Caseware UK (AP4) 2023.0.135 2023.0.135 20falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-12-01property development and rentals20true 00541096 2022-12-01 2023-11-30 00541096 2021-12-01 2022-11-30 00541096 2023-11-30 00541096 2022-11-30 00541096 2021-12-01 00541096 c:Director2 2022-12-01 2023-11-30 00541096 d:Buildings 2022-12-01 2023-11-30 00541096 d:Buildings 2023-11-30 00541096 d:Buildings 2022-11-30 00541096 d:Buildings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 00541096 d:PlantMachinery 2022-12-01 2023-11-30 00541096 d:PlantMachinery 2023-11-30 00541096 d:PlantMachinery 2022-11-30 00541096 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 00541096 d:MotorVehicles 2022-12-01 2023-11-30 00541096 d:MotorVehicles 2023-11-30 00541096 d:MotorVehicles 2022-11-30 00541096 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 00541096 d:OfficeEquipment 2022-12-01 2023-11-30 00541096 d:OfficeEquipment 2023-11-30 00541096 d:OfficeEquipment 2022-11-30 00541096 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 00541096 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 00541096 d:FreeholdInvestmentProperty 2022-11-30 00541096 d:CurrentFinancialInstruments 2023-11-30 00541096 d:CurrentFinancialInstruments 2022-11-30 00541096 d:Non-currentFinancialInstruments 2023-11-30 00541096 d:Non-currentFinancialInstruments 2022-11-30 00541096 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 00541096 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 00541096 d:ShareCapital 2023-11-30 00541096 d:ShareCapital 2022-11-30 00541096 d:ShareCapital 2021-12-01 00541096 d:CapitalRedemptionReserve 2023-11-30 00541096 d:CapitalRedemptionReserve 2022-11-30 00541096 d:CapitalRedemptionReserve 2021-12-01 00541096 d:RevaluationReserve 2023-11-30 00541096 d:RevaluationReserve 2022-11-30 00541096 d:RevaluationReserve 2021-12-01 00541096 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 00541096 d:RetainedEarningsAccumulatedLosses 2023-11-30 00541096 d:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 00541096 d:RetainedEarningsAccumulatedLosses 2022-11-30 00541096 d:RetainedEarningsAccumulatedLosses 2021-12-01 00541096 c:FRS102 2022-12-01 2023-11-30 00541096 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 00541096 c:FullAccounts 2022-12-01 2023-11-30 00541096 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 00541096 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 00541096 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 00541096 d:OtherDeferredTax 2023-11-30 00541096 d:OtherDeferredTax 2022-11-30 00541096 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure
Registered number: 00541096





 
Carter and Ward of Wickford Limited          
 
Financial Statements          

For the Year Ended 30 November 2023          

 
Carter and Ward of Wickford Limited
Registered number:00541096

Balance Sheet
As at 30 November 2023


2023 

2022 
                                                                         Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
159,912
120,318

Investment property
 5 
12,392,634
12,392,634

  
12,552,546
12,512,952

Current assets
  

Stock
 6 
14,777,777
12,727,184

Debtors
 7 
1,563,169
1,493,145

Cash at bank and in hand
 8 
1,814,884
3,389,943

  
18,155,830
17,610,272

Creditors: amounts falling due within one year
 9 
(882,887)
(699,318)

Net current assets
  
 
 
17,272,943
 
 
16,910,954

Total assets less current liabilities
  
29,825,489
29,423,906

Provisions for liabilities
  

Deferred tax
 10 
(1,585,115)
(1,581,279)

Net assets
  
28,240,374
27,842,627


Capital and reserves
  

Called up share capital 
  
80,000
80,000

Investment property revaluation reserve
  
7,819,561
7,819,561

Capital redemption reserve
  
20,000
20,000

Profit and loss account
  
20,320,813
19,923,066

  
28,240,374
27,842,627


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

 
Page 1

 
Carter and Ward of Wickford Limited
Registered number:00541096
    
Balance Sheet (continued)
As at 30 November 2023


The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 15 August 2024.







