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REGISTERED NUMBER: 06769293 (England and Wales)














Financial Statements for the Year Ended 31 December 2023

for

Andrews & Wykeham Limited

Andrews & Wykeham Limited (Registered number: 06769293)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Andrews & Wykeham Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr L J Collier
Mr J C Willis
Mr M O Zolotukhin
Mr A J Webb





REGISTERED OFFICE: Lutyens Building Kingsland Business Park
Bilton Road
Basingstoke
RG24 8LJ





REGISTERED NUMBER: 06769293 (England and Wales)





AUDITORS: Nordens Audit Limited
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Andrews & Wykeham Limited (Registered number: 06769293)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 244,924 421,887

CURRENT ASSETS
Stocks 5 962,784 1,030,634
Debtors 6 2,416,412 2,373,547
Cash at bank and in hand 769,689 184,814
4,148,885 3,588,995
CREDITORS
Amounts falling due within one year 7 1,117,687 765,583
NET CURRENT ASSETS 3,031,198 2,823,412
TOTAL ASSETS LESS CURRENT LIABILITIES 3,276,122 3,245,299

CREDITORS
Amounts falling due after more than one
year

8

844,755

1,233,644
NET ASSETS 2,431,367 2,011,655

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 157,667 140,778
Retained earnings 2,273,600 1,870,777
SHAREHOLDERS' FUNDS 2,431,367 2,011,655

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2024 and were signed on its behalf by:





Mr J C Willis - Director


Andrews & Wykeham Limited (Registered number: 06769293)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Andrews & Wykeham 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover is recognised on an accruals basis to the extent that it is probable that future economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, net of discounts, rebates and Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 10 years
Plant and machinery - Straight line over 10 years
Fixtures and fittings - Straight line over 5 years
Motor vehicles - Straight line over 3 years
Computer equipment - Straight line over 3 years

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

At the end of the each reporting period, inventories are assessed for impairment. If an item of inventory is impaired, the identified inventory is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required, the impairment charge is reversed up to the original impairment loss and is recognised as a credit in the profit and loss account.

Andrews & Wykeham Limited (Registered number: 06769293)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Unless otherwise indicated, the carrying amounts of financial assets and liabilities are at a reasonable estimate of their fair values.

Financial assets

The company's financial assets comprise basic financial assets, being trade and other receivables, and cash and bank balances.

Cash is represented by cash in hand and deposits held at call with banks.

Trade and other receivables are measured at transaction price less any impairment. Any impairment loss is recognised in the statement of comprehensive income.

An impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets are derecognised when the contractual rights to the cash flows from the financial assets expire or are settled, or when substantially all the risks and rewards of the ownership of the asset are transferred.

Financial liabilities

The company's financial liabilities comprise basic financial liabilities, being trade and other payables. These are measured at the transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Other financial liabilities

Borrowings from related parties which constitute a financing transaction are initially recognised at the fair value of the proceeds, net of related transaction costs. These transaction costs and any discounts are subsequently amortised under the effective interest rate method through the income statement as interest over the life of the loan and added to the liability disclosed in the balance sheet. Related accrued interest is included in the borrowings figure.

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.


Andrews & Wykeham Limited (Registered number: 06769293)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the term 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.

Going concern
These financial statements have been prepared on a going concern basis on the assumption that support from the company's parent will continue. Furthermore, except for amounts due to the company's parent and fellow subsidiary undertakings, the company's main creditor is deferred support contract income, and so does not represent liabilities requiring payment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 31 ) .

Andrews & Wykeham Limited (Registered number: 06769293)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2023 315,734 3,099,413 118,392
Additions 800 8,291 -
Disposals (61,755 ) (21,235 ) (39,714 )
At 31 December 2023 254,779 3,086,469 78,678
DEPRECIATION
At 1 January 2023 293,651 2,777,653 117,419
Charge for year 11,277 128,685 277
Eliminated on disposal (61,755 ) (20,513 ) (39,714 )
At 31 December 2023 243,173 2,885,825 77,982
NET BOOK VALUE
At 31 December 2023 11,606 200,644 696
At 31 December 2022 22,083 321,760 973

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 179,240 200,767 3,913,546
Additions - 1,057 10,148
Disposals (69,860 ) (53,389 ) (245,953 )
At 31 December 2023 109,380 148,435 3,677,741
DEPRECIATION
At 1 January 2023 103,522 199,414 3,491,659
Charge for year 33,183 963 174,385
Eliminated on disposal (58,367 ) (52,878 ) (233,227 )
At 31 December 2023 78,338 147,499 3,432,817
NET BOOK VALUE
At 31 December 2023 31,042 936 244,924
At 31 December 2022 75,718 1,353 421,887

5. STOCKS
31.12.23 31.12.22
£    £   
Stocks 962,784 1,030,634

Andrews & Wykeham Limited (Registered number: 06769293)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 903,909 981,924
Amounts owed by group undertakings 1,124,444 813,333
Other debtors 388,059 578,290
2,416,412 2,373,547

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 440,617 322,674
Taxation and social security 214,424 47,805
Other creditors 462,646 395,104
1,117,687 765,583

The company holds an overdraft facility with The Royal Bank of Scotland PLc which contains a fixed and floating charge covering all the property or undertaking of the company. The company is not currently operating within the overdraft of the bank account.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 844,755 1,233,644

This balance within other creditors consists of the loan from the Rilian Corp and interest accrued thereon. The loan is interest bearing and unsecured.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 198,980 194,114
Between one and five years 795,920 795,920
In more than five years 621,813 820,793
1,616,713 1,810,827

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lorraine Curtis BFP ACA FCCA (Senior Statutory Auditor)
for and on behalf of Nordens Audit Limited

Andrews & Wykeham Limited (Registered number: 06769293)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES

Transactions with Parent

Other than the related party transactions disclosed in note 10 to the financial statements, the company has paid no dividends to its parent in this or the preceding year.

Key Management Personnel

The directors of the company, Mr J Willis and Mr M Zolotukhin, who are also majority shareholders of the parent company, Andrews & Wykeham Holdings Limited are considered to be key management personnel. Key management personnel received total emoluments amounting to £409,932 (2022: £318,333) in the year for services undertaken on behalf of the company.