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REGISTERED NUMBER: 00737301 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2023

for

John Wherritt Limited

John Wherritt Limited (Registered number: 00737301)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


John Wherritt Limited

Company Information
for the Year Ended 28 February 2023







Directors: Mrs C Wilson
Mrs S Jackson





Secretary: Mrs S Jackson





Registered office: 5/7 Eastborough
Scarborough
North Yorkshire
YO11 1NG





Registered number: 00737301 (England and Wales)





Accountants: Ashby Berry Coulsons
2 Belgrave Crescent
Scarborough
North Yorkshire
YO11 1UB

John Wherritt Limited (Registered number: 00737301)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 75,083 75,098

Current assets
Stocks 5 82,484 83,853
Prepayments and accrued income 1,337 1,132
Cash at bank and in hand 55,102 54,265
138,923 139,250
Creditors
Amounts falling due within one year 6 81,039 82,545
Net current assets 57,884 56,705
Total assets less current liabilities 132,967 131,803

Capital and reserves
Called up share capital 7 6,000 6,000
Revaluation reserve 8 70,140 70,140
Retained earnings 56,827 55,663
Shareholders' funds 132,967 131,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

John Wherritt Limited (Registered number: 00737301)

Balance Sheet - continued
28 February 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 20 February 2024 and were signed on its behalf by:





Mrs S Jackson - Director


John Wherritt Limited (Registered number: 00737301)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. Statutory information

John Wherritt 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.

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention modified to include certain items at fair value.The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Shop equipmentReducing balance15%
Computer equipmentReducing balance25%

The company adopted FRS 102 in 2017 and the directors concluded that there be a policy change whereby Land and buildings are no longer depreciated.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

John Wherritt Limited (Registered number: 00737301)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. Accounting policies - continued

Debtors and creditors receivable / payable
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses .

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of souvenir and fancy goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

3. Employees and directors

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

John Wherritt Limited (Registered number: 00737301)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. Tangible fixed assets
Fixtures
Freehold and
property fittings Totals
£    £    £   
Cost
At 1 March 2022
and 28 February 2023 75,000 3,444 78,444
Depreciation
At 1 March 2022 - 3,346 3,346
Charge for year - 15 15
At 28 February 2023 - 3,361 3,361
Net book value
At 28 February 2023 75,000 83 75,083
At 28 February 2022 75,000 98 75,098


5. Stocks
2023 2022
£    £   
Stocks 82,484 83,853

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 3,364 2,912
Taxation and social security 3,523 7,658
Other creditors 74,152 71,975
81,039 82,545

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,400 Ordinary Shares £1 5,400 5,400
600 Preferred Ordinary Shares £1 600 600
6,000 6,000

John Wherritt Limited (Registered number: 00737301)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. Reserves
Revaluation
reserve
£   
At 1 March 2022
and 28 February 2023 70,140

Land and buildings were restated in the 2017 accounts at the deemed cost of the 1988 revaluation of £75,000. A prior year adjustment was undertaken to remove the accumulated depreciation and bring the revaluation reserve to match the value of the property, less the original cost of £4,860, leaving the revaluation reserve at £70,140.