W. & H. S. EMERY COMPANY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Company Registration No. 00194760 (England and Wales)
W. & H. S. EMERY COMPANY LIMITED
COMPANY INFORMATION
Directors
Mrs C J Jones
Mr J E Hipkins
Secretary
Mr P Welch
Company number
00194760
Registered office
Parr Building Centre
Dunnings Bridge Road
Bootle
L30 6UU
Accountants
DSG Audit
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
Business address
Parr Building Centre
Dunnings Bridge Road
Bootle
L30 6UU
W. & H. S. EMERY COMPANY LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Accountants' report
3
Statement of comprehensive income
4
Balance sheet
5 - 6
Statement of changes in equity
7
Notes to the financial statements
8 - 20
W. & H. S. EMERY COMPANY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The directors present the strategic report for the year ended 31 December 2023.

 

Principal activities

The principal activity of the company in the year under review was that of builders merchants.

Review of the business

The results for the company show a pre-tax profit of £78,063 (2022: £326,492) for the year on sales of £16,099,377 (2022: £17,667,021).

 

The company has net assets of £4,195,595 (2022: £4,141,990).

Principal risks and uncertainties

The management of the business and the execution of the company's strategy are subject to a number of risks.

 

The key business risks and uncertainties affecting the company are considered to relate to the economy in general and the building trade in particular. Other key factors include competition from both national and independent builders merchants, employee retention, and product availability.

 

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

 

Credit risk

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Key performance indicators

The directors are of the opinion that the key performance indicators are turnover and gross profit margin. The decrease in turnover and the decrease in the gross margin in the year was a reflection of the general economic environment.

Future developments

The external commercial environment is expected to remain competitive in 2024. Strategies have been implemented which will ensure that the company remains competitive going forward.

By order of the board

Mr P Welch
Secretary
20 September 2024
W. & H. S. EMERY COMPANY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Results and dividends

The results for the year are set out on page 4.

Ordinary dividends were paid amounting to £8,000. The directors do not recommend payment of a further dividend.

No preference dividends were paid.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mrs C J Jones
Mr J E Hipkins
Post reporting date events

In the opinion of the directors there were no post balance sheet events.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. The company has done so in respect of the principal activities and principal risks of the business.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

By order of the board
Mr P Welch
Secretary
20 September 2024
W. & H. S. EMERY COMPANY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF W. & H. S. EMERY COMPANY LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W. & H. S. Emery Company Limited for the year ended 31 December 2023 set out on pages 4 to 20 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of W. & H. S. Emery Company Limited, as a body, in accordance with the terms of our engagement letter dated 20 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of W. & H. S. Emery Company Limited and state those matters that we have agreed to state to the board of directors of W. & H. S. Emery Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W. & H. S. Emery Company Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that W. & H. S. Emery Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W. & H. S. Emery Company Limited. You consider that W. & H. S. Emery Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of W. & H. S. Emery Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

DSG Audit
20 September 2024
Chartered Accountants
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
W. & H. S. EMERY COMPANY LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2023
2022
Notes
£
£
Turnover
3
16,099,377
17,667,021
Cost of sales
(11,634,309)
(12,813,221)
Gross profit
4,465,068
4,853,800
Distribution costs
(2,305,760)
(2,250,674)
Administrative expenses
(2,081,245)
(2,276,634)
Profit before taxation
78,063
326,492
Tax on profit
7
(16,458)
(61,609)
Profit for the financial year
61,605
264,883

The notes on pages 8 to 20 form part of these financial statements.

W. & H. S. EMERY COMPANY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
9
458,305
315,604
Current assets
Stocks
10
1,666,077
1,869,050
Debtors
11
3,230,605
2,876,832
Cash at bank and in hand
355,921
988,658
5,252,603
5,734,540
Creditors: amounts falling due within one year
12
(1,413,583)
(1,822,882)
Net current assets
3,839,020
3,911,658
Total assets less current liabilities
4,297,325
4,227,262
Provisions for liabilities
Provisions
13
51,560
51,560
Deferred tax liability
14
50,170
33,712
(101,730)
(85,272)
Net assets
4,195,595
4,141,990
Capital and reserves
Called up share capital
16
2,214
2,214
Share premium account
4,990
4,990
Profit and loss reserves
4,188,391
4,134,786
Total equity
4,195,595
4,141,990

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

 

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

W. & H. S. EMERY COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 6 -
The financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
Mrs C J Jones
Director
Company registration number 00194760 (England and Wales)
W. & H. S. EMERY COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2022
2,214
4,990
3,876,903
3,884,107
Year ended 31 December 2022:
Profit and total comprehensive income
-
-
264,883
264,883
Dividends
8
-
-
(7,000)
(7,000)
Balance at 31 December 2022
2,214
4,990
4,134,786
4,141,990
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
61,605
61,605
Dividends
8
-
-
(8,000)
(8,000)
Balance at 31 December 2023
2,214
4,990
4,188,391
4,195,595
W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
1
Accounting policies
Company information

W. & H. S. Emery Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Parr Building Centre, Dunnings Bridge Road, Bootle, L30 6UU.

