2022-12-012023-11-302023-11-30false12913673WITTLES 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WITTLES LIMITED

Registered Number
12913673
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

WITTLES LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

KERR, Simon Rodney
TALBOT, Andrew

Registered Address

Wittles Castle Acre Stocks Green
Castle Acre
King's Lynn
PE32 2AE

Registered Number

12913673 (England and Wales)
WITTLES LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets310,00015,000
Tangible assets4631,940629,861
641,940644,861
Current assets
Debtors56,1795,000
Cash at bank and on hand7,7417,453
13,92012,453
Creditors amounts falling due within one year6(533,343)(528,059)
Net current assets (liabilities)(519,423)(515,606)
Total assets less current liabilities122,517129,255
Creditors amounts falling due after one year7(122,976)(134,834)
Provisions for liabilities8(1,422)(1,027)
Net assets(1,881)(6,606)
Capital and reserves
Called up share capital22
Profit and loss account(1,883)(6,608)
Shareholders' funds(1,881)(6,606)
The financial statements were approved and authorised for issue by the Board of Directors on 20 March 2024, and are signed on its behalf by:
TALBOT, Andrew
Director
Registered Company No. 12913673
WITTLES LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year56
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 2225,00025,000
At 30 November 2325,00025,000
Amortisation and impairment
At 01 December 2210,00010,000
Charge for year5,0005,000
At 30 November 2315,00015,000
Net book value
At 30 November 2310,00010,000
At 30 November 2215,00015,000
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 December 22624,4566,682-1,261632,399
Additions-7252,7405654,030
At 30 November 23624,4567,4072,7401,826636,429
Depreciation and impairment
At 01 December 22-1,996-5422,538
Charge for year-1,0825483211,951
At 30 November 23-3,0785488634,489
Net book value
At 30 November 23624,4564,3292,192963631,940
At 30 November 22624,4564,686-719629,861
5.Debtors: amounts due within one year

2023

2022

££
Other debtors6,1795,000
Total6,1795,000
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-63
Bank borrowings and overdrafts8,2863,945
Taxation and social security2,9954,197
Other creditors520,963518,755
Accrued liabilities and deferred income1,0991,099
Total533,343528,059
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts122,976134,834
Total122,976134,834
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,4221,027
Total1,4221,027