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REGISTERED NUMBER: 02073627 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Peter Wickham Limited

Peter Wickham Limited (Registered number: 02073627)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Peter Wickham Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: A B Wickham Esq
Mrs M J Wickham





SECRETARY: A B Wickham Esq





REGISTERED OFFICE: Combourne Farm
GOUDHURST
Kent
TN171LP





REGISTERED NUMBER: 02073627 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG

Peter Wickham Limited (Registered number: 02073627)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 144,295 153,954
Investments 5 10 10
144,305 153,964

CURRENT ASSETS
Stocks 67,351 52,719
Debtors 6 6,506 4,297
Cash in hand 116 211
73,973 57,227
CREDITORS
Amounts falling due within one year 7 391,549 385,256
NET CURRENT LIABILITIES (317,576 ) (328,029 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(173,271

)

(174,065

)

CREDITORS
Amounts falling due after more than
one year

8

265,665

268,417
NET LIABILITIES (438,936 ) (442,482 )

CAPITAL AND RESERVES
Called up share capital 10 18,334 18,334
Share premium 204,873 204,873
Retained earnings (662,143 ) (665,689 )
SHAREHOLDERS' FUNDS (438,936 ) (442,482 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Peter Wickham Limited (Registered number: 02073627)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:





A B Wickham Esq - Director


Peter Wickham Limited (Registered number: 02073627)

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

1. STATUTORY INFORMATION

Peter Wickham 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

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 each asset over its estimated useful life.
Short leasehold - not provided
Improvements to property - 4% on cost
Plant and machinery - straight line over 3 years
Motor vehicles - 25% on reducing balance
Computer equipment - 16.67% per annum of net book value

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


Peter Wickham Limited (Registered number: 02073627)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The accounts record a deficit on reserves. However, the company has a secured overdraft and long term loan from Barclays which is payable over 20 years. In addition, Mr A Wickham has made a loan of £150,000 to the company. This loan is subordinated to other claims against the company.

The directors have prepared a cashflow forecast for the period ending 30 April 2025. This includes a key assumption relating to the level of rental and other income. The directors have included income in the forecast at a level consistent with current expectations.

The cashflow forecasts indicate that the company will have sufficient funds to meet its financial obligations as they fall due and stay within its banking facilities for the foreseeable future. As a result, the directors consider that it is appropriate that the accounts have been prepared on a going concern basis.

The company has also started the process to obtain full planning permission for the conversion of a property for residential development. Assuming full planning permission is granted, the property would be marketed for sale. This property is owned by one of the directors but this property provides security for the bank loan. The director would pay the potential sale proceeds into the company to clear the outstanding bank borrowing.

The potential sale of this property is not included in the cashflow forecast for the period ending 30 April 2025 but the sale of the property would also provide the company with additional working capital for future trading.

Peter Wickham Limited (Registered number: 02073627)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 August 2022
and 31 July 2023 39,990 90,161 170,066
DEPRECIATION
At 1 August 2022 - 33,745 114,066
Charge for year - 1,686 7,541
At 31 July 2023 - 35,431 121,607
NET BOOK VALUE
At 31 July 2023 39,990 54,730 48,459
At 31 July 2022 39,990 56,416 56,000

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 14,158 656 315,031
DEPRECIATION
At 1 August 2022 12,949 317 161,077
Charge for year 301 131 9,659
At 31 July 2023 13,250 448 170,736
NET BOOK VALUE
At 31 July 2023 908 208 144,295
At 31 July 2022 1,209 339 153,954

Peter Wickham Limited (Registered number: 02073627)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 10
NET BOOK VALUE
At 31 July 2023 10
At 31 July 2022 10

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 5,566 3,380
Other debtors 940 917
6,506 4,297

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 21,662 29,153
Trade creditors 25,113 14,084
Taxation and social security 262 844
Other creditors 344,512 341,175
391,549 385,256

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 115,665 118,417
Other creditors 150,000 150,000
265,665 268,417

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 71,926 44,297

Peter Wickham Limited (Registered number: 02073627)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank overdrafts 12,781 12,284
Bank loans 124,546 135,286
137,327 147,570

The bank borrowing is secured by a charge over the land and buildings owned by Mr A B Wickham.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
18,334 Ordinary £1 18,334 18,334

11. PENSION COMMITMENTS

The company operates an auto-enrolment pension scheme for staff. Contributions by the company to this were £178 (2022: £682). At the year end employer contributions of £Nil (2022: £Nil) had not been paid across to the scheme.

12. RELATED PARTY DISCLOSURES

The director has charged £6,000 in rent to the company which is considered to be open market value (2022: £6,000).

One of the directors has made an interest free loan of £343,261 to the company which is due within one year. In addition, this director has made an interest free loan of £150,000 to the company which is due in more than one year. This loan is subordinated to the liabilities of the company.

A company controlled by the daughter of the director rented a unit from the company for £19,200 (2022: £19,200) which is considered to be open market value. This company charged Peter Wickham Limited £797 (2022: £Nil) for services provided during the year which is considered to be open market value.