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REGISTERED NUMBER: 00533562 (England and Wales)






















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

W.G.WIGGINTON LIMITED

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


W.G.WIGGINTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P P P Keyland
M J Kidds
Mrs R Keyland





SECRETARY: P P P Keyland





REGISTERED OFFICE: Wigginton House
1-4 Rockware Avenue
Greenford
Middlesex
UB6 0AA





REGISTERED NUMBER: 00533562 (England and Wales)





AUDITORS: GKP (Ampthill) Limited
Statutory Auditor
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
W G Wigginton established in 1926 is a specialist company that provides building, electrical, mechanical and fire safety solutions to public authorities, housing associations and the private sector. We have formed several long term partnering frameworks with clients enhancing our reputation as a leading provider of fire safety solutions within the social housing market sector.

The directors consider the results at the end of the year and the company's financial position to have met expectations. These results reinforce our financial strength and put us in an excellent position to continue our successful future growth. The company has a substantial order book for the coming year which is in line with our business growth projections.

PRINCIPAL RISKS AND UNCERTAINTIES
Credit Risk
The directors carry out stringent credit checks before entering into contract and credit limits are applied. These are monitored throughout the duration of the contract.

Liquidity Risk
The company had bank balances of £11.6 million at the end of the financial year. The directors are confident that this is more than adequate to fund the ongoing day to day working capital of the company for the foreseeable future.

Competition
The company operates in a competitive marketplace. We aim to provide an excellent quality service, forming meaningful relationships, over the long term, with all our clients. Above all we create an environment of trust, embracing partnering and collaboration, thus enabling us to achieve success in everything we do.

KEY PERFORMANCE INDICATORS
The company considers the key performance indicators to be turnover, gross profit and cash at the bank and in hand.
2024 2023
£ £
Turnover 24,992,448 23,467,456
Gross Profit 5,164,711 7,778,686
Cash at bank and in hand 11,629,766 14,890,274



ON BEHALF OF THE BOARD:





P P P Keyland - Director


29 August 2024

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of electrical, mechanical and related specialist services.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £ 2,320,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

P P P Keyland
M J Kidds
Mrs R Keyland

POLITICAL DONATIONS AND EXPENDITURE
The company made no political donations during the current or previous year.

DISCLOSURE IN THE STRATEGIC REPORT
Future developments of the company are set out in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


AUDITORS
The auditors, GKP (Ampthill) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P P P Keyland - Director


29 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
W.G.WIGGINTON LIMITED


Opinion
We have audited the financial statements of W.G.Wigginton Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
W.G.WIGGINTON LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Owing to the inherent limitations of an audit, there is unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). The more removed the laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment, forgery, collusion, omission or misrepresentation.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
W.G.WIGGINTON LIMITED


Auditors' responsibilities for the audit of the financial statements - continued
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- A part of the audit planning process was to look at each area of the financial statements and ascertain the level of risk for each applicable audit assertion. Where an increased risk was identified, specific audit work was designed to ensure those risks were at the forefront of the audit work carried out.
- During the audit planning process, important laws and regulations applying to the company were identified by making enquiries of management in addition to our own checks of the laws and regulations applying to a business of this nature.
- The engagement partner assessed the experience and abilities of the engagement team to ensure they were collectively competent to identify irregularities.
- All risks identified at the planning stage and the related audit work were reviewed and results considered to confirm that no irregularities had been identified.
- Our audit process included testing journal entries due to an inherent risk of management override of controls.
- Our audit has included a review of the disclosures in the financial statements and comparison of those disclosures with the results of our audit work to identify any disparities.
- Analytical review of the financial statements has been undertaken at both the planning and completion stages of the audit to identify risks of irregularities and the results of the audit work carried out on those areas of risks.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen Mason BSc FCA (Senior Statutory Auditor)
for and on behalf of GKP (Ampthill) Limited
Statutory Auditor
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

