Company Registration No. 02537389 (England and Wales)
Verner Wheelock Associates Limited
Unaudited accounts
for the year ended 31 December 2023
Verner Wheelock Associates Limited
Unaudited accounts
Contents
Verner Wheelock Associates Limited
Company Information
for the year ended 31 December 2023
Directors
Dr JV Wheelock
JM Wheelock
AJ Wheelock
Company Number
02537389 (England and Wales)
Registered Office
Brewery Lane Studio, Unit 2
2 Belle Vue Square, Broughton Road
Skipton
North Yorkshire
BD23 1FJ
Accountants
Pearson & Associates
Suite E, Canal Wharf
Eshton Road
Gargrave, Skipton
North Yorkshire
BD23 3SE
Verner Wheelock Associates Limited
Statement of financial position
as at 31 December 2023
Intangible assets
55,200
67,200
Tangible assets
67,604
84,079
Cash at bank and in hand
1,052,872
790,558
Creditors: amounts falling due within one year
(182,911)
(213,801)
Net current assets
1,018,171
767,405
Total assets less current liabilities
1,140,975
918,684
Provisions for liabilities
Deferred tax
(13,154)
(12,511)
Net assets
1,127,821
906,173
Called up share capital
16,800
16,800
Capital redemption reserve
5,950
5,950
Profit and loss account
1,105,071
883,423
Shareholders' funds
1,127,821
906,173
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2023 and were signed on its behalf by
AJ Wheelock
Director
Company Registration No. 02537389
Verner Wheelock Associates Limited
Notes to the Accounts
for the year ended 31 December 2023
Verner Wheelock Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 02537389. The registered office is Brewery Lane Studio, Unit 2, 2 Belle Vue Square, Broughton Road, Skipton, North Yorkshire, BD23 1FJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on Cost
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% on Cost
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Verner Wheelock Associates Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill
At 31 December 2023
120,000
Charge for the year
12,000
At 31 December 2023
64,800
At 31 December 2023
55,200
At 31 December 2022
67,200
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
8,888
81,949
7,006
42,510
140,353
At 31 December 2023
8,888
81,949
7,006
42,510
140,353
At 1 January 2023
8,888
10,167
6,996
30,223
56,274
Charge for the year
-
12,462
2
4,011
16,475
At 31 December 2023
8,888
22,629
6,998
34,234
72,749
At 31 December 2023
-
59,320
8
8,276
67,604
At 31 December 2022
-
71,782
10
12,287
84,079
Amounts falling due within one year
Trade debtors
148,210
190,648
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
41,435
65,420
Taxes and social security
111,448
94,289
Other creditors
18,429
17,073
Loans from directors
11,599
36,599
Verner Wheelock Associates Limited
Notes to the Accounts
for the year ended 31 December 2023
8
Average number of employees
During the year the average number of employees was 7 (2022: 7).