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REGISTERED NUMBER: 00690997 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

J. H. Wormington & Son Limited

J. H. Wormington & Son Limited (Registered number: 00690997)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

J. H. Wormington & Son Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M J Wormington
J H Wormington
I J Wormington





SECRETARY: J H Wormington





REGISTERED OFFICE: Patchetts Farm
Tardebigge
Bromsgrove
Worcestershire
B60 3HA





REGISTERED NUMBER: 00690997 (England and Wales)





ACCOUNTANTS: Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

J. H. Wormington & Son Limited (Registered number: 00690997)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,565,338 1,546,524
Investment property 5 320,000 165,000
1,885,338 1,711,524

CURRENT ASSETS
Stocks 417,320 448,820
Debtors 119,953 140,839
Investments 35 35
Cash in hand 101 151
537,409 589,845
CREDITORS
Amounts falling due within one year 609,101 563,940
NET CURRENT (LIABILITIES)/ASSETS (71,692 ) 25,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,813,646

1,737,429

CREDITORS
Amounts falling due after more than one year 6 (720,609 ) (754,765 )

PROVISIONS FOR LIABILITIES (139,536 ) (124,610 )
NET ASSETS 953,501 858,054

CAPITAL AND RESERVES
Called up share capital 11,000 11,000
Fair value reserve 8 233,859 108,309
Retained earnings 708,642 738,745
SHAREHOLDERS' FUNDS 953,501 858,054

J. H. Wormington & Son Limited (Registered number: 00690997)

Abridged Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 May 2024 and were signed on its behalf by:





J H Wormington - Director


J. H. Wormington & Son Limited (Registered number: 00690997)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

J. H. Wormington & Son 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 as modified by the revaluation of certain 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.
Freehold property - not provided
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

No depreciation is charged on buildings as the directors have undertaken an impairment review and, in their opinion, the cost reflected in the accounts is a true and fair reflection of the assets' value in use.

Investment property
In accordance with Financial Reporting Standard 102 Section 1a, investment property is included at fair value and gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided, which is a departure from the Companies Act 2006, but is required to provide a true and fair view. The directors undertake an annual review of valuations.

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.


J. H. Wormington & Son Limited (Registered number: 00690997)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

Rental income
Rental income arising from investment properties is accounted for on a straight line basis over the lease term

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 2,392,836
Additions 194,739
Disposals (21,000 )
At 31 March 2024 2,566,575
DEPRECIATION
At 1 April 2023 846,312
Charge for year 175,002
Eliminated on disposal (20,077 )
At 31 March 2024 1,001,237
NET BOOK VALUE
At 31 March 2024 1,565,338
At 31 March 2023 1,546,524

Included in cost of land and buildings is freehold land of £ 347,443 (2023 - £ 347,443 ) which is not depreciated.

J. H. Wormington & Son Limited (Registered number: 00690997)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 165,000
Revaluations 155,000
At 31 March 2024 320,000
NET BOOK VALUE
At 31 March 2024 320,000
At 31 March 2023 165,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2004 51,713
Valuation in 2012 65,000
Valuation in 2024 155,000
Cost 48,287
320,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 48,287 48,287

Investment property was valued on an open market basis basis on 31 March 2024 by the directors .

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 217,136 294,868



J. H. Wormington & Son Limited (Registered number: 00690997)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 266,598 223,608
Bank loans 613,859 677,580
Hire purchase contracts 190,520 186,333
1,070,977 1,087,521

National Westminster Bank Ltd holds a legal charge dated 31st July 2019 over property known as Patchetts Farm, Tardebigge, Bromsgrove, B60 3HA together with a a fixed and floating charge dated 29th April 2019 over all property and undertakings of the company.

The Agricultural Mortgage Corporation Loan is also secured by a charge over the company's freehold properties.

Hire purchase contracts are secured on the assets to which they relate.

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023 108,309
Restatement to fair value 125,550

At 31 March 2024 233,859

9. CONTINGENT LIABILITIES

There were no material contingent liabilities at the year end.


10. POST BALANCE SHEET EVENTS

There were no material post balance sheet events.


Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
J. H. Wormington & Son Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J. H. Wormington & Son Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of J. H. Wormington & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J. H. Wormington & Son Limited and state those matters that we have agreed to state to the Board of Directors of J. H. Wormington & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J. H. Wormington & Son Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J. H. Wormington & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J. H. Wormington & Son Limited. You consider that J. H. Wormington & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J. H. Wormington & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL


28 May 2024