P.B. Carter
Director






















The notes on pages 4 to 11 form part of these financial statements.
Page 2

 
Carter and Ward of Wickford Limited
 

Statement of Changes in Equity
For the Year Ended 30 November 2023


Called up share capital
Capital redemption reserve
Investment
property
revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 December 2022
80,000
20,000
7,819,561
19,923,066
27,842,627



Profit for the year
-
-
-
397,747
397,747


At 30 November 2023
80,000
20,000
7,819,561
20,320,813
28,240,374



 
 
 
 
 
 
 
 
Statement of Changes in Equity
For the Year Ended 30 November 2022


Called up share capital
Capital redemption reserve
Investment
property
revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 December 2021
80,000
20,000
7,819,561
19,829,447
27,749,008



Profit for the year
-
-
-
93,619
93,619


At 30 November 2022
80,000
20,000
7,819,561
19,923,066
27,842,627









The notes on pages 4 to 11 form part of these financial statements.
Page 3

 
Carter and Ward of Wickford Limited
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

1.


General information

Carter and Ward of Wickford Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HJ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
Carter and Ward of Wickford Limited
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rates:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20% - 33.33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors, having regard to professional advice taken personally, and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.5

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
Carter and Ward of Wickford Limited
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
Carter and Ward of Wickford Limited
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
4
4



Administration
5
6



Production and sales
11
10

20
20

Page 7

 
Carter and Ward of Wickford Limited
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost 


At 1 December 2022
32,236
578,916
240,144
156,167
1,007,463


Additions
-
267
76,818
1,302
78,387


Disposals
-
(25,000)
(78,251)
-
(103,251)



At 30 November 2023

32,236
554,183
238,711
157,469
982,599



Depreciation


At 1 December 2022
-
529,513
207,794
149,837
887,144


Charge for the year 
-
11,072
17,286
2,223
30,581


Disposals
-
(23,592)
(71,446)
-
(95,038)



At 30 November 2023

-
516,993
153,634
152,060
822,687



Net book value



At 30 November 2023
32,236
37,190
85,077
5,409
159,912



At 30 November 2022
32,236
49,402
32,350
6,330
120,318

Page 8

 
Carter and Ward of Wickford Limited
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022 and 30 November 2023
12,392,634

The 2023 valuations were made by the directors, having regard to professional advice taken personally, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
3,014,862
3,014,862

Accumulated depreciation and impairments
-
-

3,014,862
3,014,862


6.


Stock

2023
2022
£
£

Work in progress
14,777,777
12,727,184


Page 9

 
Carter and Ward of Wickford Limited
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

7.


Debtors


2023
2022
£
£

Due after more than one year

Other debtors
827,468
827,468

Due within one year

Trade debtors
180,178
121,695

Other debtors
516,785
500,396

Prepayments and accrued income
38,738
43,586

1,563,169
1,493,145



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,814,884
3,389,943



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
208,494
190,701

Corporation tax
108,540
26,813

Other taxation and social security
66,473
45,474

Other creditors
460,888
401,428

Accruals and deferred income
38,492
34,902

882,887
699,318


Page 10

 
Carter and Ward of Wickford Limited
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
1,581,279
1,572,771


Charged for the year
3,836
8,508



At end of year
1,585,115
1,581,279

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
26,904
23,068

Unrealised surplus on investment properties
1,558,211
1,558,211

1,585,115
1,581,279


11.


Related party transactions

At the balance sheet date the company was owed £197,500 (2022 - £197,500) by Carfox Plant Hire Co. Limited, an associated company. No interest was charged on this balance.
At the balance sheet date the company was owed £Nil 
(2022 - £100) by Beauchamps Farm Limited, another associated company. No interest was charged on this balance. 
During the year the company provided services totalling £3,018 
(2022 - £677) to Carfox Plant Hire Co. Limited. The company also provided services totalling £9,566 (2022 - £3,470) to Beauchamps Farms Limited.


12.


Pension commitments

The company operates two defined contributions pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost represents contributions payable by the company to the funds and amounted to £62,040 (2022 - £54,843). Contributions totalling £750 (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11