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REGISTERED NUMBER: 04880836 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 NOVEMBER 2023

FOR

WISBECH ENGINEERING LIMITED

WISBECH ENGINEERING LIMITED (REGISTERED NUMBER: 04880836)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WISBECH ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 NOVEMBER 2023







DIRECTOR: M P Gibbs





SECRETARY: M P Gibbs





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 04880836 (England and Wales)





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

WISBECH ENGINEERING LIMITED (REGISTERED NUMBER: 04880836)

BALANCE SHEET
29 NOVEMBER 2023

29.11.23 29.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,000
Tangible assets 5 6,223 7,681
6,223 8,681

CURRENT ASSETS
Stocks 17,250 17,400
Debtors 6 7,898 3,879
Cash at bank and in hand 7,120 6,533
32,268 27,812
CREDITORS
Amounts falling due within one year 7 30,480 20,551
NET CURRENT ASSETS 1,788 7,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,011

15,942

CREDITORS
Amounts falling due after more than one
year

8

(2,482

)

(3,479

)

PROVISIONS FOR LIABILITIES (1,200 ) (1,450 )
NET ASSETS 4,329 11,013

CAPITAL AND RESERVES
Called up share capital 125 125
Retained earnings 4,204 10,888
SHAREHOLDERS' FUNDS 4,329 11,013

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WISBECH ENGINEERING LIMITED (REGISTERED NUMBER: 04880836)

BALANCE SHEET - continued
29 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





M P Gibbs - Director


WISBECH ENGINEERING LIMITED (REGISTERED NUMBER: 04880836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2023

1. STATUTORY INFORMATION

Wisbech Engineering 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 (£).


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 director believes that the company is well placed to manage its financial risks successfully and has 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 annual financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was being amortised evenly over its estimated useful life of twenty years.

The company has taken advantage of the transitional provisions included in FRS 102 not to apply 'Business Combinations and Goodwill' retrospectively, to any 'Business Combinations' that occured prior to 1 December 2015.

As a result of the requirements of FRS 102, the company has amended its accounting policy to amortise the goodwill over eight years from the date of transition.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 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 Statement of Income and Retained Earnings, 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.


WISBECH ENGINEERING LIMITED (REGISTERED NUMBER: 04880836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 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.

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 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 November 2022
and 29 November 2023 20,000
AMORTISATION
At 30 November 2022 19,000
Charge for year 1,000
At 29 November 2023 20,000
NET BOOK VALUE
At 29 November 2023 -
At 29 November 2022 1,000

WISBECH ENGINEERING LIMITED (REGISTERED NUMBER: 04880836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 30 November 2022 23,781
Additions 542
At 29 November 2023 24,323
DEPRECIATION
At 30 November 2022 16,100
Charge for year 2,000
At 29 November 2023 18,100
NET BOOK VALUE
At 29 November 2023 6,223
At 29 November 2022 7,681

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Trade debtors 2,981 21
Other debtors 4,917 3,858
7,898 3,879

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Bank loans and overdrafts 997 970
Trade creditors 6,824 2,644
Taxation and social security 8,438 4,415
Other creditors 14,221 12,522
30,480 20,551

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.11.23 29.11.22
£    £   
Bank loans 2,482 3,479

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.11.23 29.11.22
£    £   
Within one year 3,108 -
Between one and five years 16,574 -
19,682 -

WISBECH ENGINEERING LIMITED (REGISTERED NUMBER: 04880836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 NOVEMBER 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 November 2023 and 29 November 2022:

29.11.23 29.11.22
£    £   
M P Gibbs and Mrs C J Gibbs
Balance outstanding at start of year 3,507 -
Amounts advanced 20,931 20,010
Amounts repaid (19,521 ) (16,503 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,917 3,507