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Registered number: 13089488









WRIGHT'S MILLING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
WRIGHT'S MILLING LIMITED
REGISTERED NUMBER: 13089488

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
2,101,001
4,639,671

Creditors: amounts falling due within one year
 5 
-
(255,822)

  

Net assets
  
2,101,001
4,383,849


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
2,100,901
4,383,749

  
2,101,001
4,383,849


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2024.




D A Wright
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 
WRIGHT'S MILLING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
100
4,383,749
4,383,849


Comprehensive income for the year

Profit for the year

-
2,100,901
2,100,901

Dividends: Equity capital
-
(4,383,749)
(4,383,749)


At 31 December 2023
100
2,100,901
2,101,001


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WRIGHT'S MILLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Wright's Milling Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. The Company's registered office is Harlow Mill The Pinnacles, Roydon Road, Harlow, Essex, England, CM19 5GH.
The principal activity of the Company is milling of flour and associated activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of G. R. Wright & Sons Limited as at 31 December 2023 and these financial statements may be obtained from Companies House.

Page 3

 
WRIGHT'S MILLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
WRIGHT'S MILLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
3
3


 


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,637,758
4,639,671

Other debtors
463,243
-

2,101,001
4,639,671


Debtors are measured at undiscounted amounts recoverable.
Amounts owed by group undertakings are payable on demand and no interest is charged.


5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
255,822



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100

The Ordinary shares rank pari passu.


Page 5

 
WRIGHT'S MILLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Related party transactions

The Company is exempt from disclosing related party transactions with other group entities as its financial statements are consolidated with its parent, G R Wright & Sons Limited, which are available from Companies House at https://www.gov.uk/government /organisations /companies-house.


8.


Ultimate controlling party

The ultimate controlling party is G.R. Wright & Sons Limited, the parent company.

9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 29 July 2024 by Stuart Moon (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 6