 

The principal activities of the company are disclosed in the Strategic Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Joseph Parr Group Limited. These consolidated financial statements are available from its registered office, Parr Building Centre, Dunnings Bridge Road, Bootle, L30 6UU.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover in respect of direct sales is recognised on the day of delivery to the customer.

W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 9 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% and 25% straight line
Motor vehicles
25% and 33 1/3% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at average cost. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 10 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 11 -
Basic financial liabilities

Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 12 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 13 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Recoverability of receivables

Management reviews the carrying amount of trade receivables on a regular basis to identify items where recoverability may be in doubt. The timing and quantum of any impairment of receivables is a matter of management judgement.

3
Turnover

An analysis of the company's turnover is as follows:

2023
2022
£
£
Turnover analysed by class of business
Sale of goods
16,099,377
17,667,021
2023
2022
£
£
Turnover analysed by geographical market
United Kingdom
16,099,377
17,667,021
4
Operating profit
2023
2022
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
91,500
83,755
Loss on disposal of tangible fixed assets
2,978
-
Operating lease charges
258,809
259,640
W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 14 -
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Selling and distribution
55
58
Administration
5
6
Total
60
64

Their aggregate remuneration comprised:

2023
2022
£
£
Wages and salaries
2,200,583
2,187,186
Social security costs
228,803
233,661
Pension costs
80,485
74,391
2,509,871
2,495,238
6
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
173,642
230,987
Company pension contributions to defined contribution schemes
21,829
19,658
195,471
250,645

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2022 - 1).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2023
2022
£
£
Remuneration for qualifying services
n/a
227,763
Company pension contributions to defined contribution schemes
n/a
19,658

As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.

W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 15 -
7
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
-
0
80,514
Deferred tax
Origination and reversal of timing differences
16,458
(18,905)
Total tax charge
16,458
61,609

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation
78,063
326,492
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2022: 19.00%)
19,516
62,033
Tax effect of expenses that are not deductible in determining taxable profit
(2,893)
17,275
Permanent capital allowances in excess of depreciation
(165)
(17,699)
Taxation charge for the year
16,458
61,609
8
Dividends
2023
2022
£
£
Final paid
8,000
7,000
W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 16 -
9
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
793,216
490,073
1,283,289
Additions
103,626
139,052
242,678
Disposals
-
0
(54,419)
(54,419)
At 31 December 2023
896,842
574,706
1,471,548
Depreciation and impairment
At 1 January 2023
653,789
313,896
967,685
Depreciation charged in the year
55,996
35,504
91,500
Eliminated in respect of disposals
-
0
(45,942)
(45,942)
At 31 December 2023
709,785
303,458
1,013,243
Carrying amount
At 31 December 2023
187,057
271,248
458,305
At 31 December 2022
139,427
176,177
315,604
10
Stocks
2023
2022
£
£
Finished goods and goods for resale
1,666,077
1,869,050
11
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,527,397
1,902,200
Amounts owed by group undertakings
1,292,561
554,791
Prepayments and accrued income
410,647
419,841
3,230,605
2,876,832

An impairment loss of £48,421 (2022: £217,581) was recognised against trade debtors.

 

Amounts owed by group undertakings are interest free, have no fixed date of repayment and are repayable upon demand.

W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 17 -
12
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,054,499
1,315,647
Amounts owed to group undertakings
69,238
74,203
Corporation tax
-
0
80,514
Other taxation and social security
150,299
177,855
Accruals and deferred income
139,547
174,663
1,413,583
1,822,882

Amounts owed to group undertakings are interest free, have no fixed date of repayment and are repayable upon demand.

13
Provisions for liabilities
2023
2022
£
£
Dilapidations
51,560
51,560
Movements on provisions:
Dilapidations
£
At 1 January 2023 and 31 December 2023
51,560
14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
ACAs
50,170
33,712
2023
Movements in the year:
£
Liability at 1 January 2023
33,712
Charge to profit or loss
16,458
Liability at 31 December 2023
50,170
W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 18 -
15
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
80,485
74,391

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The company also pays into the Joseph Parr Pension & Life Assurance Scheme, which is a defined benefit pension scheme. W & H S Emery Limited are not liable for any deficit/surplus on the scheme, accordingly pension payments of £21,829 (2022: £19,658) have been treated as defined contribution payments in accordance with FRS 102. These pension payments are included in the total above.

