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REGISTERED NUMBER: 00477835 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

C WRIGHT & SON (GEDNEY) LTD

C WRIGHT & SON (GEDNEY) LTD (REGISTERED NUMBER: 00477835)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C WRIGHT & SON (GEDNEY) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: A J E Cunnington
Adrian C Cunnington
Mrs E M Scully





SECRETARY: A J E Cunnington





REGISTERED OFFICE: Peregrines Rest
Hallgate
Gedney
Spalding
Lincolnshire
PE12 0AH





REGISTERED NUMBER: 00477835 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

C WRIGHT & SON (GEDNEY) LTD (REGISTERED NUMBER: 00477835)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,883,635 1,933,290
Investments 6 50 50
1,883,685 1,933,340

CURRENT ASSETS
Stocks 333,109 351,558
Debtors 7 144,032 236,447
Cash at bank 198,954 172,719
676,095 760,724
CREDITORS
Amounts falling due within one year 8 503,779 522,534
NET CURRENT ASSETS 172,316 238,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,056,001

2,171,530

CREDITORS
Amounts falling due after more than one year 9 (815,070 ) (864,344 )

PROVISIONS FOR LIABILITIES (159,141 ) (157,416 )
NET ASSETS 1,081,790 1,149,770

CAPITAL AND RESERVES
Called up share capital 11 202,909 162,000
Retained earnings 878,881 987,770
SHAREHOLDERS' FUNDS 1,081,790 1,149,770

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

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

C WRIGHT & SON (GEDNEY) LTD (REGISTERED NUMBER: 00477835)

BALANCE SHEET - continued
30 NOVEMBER 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 12 August 2024 and were signed on its behalf by:





A J E Cunnington - Director


C WRIGHT & SON (GEDNEY) LTD (REGISTERED NUMBER: 00477835)

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

1. STATUTORY INFORMATION

C Wright & Son (Gedney) Ltd 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 (£).


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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

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.

Quota are being amortised evenly over their estimated useful life of three years.

Entitlements are being amortised evenly over their estimated useful life of three years.

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 - 2% on reducing balance
Leasehold property - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.


C WRIGHT & SON (GEDNEY) LTD (REGISTERED NUMBER: 00477835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 13,070
AMORTISATION
At 1 December 2022
and 30 November 2023 13,070
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

C WRIGHT & SON (GEDNEY) LTD (REGISTERED NUMBER: 00477835)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 1,838,398 1,103,752 2,942,150
Additions - 3,715 3,715
Disposals - (9,808 ) (9,808 )
At 30 November 2023 1,838,398 1,097,659 2,936,057
DEPRECIATION
At 1 December 2022 83,729 925,131 1,008,860
Charge for year 7,546 45,027 52,573
Eliminated on disposal - (9,011 ) (9,011 )
At 30 November 2023 91,275 961,147 1,052,422
NET BOOK VALUE
At 30 November 2023 1,747,123 136,512 1,883,635
At 30 November 2022 1,754,669 178,621 1,933,290

Included in cost of land and buildings is freehold land of £ 1,422,066 (2022 - £ 1,422,066 ) which is not depreciated.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 50
NET BOOK VALUE
At 30 November 2023 50
At 30 November 2022 50

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 31,883 104,170
Other debtors 112,149 132,277
144,032 236,447

C WRIGHT & SON (GEDNEY) LTD (REGISTERED NUMBER: 00477835)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 8,364 7,825
Trade creditors 5,402 1,646
Taxation and social security 11,944 11,026
Other creditors 478,069 502,037
503,779 522,534

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 675,000 675,000
Hire purchase contracts 30,979 39,344
Other creditors 109,091 150,000
815,070 864,344

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 675,000 675,000

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 675,000 675,000
Hire purchase contracts 39,343 47,169
714,343 722,169

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
12,000 Ordinary £1 12,000 12,000
300,000 Preference £1 190,909 150,000
202,909 162,000

C WRIGHT & SON (GEDNEY) LTD (REGISTERED NUMBER: 00477835)

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

12. PREFERENCE SHARES

Allotted, issued and fully paid 30.11.23 30.11.22
£ £

300,000 (2022 - 300,000) 3% redeemable cumulative preference shares of £1 each 190,909 150,000
As at 30 November 2023 190,909 150,000

The 3% redeemable cumulative preference shares are classified as compound financial instruments, which have the characteristics of both debt and equity and may be redeemed at any date after issue.


The debt element is the net present value of the liability relating to the future dividend stream and redemption and has been calculated using an equivalent rate of 8.25%, being the directors estimate of the cost of capital.

Debt Equity
Element Element Total

3% redeemable cumulative preference shares 109,091 190,909 300,000
As at 30 November 2023 109,091 190,909 300,000