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REGISTERED NUMBER: 06399123 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Wolton Engineering Limited

Wolton Engineering Limited (Registered number: 06399123)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Wolton Engineering Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr A Wolton





REGISTERED OFFICE: Severalls Farm
Dennington Road
Saxstead
Woodbridge
Suffolk
IP13 9QN





REGISTERED NUMBER: 06399123 (England and Wales)





ACCOUNTANTS: Emsdens Limited - Chartered Certified Accountants
Ladbrook Close
Elmsett
Ipswich
Suffolk
IP7 6LD

Wolton Engineering Limited (Registered number: 06399123)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,642 44,710

CURRENT ASSETS
Stocks 190,500 235,275
Debtors 5 65,840 10,522
Cash at bank and in hand 1,214 7,172
257,554 252,969
CREDITORS
Amounts falling due within one year 6 251,557 211,964
NET CURRENT ASSETS 5,997 41,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,639

85,715

CREDITORS
Amounts falling due after more than one
year

7

(15,238

)

(25,188

)

PROVISIONS FOR LIABILITIES (9,350 ) (5,839 )
NET ASSETS 44,051 54,688

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 43,951 54,588
SHAREHOLDERS' FUNDS 44,051 54,688

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Wolton Engineering Limited (Registered number: 06399123)

Statement of Financial Position - continued
31 December 2023


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 19 September 2024 and were signed by:





Mr A Wolton - Director


Wolton Engineering Limited (Registered number: 06399123)

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

1. STATUTORY INFORMATION

Wolton Engineering 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.

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

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.

Equipment and motor vehicles - 25% reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

Wolton Engineering Limited (Registered number: 06399123)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 183,549
Additions 39,558
Disposals (4,300 )
At 31 December 2023 218,807
DEPRECIATION
At 1 January 2023 138,839
Charge for year 18,938
Eliminated on disposal (1,612 )
At 31 December 2023 156,165
NET BOOK VALUE
At 31 December 2023 62,642
At 31 December 2022 44,710

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 30,000
Additions 10,000
At 31 December 2023 40,000
DEPRECIATION
At 1 January 2023 13,125
Charge for year 5,261
At 31 December 2023 18,386
NET BOOK VALUE
At 31 December 2023 21,614
At 31 December 2022 16,875

Wolton Engineering Limited (Registered number: 06399123)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 58,276 211
Other debtors 7,564 10,311
65,840 10,522

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 27,862 6,000
Hire purchase contracts 10,950 6,750
Trade creditors 127,457 124,298
Taxation and social security 34,940 45,602
Other creditors 50,348 29,314
251,557 211,964

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 8,500 14,500
Hire purchase contracts 6,738 10,688
15,238 25,188

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Wolton.

The ultimate controlling party is Mr A Wolton.