16
Share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1,504 Ordinary Shares of £1 each
1,504
1,504
10 A Ordinary Shares of £1 each
10
10
1,514
1,514
Preference share capital
Issued and fully paid
700 4.2% Preference Shares (formerly 6% gross) of £1 each
700
700
Total equity share capital
2,214
2,214

The A Ordinary shares shall have the same voting rights as the existing Ordinary shares, shall have the right to a dividend in favour of the A Ordinary shares and be entitled to and participate in any return of capital by the Company to its shareholders.

17
Financial commitments, guarantees and contingent liabilities

The company has given a joint and several guarantee and a fixed and floating charge to secure its own indebtedness and the indebtedness of other companies in the group to the group's bankers. At the Balance Sheet date the maximum liability for the company amounted to £nil (2022: £nil).

W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 19 -
18
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023
2022
£
£
Within one year
206,010
70,670
Between two and five years
533,916
137,927
739,926
208,597
19
Related party transactions
Transactions with related parties
Sales
Sales
Purchases
Purchases
2023
2022
2023
2022
£
£
£
£
Sale of goods
25,344
86,095
-
-
Purchase of goods
-
0
-
0
51,110
151,341
2023
2022
£
£
Rent expense
150,500
150,500
Management charge
255,000
475,000

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Amounts owed to group entities
69,238
74,203

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Amounts owed by group entities
1,292,561
554,791
W. & H. S. EMERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 20 -
20
Ultimate controlling party

The parent company is Joseph Parr Group Limited, a company incorporated in Great Britain and registered in England and Wales and registered office is Parr Building Centre, Dunnings Bridge Road, Bootle, Merseyside, L30 6UU. Joseph Parr Group Limited prepares consolidated financial statements which includes W & H S Emery Company Limited.

 

The smallest and largest group into which the results of this entity are consolidated is that headed by Joseph Parr Group Limited.

 

The directors are of the opinion that Joseph Parr Group Limited is controlled by Mrs C Jones.

 

 

 

2023-12-312023-01-01falseCCH SoftwareCCH Accounts Production 2024.200No description of principal activityMrs C J JonesMr J E HipkinsMr P Welchfalsefalse001947602023-01-012023-12-3100194760bus:Director12023-01-012023-12-3100194760bus:Director22023-01-012023-12-3100194760bus:CompanySecretaryDirector12023-01-012023-12-3100194760bus:CompanySecretary12023-01-012023-12-3100194760bus:RegisteredOffice2023-01-012023-12-31001947602023-12-31001947602022-01-012022-12-3100194760core:RetainedEarningsAccumulatedLosses2022-01-012022-12-3100194760core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31001947602022-12-3100194760core:PlantMachinery2023-12-3100194760core:MotorVehicles2023-12-3100194760core:PlantMachinery2022-12-3100194760core:MotorVehicles2022-12-3100194760core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3100194760core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3100194760core:CurrentFinancialInstruments2023-12-3100194760core:CurrentFinancialInstruments2022-12-3100194760core:ShareCapital2023-12-3100194760core:ShareCapital2022-12-3100194760core:SharePremium2023-12-3100194760core:SharePremium2022-12-3100194760core:RetainedEarningsAccumulatedLosses2023-12-3100194760core:RetainedEarningsAccumulatedLosses2022-12-3100194760core:ShareCapital2021-12-3100194760core:SharePremium2021-12-3100194760core:RetainedEarningsAccumulatedLosses2021-12-3100194760core:ShareCapitalOrdinaryShares2023-12-3100194760core:ShareCapitalOrdinaryShares2022-12-3100194760core:PlantMachinery2023-01-012023-12-3100194760core:MotorVehicles2023-01-012023-12-3100194760core:UKTax2023-01-012023-12-3100194760core:UKTax2022-01-012022-12-3100194760core:PlantMachinery2022-12-3100194760core:MotorVehicles2022-12-31001947602022-12-3100194760core:WithinOneYear2023-12-3100194760core:WithinOneYear2022-12-3100194760core:BetweenTwoFiveYears2023-12-3100194760core:BetweenTwoFiveYears2022-12-3100194760core:AllSubsidiariescore:SaleOrPurchaseGoods2023-01-012023-12-3100194760core:AllSubsidiariescore:SaleOrPurchasePropertyOrOtherAssets2022-01-012022-12-3100194760bus:PrivateLimitedCompanyLtd2023-01-012023-12-3100194760bus:FRS1022023-01-012023-12-3100194760bus:AuditExemptWithAccountantsReport2023-01-012023-12-3100194760bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP