IRIS Accounts Production v24.2.0.383 04199736 Board of Directors 31.3.24 1.4.23 31.3.24 31.3.24 true true true false true true false false false false true false Ordinary 0.10000 A Ordinary 0.10000 B Ordinary 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041997362023-03-31041997362024-03-31041997362023-04-012024-03-31041997362022-03-31041997362022-04-012023-03-31041997362023-03-3104199736ns15:EnglandWales2023-04-012024-03-3104199736ns14:PoundSterling2023-04-012024-03-3104199736ns10:Director12023-04-012024-03-3104199736ns10:Consolidated2024-03-3104199736ns10:ConsolidatedGroupCompanyAccounts2023-04-012024-03-3104199736ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104199736ns10:Consolidatedns10:FRS1022023-04-012024-03-3104199736ns10:Consolidatedns10:Audited2023-04-012024-03-3104199736ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3104199736ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3104199736ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3104199736ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-04-012024-03-3104199736ns10:FullAccounts2023-04-012024-03-3104199736ns5:Subsidiary12023-04-012024-03-3104199736ns5:Subsidiary22023-04-012024-03-3104199736ns10:OrdinaryShareClass12023-04-012024-03-3104199736ns10:OrdinaryShareClass22023-04-012024-03-3104199736ns10:OrdinaryShareClass32023-04-012024-03-3104199736ns10:Consolidated2023-04-012024-03-3104199736ns10:Director22023-04-012024-03-3104199736ns10:CompanySecretary12023-04-012024-03-3104199736ns10:RegisteredOffice2023-04-012024-03-3104199736ns10:Consolidated2022-04-012023-03-3104199736ns5:CurrentFinancialInstruments2024-03-3104199736ns5:CurrentFinancialInstruments2023-03-3104199736ns5:ShareCapital2024-03-3104199736ns5:ShareCapital2023-03-3104199736ns5:RetainedEarningsAccumulatedLosses2024-03-3104199736ns5:RetainedEarningsAccumulatedLosses2023-03-3104199736ns5:ShareCapital2022-03-3104199736ns5:RetainedEarningsAccumulatedLosses2022-03-3104199736ns5:FurtherSpecificReserve1ComponentTotalEquity2022-03-3104199736ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3104199736ns5:FurtherSpecificReserve1ComponentTotalEquity2022-04-012023-03-3104199736ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3104199736ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3104199736ns5:FurtherSpecificReserve1ComponentTotalEquity2023-04-012024-03-3104199736ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-310419973612023-04-012024-03-3104199736ns5:FurnitureFittings2023-04-012024-03-3104199736ns5:MotorVehicles2023-04-012024-03-3104199736ns5:ListedExchangeTradedns5:CostValuation2023-03-3104199736ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-03-3104199736ns5:ListedExchangeTradedns5:AdditionsToInvestments2024-03-3104199736ns5:UnlistedNon-exchangeTradedns5:AdditionsToInvestments2024-03-3104199736ns5:DisposalsRepaymentsInvestmentsns5:ListedExchangeTraded2024-03-3104199736ns5:DisposalsRepaymentsInvestmentsns5:UnlistedNon-exchangeTraded2024-03-3104199736ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestmentsns5:ListedExchangeTraded2024-03-3104199736ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestmentsns5:UnlistedNon-exchangeTraded2024-03-3104199736ns5:ListedExchangeTradedns5:CostValuation2024-03-3104199736ns5:UnlistedNon-exchangeTradedns5:CostValuation2024-03-3104199736ns5:ListedExchangeTraded2024-03-3104199736ns5:UnlistedNon-exchangeTraded2024-03-3104199736ns5:ListedExchangeTraded2023-03-3104199736ns5:UnlistedNon-exchangeTraded2023-03-3104199736ns5:Subsidiary112023-04-012024-03-3104199736ns5:Subsidiary12024-03-3104199736ns5:Subsidiary12023-03-3104199736ns5:Subsidiary12022-04-012023-03-31041997363ns5:Subsidiary22023-04-012024-03-3104199736ns5:Subsidiary22024-03-3104199736ns5:Subsidiary22023-03-3104199736ns5:Subsidiary22022-04-012023-03-3104199736ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104199736ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104199736ns10:OrdinaryShareClass12024-03-3104199736ns10:OrdinaryShareClass22024-03-3104199736ns10:OrdinaryShareClass32024-03-31
REGISTERED NUMBER: 04199736 (England and Wales)






















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

W.G. WIGGINTON GROUP LIMITED

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


W.G. WIGGINTON GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P P P Keyland
Mrs R Keyland





SECRETARY: P P P Keyland





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





REGISTERED NUMBER: 04199736 (England and Wales)





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

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their strategic report of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
The group comprises of W G Wigginton Group Limited, W G Wigginton Limited and W G Wigginton properties Limited. W G Wigginton Limited is the main trading company in the group and was established in 1926. It 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 group'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 subsidiary 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 group had current bank balances of £19.79 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 group for the foreseeable future.

