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REGISTERED NUMBER: 06856769 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

M P Wharmby Limited

M P Wharmby Limited (Registered number: 06856769)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M P Wharmby Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M P Wharmby
M M Wharmby
S G Wharmby





SECRETARY: Ledger Sparks Ltd





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 06856769 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

M P Wharmby Limited (Registered number: 06856769)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 38,367 32,189
38,367 32,189

CURRENT ASSETS
Stocks - 13,450
Debtors 6 29,819 19,221
Cash at bank 220,505 141,032
250,324 173,703
CREDITORS
Amounts falling due within one year 7 (214,918 ) (185,625 )
NET CURRENT ASSETS/(LIABILITIES) 35,406 (11,922 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,773

20,267

PROVISIONS FOR LIABILITIES 9 (7,290 ) (6,116 )
NET ASSETS 66,483 14,151

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 66,383 14,051
66,483 14,151

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.

M P Wharmby Limited (Registered number: 06856769)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





M P Wharmby - Director


M P Wharmby Limited (Registered number: 06856769)

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

1. STATUTORY INFORMATION

M P Wharmby 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company continued to be that of building and maintenance.

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 represents amounts receivable for goods and services net of trade discounts.

INTANGIBLE FIXED ASSETS - GOODWILL
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles 25% Reducing Balance
Fixtures and fittings 25% Reducing Balance
Computer equipment25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

M P Wharmby Limited (Registered number: 06856769)

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

2. ACCOUNTING POLICIES - continued

LEASES
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

GOING CONCERN
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

PROVISION FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

PENSIONS
DEFINED CONTRIBUTION PENSION PLAN
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of income and retained earning when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023
and 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

M P Wharmby Limited (Registered number: 06856769)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 399 67,570 119 68,088
Additions - 32,000 - 32,000
Disposals - (20,990 ) - (20,990 )
At 31 March 2024 399 78,580 119 79,098
DEPRECIATION
At 1 April 2023 58 35,792 49 35,899
Charge for year 85 7,353 18 7,456
Eliminated on disposal - (2,624 ) - (2,624 )
At 31 March 2024 143 40,521 67 40,731
NET BOOK VALUE
At 31 March 2024 256 38,059 52 38,367
At 31 March 2023 341 31,778 70 32,189

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,304 10,920
Other debtors 9,515 8,301
29,819 19,221

The directors consider the carrying value of trade and other receivables approximate to their fair value.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,164 3,728
Taxation and social security 46,900 27,220
Other creditors 155,854 154,677
214,918 185,625

The directors consider the carrying amounts of current liabilities approximate to their fair values.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,068 28,068
Between one and five years 88,882 116,950
116,950 145,018

M P Wharmby Limited (Registered number: 06856769)

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

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,290 6,116

Deferred
tax
£   
Balance at 1 April 2023 6,116
Provided during year 1,174
Balance at 31 March 2024 7,290

10. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,645 (2023 - £2,185).

Contributions totaling Nil (2023 - Nil) were payable to fund at the balance sheet date.

12. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors are amounts due to the directors of £152,282 (2023 - £151,297). This loan is interest free and repayable on demand.