Company registration number 01148362 (England and Wales)
WICKS AND WILSON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
WICKS AND WILSON LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
WICKS AND WILSON LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,266
3,058
Current assets
Stocks
1,072,666
905,821
Debtors
4
1,035,696
1,161,062
Cash at bank and in hand
224,861
324,207
2,333,223
2,391,090
Creditors: amounts falling due within one year
5
(105,451)
(98,475)
Net current assets
2,227,772
2,292,615
Total assets less current liabilities
2,232,038
2,295,673
Provisions for liabilities
(519)
(225)
Net assets
2,231,519
2,295,448
Capital and reserves
Called up share capital
7
5,000
5,000
Capital redemption reserve
95,000
95,000
Profit and loss reserves
2,131,519
2,195,448
Total equity
2,231,519
2,295,448

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 12 August 2024
Mr. P B Crowley
Director
Company Registration No. 01148362
WICKS AND WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Wicks and Wilson Limited is a private company limited by shares incorporated in England and Wales. The registered office is Rutherford Road, Daneshill Industrial Estate, Basingstoke, Hampshire, United Kingdom, RG24 8PD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
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:

Leasehold improvements
Straight line over life of lease
Plant and machinery
20% Straight line
Fixtures, fittings & equipment
20% Straight line

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. This change to the valuation of stocks will be implemented in future accounting periods

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

WICKS AND WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. The company considers all its financial instruments to be basic.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

WICKS AND WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.12
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.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
10
10
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
19,954
172,264
192,218
Additions
-
0
2,686
2,686
At 31 December 2023
19,954
174,950
194,904
Depreciation and impairment
At 1 January 2023
19,954
169,206
189,160
Depreciation charged in the year
-
0
1,478
1,478
At 31 December 2023
19,954
170,684
190,638
Carrying amount
At 31 December 2023
-
0
4,266
4,266
At 31 December 2022
-
0
3,058
3,058
WICKS AND WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
241,138
341,046
Corporation tax recoverable
43,009
82,957
Amounts owed by group undertakings
695,199
687,820
Other debtors
56,350
49,239
1,035,696
1,161,062
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
51,573
31,533
Taxation and social security
22,433
21,604
Other creditors
31,445
45,338
105,451
98,475
6
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
519
225
2023
Movements in the year:
£
Liability at 1 January 2023
225
Charge to profit or loss
294
Liability at 31 December 2023
519

 

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
5,000
5,000
5,000
5,000
WICKS AND WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
121,844
188,849
9
Parent company

Crowley Europe LLC

 

Crowley Europe LLC, registered Office Suite M, 5111 Pegasus Court, Frederick, MD, 21707, USA, is the parent company and prepares consolidated financial statements.

2023-12-312023-01-01false15 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr. P B CrowleyMr. P B Crowleyfalsefalse011483622023-01-012023-12-31011483622023-12-31011483622022-12-3101148362core:LandBuildings2023-12-3101148362core:OtherPropertyPlantEquipment2023-12-3101148362core:LandBuildings2022-12-3101148362core:OtherPropertyPlantEquipment2022-12-3101148362core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3101148362core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3101148362core:CurrentFinancialInstruments2023-12-3101148362core:CurrentFinancialInstruments2022-12-3101148362core:ShareCapital2023-12-3101148362core:ShareCapital2022-12-3101148362core:CapitalRedemptionReserve2023-12-3101148362core:CapitalRedemptionReserve2022-12-3101148362core:RetainedEarningsAccumulatedLosses2023-12-3101148362core:RetainedEarningsAccumulatedLosses2022-12-3101148362bus:CompanySecretaryDirector12023-01-012023-12-3101148362core:LeaseholdImprovements2023-01-012023-12-3101148362core:PlantMachinery2023-01-012023-12-3101148362core:FurnitureFittings2023-01-012023-12-31011483622022-01-012022-12-3101148362core:LandBuildings2022-12-3101148362core:OtherPropertyPlantEquipment2022-12-31011483622022-12-3101148362core:LandBuildings2023-01-012023-12-3101148362core:OtherPropertyPlantEquipment2023-01-012023-12-3101148362core:WithinOneYear2023-12-3101148362core:WithinOneYear2022-12-3101148362bus:PrivateLimitedCompanyLtd2023-01-012023-12-3101148362bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101148362bus:FRS1022023-01-012023-12-3101148362bus:AuditExemptWithAccountantsReport2023-01-012023-12-3101148362bus:Director12023-01-012023-12-3101148362bus:CompanySecretary12023-01-012023-12-3101148362bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP