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REGISTERED NUMBER: 00420011 (England and Wales)











FRED J.WRIGHT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






FRED J.WRIGHT LIMITED (REGISTERED NUMBER: 00420011)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


FRED J.WRIGHT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J G Wright
Mr J R Wright



SECRETARY: Mr J R Wright



REGISTERED OFFICE: Carne House
Doncaster Road
Brayton
Selby
North Yorkshire
YO8 9HD



REGISTERED NUMBER: 00420011 (England and Wales)



ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
YO19 5UW



BANKERS: Barclays Bank plc
1,2 & 3 Parliament Street
York
YO1 8GA

FRED J.WRIGHT LIMITED (REGISTERED NUMBER: 00420011)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 504 346
Investment property 5 870,263 870,328
870,767 870,674

CURRENT ASSETS
Debtors 6 4,150 9,645
Cash at bank 93,381 81,844
97,531 91,489
CREDITORS
Amounts falling due within one year 7 60,330 59,569
NET CURRENT ASSETS 37,201 31,920
TOTAL ASSETS LESS CURRENT LIABILITIES 907,968 902,594

PROVISIONS FOR LIABILITIES 6,698 5,072
NET ASSETS 901,270 897,522

CAPITAL AND RESERVES
Called up share capital 14,016 14,016
Non distributable profit and loss reserves 198,450 199,650
Retained earnings 688,804 683,856
SHAREHOLDERS' FUNDS 901,270 897,522

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.

FRED J.WRIGHT LIMITED (REGISTERED NUMBER: 00420011)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr J G Wright - Director


FRED J.WRIGHT LIMITED (REGISTERED NUMBER: 00420011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Fred J.Wright 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 company income is derived from rent at commercial premises in Goole.

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 represents the amount derived from the rent of the property net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.3% on reducing balance

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transactions costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements, where appropriate. Gains and losses arising from changes in fair value of investment properties are included in the Profit and Loss Account and Retained Earnings in the period in which they arise.

Aggregate retained earnings on the revaluation of investment properties are non-distributable.

Depreciation relates to Fixtures and Fittings which are included within investment property.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


FRED J.WRIGHT LIMITED (REGISTERED NUMBER: 00420011)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 540
Additions 284
At 31 March 2024 824
DEPRECIATION
At 1 April 2023 194
Charge for year 126
At 31 March 2024 320
NET BOOK VALUE
At 31 March 2024 504
At 31 March 2023 346

5. INVESTMENT PROPERTY

The carrying value of investment properties is reviewed at the end of each accounting period by the directors and adjusted, if necessary, in line with current fair values. The valuations have been undertaken in accordance with an appropriate methodology based on return of capital adjusted for regional variations in property values. Deferred taxation has been provided as necessary as a separate provision.

The amount credited to the Profit and Loss account in respect of fair value adjustments in the year, was £nil (2023: £20,000).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,150 9,645

FRED J.WRIGHT LIMITED (REGISTERED NUMBER: 00420011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 23,838 19,189
Other creditors 36,492 40,380
60,330 59,569

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr J R Wright
Balance outstanding at start of year - -
Amounts advanced - 6,286
Amounts repaid - (6,286 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loans to the directors had no interest charged and were repaid in full before the year end.

9. RELATED PARTY DISCLOSURES

Within creditors is an amount due to the directors of £852 (2023: £5,257). This represents an interest free loan to the company.