

Wright Engineering Management Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Wright Engineering Management Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Wright Engineering Management Ltd

(Registration number: 9269222)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4

192

Current assets

 

Debtors

5

2,808

833

Cash at bank and in hand

 

3,761

44,656

 

6,569

45,489

Creditors: Amounts falling due within one year

6

(2,137)

(27,264)

Net current assets

 

4,432

18,225

Net assets

 

4,436

18,417

Capital and reserves

 

Called up share capital

100

100

Retained earnings

4,336

18,317

Shareholders' funds

 

4,436

18,417

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 April 2024
 

.........................................
Mr J C Wright
Director

 

Wright Engineering Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
8 Roche Close
Swindon
Wiltshire
SN3 6JQ

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

Tax

The tax expense for the period comprises current tax payable.

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.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years

 

Wright Engineering Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Wright Engineering Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 November 2022

2,126

2,126

At 31 October 2023

2,126

2,126

Depreciation

At 1 November 2022

1,934

1,934

Charge for the year

188

188

At 31 October 2023

2,122

2,122

Carrying amount

At 31 October 2023

4

4

At 31 October 2022

192

192

5

Debtors

Current

2023
£

2022
£

Prepayments

463

833

Other debtors

2,345

-

 

2,808

833

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

6,498

Other creditors

2,137

20,766

2,137

27,264