Competition
The group 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 directors consider the key financial performance indicators to be those that communicate the financial performance and strength of the group as follows:

2024 2023
£ £
Turnover 25,049,348 23,515,698
Gross profit 4,769,877 7,386,113
Cash at bank and in hand 19,791,094 18,793,075

ON BEHALF OF THE BOARD:





P P P Keyland - Director


29 August 2024

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


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

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of electrical, mechanical and related specialist services and investments in stock markets.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £ 520,000 .

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
Mrs R Keyland

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

DISCLOSURE IN THE STRATEGIC REPORT
The Directors have chosen to include details of future developments and principal risks and uncertainties in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


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 group'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 group's auditors are aware of that information.

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 GROUP LIMITED


Opinion
We have audited the financial statements of W.G. Wigginton Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 March 2024 and of the group's 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 group 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 group's and the parent 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 Group 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.

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


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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 group's and the parent 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 group or the parent 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 GROUP LIMITED


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 GROUP LIMITED (REGISTERED NUMBER: 04199736)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £    £    £   

TURNOVER 25,049,348 23,515,698

Cost of sales 20,279,471 16,129,585
GROSS PROFIT 4,769,877 7,386,113

Administrative expenses 1,122,149 1,106,989
3,647,728 6,279,124

Other operating income (98,685 ) (71,507 )
OPERATING PROFIT 4 3,549,043 6,207,617

Income from fixed asset investments 127,575 102,793
Interest receivable and similar income 885,089 169,957
1,012,664 272,750
4,561,707 6,480,367
Gain/loss on revaluation of assets 396,516 (363,037 )
4,958,223 6,117,330

Interest payable and similar expenses 5 7,053 -
PROFIT BEFORE TAXATION 4,951,170 6,117,330

Tax on profit 6 1,156,180 1,269,284
PROFIT FOR THE FINANCIAL YEAR 3,794,990 4,848,046
Profit attributable to:
Owners of the parent 3,794,990 4,848,046

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 3,794,990 4,848,046


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,794,990

4,848,046

Total comprehensive income attributable to:
Owners of the parent 3,794,990 4,848,046

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 30,697 16,024
Investments 10 4,867,148 4,499,934
Investment property 11 2,261,961 2,261,961
7,159,806 6,777,919

CURRENT ASSETS
Stocks 12 48,000 331,719
Debtors 13 6,347,466 8,045,785
Cash at bank and in hand 14 19,791,093 18,793,075
26,186,559 27,170,579
CREDITORS
Amounts falling due within one year 15 7,111,590 10,988,713
NET CURRENT ASSETS 19,074,969 16,181,866
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,234,775

22,959,785

PROVISIONS FOR LIABILITIES 17 62,500 62,500
NET ASSETS 26,172,275 22,897,285

CAPITAL AND RESERVES
Called up share capital 18 783 783
Capital redemption reserve 319 319
Retained earnings 26,171,173 22,896,183
SHAREHOLDERS' FUNDS 26,172,275 22,897,285

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 GROUP LIMITED (REGISTERED NUMBER: 04199736)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 - -
Investments 10 4,867,831 4,500,617
Investment property 11 - -
4,867,831 4,500,617

CURRENT ASSETS
Debtors 13 3,706,575 5,813,022
Cash at bank 14 7,506,458 3,329,613
11,213,033 9,142,635
CREDITORS
Amounts falling due within one year 15 67,122 14,070
NET CURRENT ASSETS 11,145,911 9,128,565
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,013,742

13,629,182

CAPITAL AND RESERVES
Called up share capital 18 783 783
Retained earnings 16,012,959 13,628,399
SHAREHOLDERS' FUNDS 16,013,742 13,629,182

Company's profit for the financial year 2,904,560 3,840,389

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 GROUP LIMITED (REGISTERED NUMBER: 04199736)

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

Called up Capital
share Retained redemption Other Total
capital earnings reserve reserves equity
£    £    £    £    £   
Balance at 1 April 2022 783 18,296,128 319 152,009 18,449,239

Changes in equity
Dividends - (400,000 ) - - (400,000 )
Total comprehensive income - 5,000,055 - (152,009 ) 4,848,046
Balance at 31 March 2023 783 22,896,183 319 - 22,897,285

Changes in equity
Dividends - (520,000 ) - - (520,000 )
Total comprehensive income - 3,794,990 - - 3,794,990
Balance at 31 March 2024 783 26,171,173 319 - 26,172,275

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 April 2022 783 10,036,001 152,009 10,188,793

Changes in equity
Dividends - (400,000 ) - (400,000 )
Total comprehensive income - 3,992,398 (152,009 ) 3,840,389
Balance at 31 March 2023 783 13,628,399 - 13,629,182

Changes in equity
Dividends - (520,000 ) - (520,000 )
Total comprehensive income - 2,904,560 - 2,904,560
Balance at 31 March 2024 783 16,012,959 - 16,013,742

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,772,612 8,379,561
Interest paid (7,053 ) -
Tax paid (1,206,680 ) (1,117,758 )
Net cash from operating activities 558,879 7,261,803

Cash flows from investing activities
Purchase of tangible fixed assets (24,049 ) (3,318 )
Purchase of fixed asset investments (1,325,070 ) (1,137,371 )
Sale of fixed asset investments 1,255,687 990,175
Interest received 885,089 169,957
Dividends received 127,575 102,793
Net cash from investing activities 919,232 122,236

Cash flows from financing activities
Amount introduced by directors 39,907 -
Amount withdrawn by directors - (1,534 )
Equity dividends paid (520,000 ) (400,000 )
Net cash from financing activities (480,093 ) (401,534 )

Increase in cash and cash equivalents 998,018 6,982,505
Cash and cash equivalents at
beginning of year

2

18,793,075

11,810,570

Cash and cash equivalents at end of
year

2

19,791,093

18,793,075

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

NOTES TO THE CONSOLIDATED 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 4,951,170 6,117,330
Depreciation charges 7,873 13,939
Loss on disposal of fixed assets 100,188 71,507
(Gain)/loss on revaluation of fixed assets (396,516 ) 363,037
Finance costs 7,053 -
Finance income (1,012,664 ) (272,750 )
3,657,104 6,293,063
Decrease/(increase) in stocks 283,719 (331,719 )
Decrease/(increase) in trade and other debtors 1,698,319 (3,754,340 )
(Decrease)/increase in trade and other creditors (3,866,530 ) 6,172,557
Cash generated from operations 1,772,612 8,379,561

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 19,791,093 18,793,075
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 18,793,075 11,810,570


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 18,793,075 998,018 19,791,093
Less: Deposits treated as
liquid resources - (4,000,000 ) (4,000,000 )
18,793,075 (3,001,982 ) 15,791,093

Liquid resources
Deposits included in cash - 4,000,000 4,000,000
- 4,000,000 4,000,000
Total 18,793,075 998,018 19,791,093

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


1. STATUTORY INFORMATION

W.G. Wigginton Group 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 General 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 as modified by the revaluation of certain assets.

Basis of consolidation
The consolidated financial statements incorporate the audited financial statements of its subsidiaries, W G Wigginton Limited and W G Wigginton Properties Limited.

Advantage has been taken of section 408 of the Companies Act 2006 not to include the company's individual profit and loss account.

Subsidiaries
A subsidiary is an entity in which the Group and the Company have power to control the financial and operating policies so as to obtain benefits from its activities. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Group has such power over the other entity.

An investment in a subsidiary, which is eliminated on consolidation, is stated in the Company's separate financial statements at cost less impairment losses, if any.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

The market value of investment properties are determined annually based on information provided by independent professional valuers and publicly available market rate movements. There is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself.

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


2. ACCOUNTING POLICIES - continued
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 represents net invoiced sales of services and rents charged, excluding value added tax.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Consolidated 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.


W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

NOTES TO THE CONSOLIDATED 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.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in listed company shares, which have been classified as current asset investments, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investments in subsidiaries, which have been classified as current asset investments, are held at cost.

Dividend income is recognised when the right to receive payment is established.

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

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,980,034 1,764,993
Social security costs 238,306 208,624
Other pension costs 90,607 242,436
2,308,947 2,216,053

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

Production 21 20
Administration 5 4
Directors 2 2
28 26

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


3. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 96,640 99,539
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 1 1

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 642 -
Depreciation - owned assets 7,873 13,939
Loss on disposal of fixed assets 100,188 71,507
Auditors' remuneration 13,600 12,800
Operating lease expenses 51,000 51,000
Operating lease income (57,500 ) (37,985 )

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Corporation tax interest 7,053 -

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 1,143,268 1,242,441
Adjustment re prior years 12,912 -
Total current tax 1,156,180 1,242,441

Deferred tax - 26,843
Tax on profit 1,156,180 1,269,284

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


6. TAXATION - continued

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

2024 2023
£    £   
Profit before tax 4,951,170 6,117,330
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 19 %)

1,237,793

1,162,293

Effects of:
Expenses not deductible for tax purposes 44,964 26,503
Income not taxable for tax purposes (135,198 ) (67,031 )
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 -
Deferred tax on revaluation of listed investments - 26,843
Tax losses not utilised - 119,046
Marginal relief (33 ) -
Total tax charge 1,156,180 1,269,284

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. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2024 2023
£    £   
A Ordinary shares of 10p each
Interim 474,500 365,000
B Ordinary shares of 10p each
Interim 45,500 35,000
520,000 400,000

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


9. TANGIBLE FIXED ASSETS

Group
Plant and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 April 2023 170,050 64,756 234,806
Additions 24,049 - 24,049
Disposals (63,303 ) - (63,303 )
At 31 March 2024 130,796 64,756 195,552
DEPRECIATION
At 1 April 2023 154,026 64,756 218,782
Charge for year 7,873 - 7,873
Eliminated on disposal (61,800 ) - (61,800 )
At 31 March 2024 100,099 64,756 164,855
NET BOOK VALUE
At 31 March 2024 30,697 - 30,697
At 31 March 2023 16,024 - 16,024

10. FIXED ASSET INVESTMENTS

Group
Listed
investments
£   
COST
At 1 April 2023 4,499,934
Additions 1,325,070
Disposals (1,354,372 )
Revaluations 396,516
At 31 March 2024 4,867,148
NET BOOK VALUE
At 31 March 2024 4,867,148
At 31 March 2023 4,499,934

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


10. FIXED ASSET INVESTMENTS - continued

Company
Listed Unlisted
investments investments Totals
£    £    £   
COST
At 1 April 2023 4,499,934 683 4,500,617
Additions 1,325,070 - 1,325,070
Disposals (1,354,372 ) - (1,354,372 )
Revaluations 396,516 - 396,516
At 31 March 2024 4,867,148 683 4,867,831
NET BOOK VALUE
At 31 March 2024 4,867,148 683 4,867,831
At 31 March 2023 4,499,934 683 4,500,617

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

W G Wigginton Limited
Registered office: Wigginton House, 1-4 Rockware Avenue, Greenford, Middlesex, UB6 0AA
Nature of business: Electrical, mechanical and related services.
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 9,133,178 8,320,336
Profit for the year 3,132,842 5,174,137

W G Wigginton Properties Limited
Registered office: Wigginton House, 1-4 Rockware Avenue, Greenford, Middlesex, UB6 0AA
Nature of business: Property company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,009,336 948,450
Profit for the year 60,886 233,520


Unlisted investments are held at cost and comprise of the equity shares in the subsidiaries.

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


11. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,261,961
NET BOOK VALUE
At 31 March 2024 2,261,961
At 31 March 2023 2,261,961

The directors have valued the investment property at 31 March 2024 based on their knowledge and understanding of the property market. They do not have any recognised professional qualifications in this field.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 250,000
Cost 2,011,961
2,261,961

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

12. STOCKS

Group
2024 2023
£    £   
Stocks 48,000 331,719

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 4,798,449 7,566,714 - -
Amounts owed by group undertakings - - 3,596,321 5,813,022
Amounts recoverable on contract 1,409,104 454,257 - -
Other debtors 886 1,661 - -
Accrued income 110,254 - 110,254 -
Prepayments 28,773 23,153 - -
6,347,466 8,045,785 3,706,575 5,813,022

14. CASH AT BANK AND IN HAND

Cash at bank includes £4 million held in a fixed treasury account. These fund are not available to the group until maturity on 21 October 2024.

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 2,064,785 4,045,005 - -
Tax 808,029 858,529 53,052 -
Social security and other taxes 74,406 67,475 - -
VAT 630,029 1,438,734 - -
Other creditors 22,929 24,562 - -
Directors' current accounts 46,472 6,565 3,242 3,242
Accruals and deferred income 3,464,940 4,547,843 10,828 10,828
7,111,590 10,988,713 67,122 14,070

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 51,000 51,000
Between one and five years 204,000 204,000
In more than five years 76,500 127,500
331,500 382,500

17. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Other timing differences 62,500 62,500

Group
Deferred
tax
£   
Balance at 1 April 2023 62,500
Balance at 31 March 2024 62,500

None of the deferred tax liability is expected to reverse next year. This relates to the timing differences on the revaluation of the investment properties.

W.G. WIGGINTON GROUP LIMITED (REGISTERED NUMBER: 04199736)

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


18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6,825 Ordinary 10p 683 683
500 A Ordinary 10p 50 50
500 B Ordinary 10p 50 50
783 783

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

The A and B Ordinary shares have the following rights:

No voting rights are attached except in the case where the special rights are varied (in such a case each share will carry one vote).

The shares will rank equally with existing ordinary shares to a return of capital on a winding up.

No rights are attached to a share in the surplus assets of the company after a repayment of capital.

19. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P P P Keyland.

20. OPERATING LEASE INCOME

Minimum lease income receivable is as follows:

Group


Non-cancellable operating
leases
2024 2023
£ £
Within one year 6,600 37,985
Between one and five years - 4,140
In more than five years - -
6,600 42,125