29 August 2024

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 24,992,448 23,467,456

Cost of sales 19,827,737 15,688,770
GROSS PROFIT 5,164,711 7,778,686

Administrative expenses 1,526,567 1,492,658
OPERATING PROFIT 4 3,638,144 6,286,028

Interest receivable and similar income 584,628 119,755
4,222,772 6,405,783

Interest payable and similar expenses 5 7,053 -
PROFIT BEFORE TAXATION 4,215,719 6,405,783

Tax on profit 6 1,082,877 1,231,646
PROFIT FOR THE FINANCIAL YEAR 3,132,842 5,174,137

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 3,132,842 5,174,137


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,132,842

5,174,137

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 30,697 16,024

CURRENT ASSETS
Stocks 9 48,000 331,719
Debtors 10 6,232,769 8,043,286
Cash at bank and in hand 11,629,766 14,890,274
17,910,535 23,265,279
CREDITORS
Amounts falling due within one year 11 8,808,054 14,960,967
NET CURRENT ASSETS 9,102,481 8,304,312
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,133,178

8,320,336

CAPITAL AND RESERVES
Called up share capital 12 682 682
Capital redemption reserve 319 319
Retained earnings 9,132,177 8,319,335
SHAREHOLDERS' FUNDS 9,133,178 8,320,336

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





P P P Keyland - Director


W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 682 7,545,198 319 7,546,199

Changes in equity
Dividends - (4,400,000 ) - (4,400,000 )
Total comprehensive income - 5,174,137 - 5,174,137
Balance at 31 March 2023 682 8,319,335 319 8,320,336

Changes in equity
Dividends - (2,320,000 ) - (2,320,000 )
Total comprehensive income - 3,132,842 - 3,132,842
Balance at 31 March 2024 682 9,132,177 319 9,133,178

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,861,944 8,380,468
Interest paid (7,053 ) -
Tax paid (1,195,885 ) (1,102,786 )
Net cash from operating activities 659,006 7,277,682

Cash flows from investing activities
Purchase of tangible fixed assets (24,049 ) (3,318 )
Interest received 584,628 119,755
Net cash from investing activities 560,579 116,437

Cash flows from financing activities
Amount introduced by directors 39,907 -
Amount withdrawn by directors - (1,535 )
Amounts owed by group undertakings (2,200,000 ) 996,046
Equity dividends paid (2,320,000 ) (4,400,000 )
Net cash from financing activities (4,480,093 ) (3,405,489 )

(Decrease)/increase in cash and cash equivalents (3,260,508 ) 3,988,630
Cash and cash equivalents at
beginning of year

2

14,890,274

10,901,644

Cash and cash equivalents at end of
year

2

11,629,766

14,890,274

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 4,215,719 6,405,783
Depreciation charges 7,873 13,939
Loss on disposal of fixed assets 1,503 -
Finance costs 7,053 -
Finance income (584,628 ) (119,755 )
3,647,520 6,299,967
Decrease/(increase) in stocks 283,719 (331,719 )
Decrease/(increase) in trade and other debtors 2,765,364 (3,753,823 )
(Decrease)/increase in trade and other creditors (4,834,659 ) 6,166,043
Cash generated from operations 1,861,944 8,380,468

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 11,629,766 14,890,274
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 14,890,274 10,901,644


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 14,890,274 (3,260,508 ) 11,629,766
14,890,274 (3,260,508 ) 11,629,766
Total 14,890,274 (3,260,508 ) 11,629,766

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

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


1. STATUTORY INFORMATION

W.G.Wigginton 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The parent company that has prepared consolidated accounts is W G Wigginton Group Limited. Its registered office is at Wigginton House, 1-4 Rockware Avenue, Greenford, Middlesex, UB6 0AA.

Critical accounting judgements and key sources of estimation uncertainty
The directors do not consider there to be any critical accounting judgements.

