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REGISTERED NUMBER: 04561299 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Wolfenden Concrete Limited

Wolfenden Concrete Limited (Registered number: 04561299)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wolfenden Concrete Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R Moody





REGISTERED OFFICE: Eden Works
Colne Road Kelbrook
Barnoldswick
Lancashire
BB18 6SY





REGISTERED NUMBER: 04561299 (England and Wales)





ACCOUNTANTS: Lindley Adams Limited Chartered Accountants
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG

Wolfenden Concrete Limited (Registered number: 04561299)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 189 203
Tangible assets 5 348,897 333,094
349,086 333,297

CURRENT ASSETS
Stocks 291,362 295,362
Debtors 6 2,202,464 2,047,449
Cash in hand 1,090 7,550
2,494,916 2,350,361
CREDITORS
Amounts falling due within one year 7 881,968 644,162
NET CURRENT ASSETS 1,612,948 1,706,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,962,034

2,039,496

CREDITORS
Amounts falling due after more than one
year

8

(342,493

)

(437,614

)

PROVISIONS FOR LIABILITIES (77,966 ) (72,278 )
NET ASSETS 1,541,575 1,529,604

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,541,475 1,529,504
1,541,575 1,529,604

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Wolfenden Concrete Limited (Registered number: 04561299)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 9 August 2024 and were signed by:





R Moody - Director


Wolfenden Concrete Limited (Registered number: 04561299)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Wolfenden Concrete Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Wolfenden Concrete Limited (Registered number: 04561299)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Dilapidation provision
Due to the signing of a lease the Company has a responsibility to maintain the plant and site where it operates. A provision for dilapidations is made equal to the cost of the repairs incurred in the previous 12 months with reference to the accounting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 100,000 270 100,270
AMORTISATION
At 1 April 2023 100,000 67 100,067
Charge for year - 14 14
At 31 March 2024 100,000 81 100,081
NET BOOK VALUE
At 31 March 2024 - 189 189
At 31 March 2023 - 203 203

Wolfenden Concrete Limited (Registered number: 04561299)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 802,181 4,205 267,890 26,975 1,101,251
Additions 19,082 4,643 106,459 2,100 132,284
Disposals - - (41,359 ) - (41,359 )
At 31 March 2024 821,263 8,848 332,990 29,075 1,192,176
DEPRECIATION
At 1 April 2023 504,872 2,993 235,547 24,745 768,157
Charge for year 69,337 495 28,557 1,007 99,396
Eliminated on disposal - - (24,274 ) - (24,274 )
At 31 March 2024 574,209 3,488 239,830 25,752 843,279
NET BOOK VALUE
At 31 March 2024 247,054 5,360 93,160 3,323 348,897
At 31 March 2023 297,309 1,212 32,343 2,230 333,094

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 285,101 41,359 326,460
Additions - 106,459 106,459
Disposals - (41,359 ) (41,359 )
At 31 March 2024 285,101 106,459 391,560
DEPRECIATION
At 1 April 2023 163,264 23,911 187,175
Charge for year 27,289 26,614 53,903
Eliminated on disposal - (24,274 ) (24,274 )
At 31 March 2024 190,553 26,251 216,804
NET BOOK VALUE
At 31 March 2024 94,548 80,208 174,756
At 31 March 2023 121,837 17,448 139,285

Wolfenden Concrete Limited (Registered number: 04561299)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 214,934 190,231
Amounts recoverable on contract 47,478 15,000
Wolfenden Holdings loan 1,909,158 1,814,416
Directors' loan accounts 10,892 6,725
Prepayments 20,002 21,077
2,202,464 2,047,449

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 316,061 94,205
Hire purchase contracts (see note 9) 107,469 86,109
Trade creditors 377,918 340,857
Tax 16,556 8,542
Social security and other taxes 20,261 8,485
VAT 14,260 22,601
Other creditors 13,191 60,692
Accrued expenses 16,252 22,671
881,968 644,162

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 146,024 85,860
Bank loans - 2-5 years 3,333 97,828
Hire purchase contracts (see note 9) 193,136 253,926
342,493 437,614

Wolfenden Concrete Limited (Registered number: 04561299)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Gross obligations repayable:
Within one year 128,546 106,958
Between one and five years 221,573 294,739
350,119 401,697

Finance charges repayable:
Within one year 21,077 20,849
Between one and five years 28,437 40,813
49,514 61,662

Net obligations repayable:
Within one year 107,469 86,109
Between one and five years 193,136 253,926
300,605 340,035

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 30,000 30,456

10. CONTINGENT LIABILITIES

Under the terms of an existing lease the company may incur repair costs in excess of previously provided amounts.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
R Moody
Balance outstanding at start of year 6,725 2,579
Amounts advanced 105,410 92,417
Amounts repaid (101,242 ) (88,271 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,893 6,725

Wolfenden Concrete Limited (Registered number: 04561299)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


12. ULTIMATE CONTROLLING PARTY

The controlling party is Wolfenden Concrete Holdings Limited.

The ultimate controlling party is R Moody.