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W.H. PATTERSON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2023






W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.H. PATTERSON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: G A Fuller
Miss C L Fuller
A R Fuller
Mrs E Wells
Miss M Meredith
Miss E Campin





SECRETARY: G A Fuller





REGISTERED OFFICE: Devonshire House
Manor Way
Borehamwood
Herts
WD6 1QQ





REGISTERED NUMBER: 05102646 (England and Wales)





ACCOUNTANTS: Goodier, Smith & Watts Limited
Devonshire House
Manor Way
Borehamwood
Herts
WD6 1QQ

W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 10,000
Tangible assets 5 58,400 19,039
63,400 29,039

CURRENT ASSETS
Stocks 2,586,911 2,340,604
Debtors 6 857,339 1,430,139
Cash at bank 333,042 40,945
3,777,292 3,811,688
CREDITORS
Amounts falling due within one year 7 1,210,583 1,240,215
NET CURRENT ASSETS 2,566,709 2,571,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,630,109

2,600,512

PROVISIONS FOR LIABILITIES 14,276 3,617
NET ASSETS 2,615,833 2,596,895

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,614,833 2,595,895
SHAREHOLDERS' FUNDS 2,615,833 2,596,895

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

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

W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

BALANCE SHEET - continued
30 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 20 March 2024 and were signed on its behalf by:





G A Fuller - Director


W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

W.H. Patterson 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.

Revenue from services is recognised in the accounting period in which the services are rendered. For fixed price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided. Revenue from sales of paintings is recognised on the date the sale is agreed,

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.


W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 100,000
AMORTISATION
At 1 July 2022 90,000
Amortisation for year 5,000
At 30 June 2023 95,000
NET BOOK VALUE
At 30 June 2023 5,000
At 30 June 2022 10,000

W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 114,928 - 82,216 197,144
Additions 861 62,690 3,186 66,737
At 30 June 2023 115,789 62,690 85,402 263,881
DEPRECIATION
At 1 July 2022 106,537 - 71,568 178,105
Charge for year 1,388 15,673 10,315 27,376
At 30 June 2023 107,925 15,673 81,883 205,481
NET BOOK VALUE
At 30 June 2023 7,864 47,017 3,519 58,400
At 30 June 2022 8,391 - 10,648 19,039

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 253,649 988,338
Other debtors 603,690 441,801
857,339 1,430,139

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 647,169 705,275
Taxation and social security 74,247 259,309
Other creditors 489,167 275,631
1,210,583 1,240,215

8. SECURED DEBTS

Weatherbys Bank Limited holds a guarantee and indemnity and letter of set off dated 28th December 2008 over the company securing all monies due from Gladwell & Co to the bank.

Beauchamp Real Estate Holdings Limited hold a rent deposit deed over the company dated 18th December 2012, securing £39,300 due from the company.