Key sources of estimation uncertainty
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated and useful economic lives and residual values of the assets. The useful economic lives and residual vales are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. The remaining useful economic life of the asset is considered a key source of estimation uncertainty.

Applications for payment on contracts are made by staff using their wealth of experience and known state of completion against contract value of individual projects alongside any issues. This forms the basis of the application calculation. Inevitably there is the possibility that the customer may have calculated a different value for the application. Approval by the client is ultimately the check on the application value

Accrued costs on part completed contracts at the balance sheet date are calculated by management with appropriate knowledge of the projects and comparison of the job progress against agreed quote and financial information received to date with reference to stage of completion.

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

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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 equipment - 20% on cost and 10% on cost
Motor vehicles - 25% on cost

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

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


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

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.

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.

Operating leases
Rentals payable under operating leases are charged to the income statement on a straight line basis over the period of the lease.

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

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


3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,980,034 1,764,993
Social security costs 238,305 208,624
Other pension costs 90,607 242,436
2,308,946 2,216,053

The average number of employees during the year was as follows:
2024 2023

Production 20 19
Administration 5 4
Directors 3 3
28 26

2024 2023
£    £   
Directors' remuneration 493,640 488,306
Directors' pension contributions to money purchase schemes 60,000 38,873

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 399,050 394,022

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 642 -
Depreciation - owned assets 7,873 13,939
Loss on disposal of fixed assets 1,503 -
Auditors' remuneration 11,000 10,400

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Interest on overdue tax 7,053 -

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

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


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 1,069,965 1,231,646
Adjustment re prior years 12,912 -

Tax on profit 1,082,877 1,231,646

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 4,215,719 6,405,783
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

1,053,930

1,217,099

Effects of:
Expenses not deductible for tax purposes 20,293 12,917
Capital allowances in excess of depreciation (4,258 ) -
Depreciation in excess of capital allowances - 1,630
Adjustments to tax charge in respect of previous periods 12,912 -
Total tax charge 1,082,877 1,231,646

In the Spring budget 2021, the UK government announced that from 1 April 2023 the corporation tax rate would increase to 25% (rather than remaining at 19%, as previously enacted). This new law was substantively enacted and confirmed in the November 2022 Autumn statement.

7. DIVIDENDS
2024 2023
£    £   
Interim 2,320,000 4,400,000

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

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


8. TANGIBLE FIXED ASSETS
Plant and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 April 2023 160,710 64,756 225,466
Additions 24,049 - 24,049
Disposals (63,303 ) - (63,303 )
At 31 March 2024 121,456 64,756 186,212
DEPRECIATION
At 1 April 2023 144,686 64,756 209,442
Charge for year 7,873 - 7,873
Eliminated on disposal (61,800 ) - (61,800 )
At 31 March 2024 90,759 64,756 155,515
NET BOOK VALUE
At 31 March 2024 30,697 - 30,697
At 31 March 2023 16,024 - 16,024

9. STOCKS
2024 2023
£    £   
Stocks 48,000 331,719

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,798,449 7,566,714
Amounts recoverable on contract 1,409,104 454,257
Prepayments 25,216 22,315
6,232,769 8,043,286

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,048,993 4,045,004
Amounts owed to group undertakings 1,808,910 4,008,910
Tax 734,726 847,734
Social security and other taxes 74,406 67,475
VAT 629,991 1,438,737
Other creditors 22,929 22,012
Directors' current accounts 43,230 3,323
Accruals and deferred income 3,444,869 4,527,772
8,808,054 14,960,967

W.G.WIGGINTON LIMITED (REGISTERED NUMBER: 00533562)

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


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6,815 Ordinary 10p 682 682

The Ordinary shares have attached to them full voting, dividend and capital distribution rights.

13. ULTIMATE PARENT COMPANY

W G Wigginton Group Limited is regarded by the directors as being the company's ultimate parent company.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P P P Keyland by virtue of his majority shareholding in the parent company, W G Wigginton Group Limited (registered office as shown on page 1).