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REGISTERED NUMBER: 06483235 (England and Wales)












Financial Statements

for the Year Ended 30th June 2023

for

S. J. WRIGHT & SONS LIMITED

S. J. WRIGHT & SONS LIMITED (REGISTERED NUMBER: 06483235)

Contents of the Financial Statements
for the year ended 30th June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S. J. WRIGHT & SONS LIMITED

Company Information
for the year ended 30th June 2023







DIRECTORS: S J Wright
Mrs B C Wright
W S Wright
R E B Wright





SECRETARY: Mrs B C Wright





REGISTERED OFFICE: Ferny Hill Farm
Ferny Hill
Hadley Wood
Hertfordshire
EN4 0PZ





REGISTERED NUMBER: 06483235 (England and Wales)





ACCOUNTANTS: Attenboroughs (Accountants) Limited
Chartered Certified Accountants
1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR

S. J. WRIGHT & SONS LIMITED (REGISTERED NUMBER: 06483235)

Balance Sheet
30th June 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 127,234 161,909
127,234 161,909

CURRENT ASSETS
Stocks 6 82,650 82,575
Debtors 7 68,530 49,756
Cash at bank and in hand 124,743 121,962
275,923 254,293
CREDITORS
Amounts falling due within one year 8 356,223 359,110
NET CURRENT LIABILITIES (80,300 ) (104,817 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,934

57,092

CREDITORS
Amounts falling due after more than one year 9 (23,333 ) (33,333 )

PROVISIONS FOR LIABILITIES (19,770 ) (23,064 )
NET ASSETS 3,831 695

CAPITAL AND RESERVES
Called up share capital 12 400 400
Retained earnings 3,431 295
SHAREHOLDERS' FUNDS 3,831 695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

S. J. WRIGHT & SONS LIMITED (REGISTERED NUMBER: 06483235)

Balance Sheet - continued
30th June 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 12th February 2024 and were signed on its behalf by:





S J Wright - Director


S. J. WRIGHT & SONS LIMITED (REGISTERED NUMBER: 06483235)

Notes to the Financial Statements
for the year ended 30th June 2023


1. STATUTORY INFORMATION

S. 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.

Goodwill
Goodwill, being amounts paid in connection with the acquisition of a business in 2008, together with a further acquisition in 2012, are being amortised evenly over their estimated useful life of ten years.

Entitlements
Entitlements, being the amount paid for grazing rights to 31st December 2012, have been amortised on a straight line on cost basis to this date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors - 25% on reducing balance

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

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.

S. J. WRIGHT & SONS LIMITED (REGISTERED NUMBER: 06483235)

Notes to the Financial Statements - continued
for the year ended 30th June 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 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Entitlements Totals
£    £    £   
COST
At 1st July 2022
and 30th June 2023 40,000 15,833 55,833
AMORTISATION
At 1st July 2022
and 30th June 2023 40,000 15,833 55,833
NET BOOK VALUE
At 30th June 2023 - - -
At 30th June 2022 - - -

S. J. WRIGHT & SONS LIMITED (REGISTERED NUMBER: 06483235)

Notes to the Financial Statements - continued
for the year ended 30th June 2023


5. TANGIBLE FIXED ASSETS
Improvements
to Motor
property Equipment vehicles Tractors Totals
£    £    £    £    £   
COST
At 1st July 2022
and 30th June 2023 58,340 294,053 5,200 211,850 569,443
DEPRECIATION
At 1st July 2022 58,340 203,608 5,054 140,532 407,534
Charge for year - 17,264 146 17,265 34,675
At 30th June 2023 58,340 220,872 5,200 157,797 442,209
NET BOOK VALUE
At 30th June 2023 - 73,181 - 54,053 127,234
At 30th June 2022 - 90,445 146 71,318 161,909

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Equipment Tractors Totals
£    £    £   
COST
At 1st July 2022
and 30th June 2023 48,764 64,500 113,264
DEPRECIATION
At 1st July 2022 19,506 47,324 66,830
Charge for year 5,851 5,852 11,703
At 30th June 2023 25,357 53,176 78,533
NET BOOK VALUE
At 30th June 2023 23,407 11,324 34,731
At 30th June 2022 29,258 17,176 46,434

6. STOCKS
30/6/23 30/6/22
£    £   
Stocks 82,650 82,575

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 51,820 27,290
Other debtors 16,710 22,466
68,530 49,756

S. J. WRIGHT & SONS LIMITED (REGISTERED NUMBER: 06483235)

Notes to the Financial Statements - continued
for the year ended 30th June 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans and overdrafts (see note 10) 33,855 66,241
Hire purchase contracts 3,625 13,883
Trade creditors 45,476 58,984
Taxation and social security 21,972 820
Other creditors 251,295 219,182
356,223 359,110

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/23 30/6/22
£    £   
Bank loans (see note 10) 23,333 33,333

10. LOANS

An analysis of the maturity of loans is given below:

30/6/23 30/6/22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 23,855 56,241
Bank loans 10,000 10,000
33,855 66,241

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 13,333 23,333

11. SECURED DEBTS

The following secured debts are included within creditors:

30/6/23 30/6/22
£    £   
Bank overdrafts 23,855 56,241

The bank overdraft and loan are secured by way of a personal guarantee by the directors of the company.

S. J. WRIGHT & SONS LIMITED (REGISTERED NUMBER: 06483235)

Notes to the Financial Statements - continued
for the year ended 30th June 2023


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
100 Ordinary 'A' £1 100 100
100 Ordinary 'B' £1 100 100
100 Ordinary 'C' £1 100 100
100 Ordinary 'D' £1 100 100
400 400

13. ULTIMATE CONTROLLING PARTY

This company is under the control of its directors.