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REGISTERED NUMBER: 09187513 (England and Wales)















NORTH WILTS MODEL ENGINEERING LIMITED
COMPANY LIMITED BY GUARANTEE

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






NORTH WILTS MODEL ENGINEERING LIMITED (REGISTERED NUMBER: 09187513)
COMPANY LIMITED BY GUARANTEE

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


NORTH WILTS MODEL ENGINEERING LIMITED
COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr J Rekowski
Mr C Goodwin
Mr I J Hand
Mrs H Foley
Mr D Sawyer
Mr R C Arman
Mr S Rekowski


REGISTERED OFFICE: Coate Water Miniature Railway
Coate Water Park
Marlborough Road
SWINDON
Wiltshire
SN3 6AA


REGISTERED NUMBER: 09187513 (England and Wales)


ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG


BANKERS: Barclays Bank Plc
37 Milsom Street
BATH
Avon
BA1 1DN

NORTH WILTS MODEL ENGINEERING LIMITED (REGISTERED NUMBER: 09187513)
COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,420 109,378

CURRENT ASSETS
Debtors 5 4,952 9,871
Cash at bank and in hand 37,002 26,455
41,954 36,326
CREDITORS
Amounts falling due within one year 6 5,816 5,278
NET CURRENT ASSETS 36,138 31,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

145,558

140,426

RESERVES
Retained earnings 145,558 140,426
145,558 140,426

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

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

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st October 2024 and were signed on its behalf by:





Mr J Rekowski - Director


NORTH WILTS MODEL ENGINEERING LIMITED (REGISTERED NUMBER: 09187513)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

North Wilts Model Engineering Limited is a private company, limited by guarantee, registered in England and Wales.

The company's registered number is 09187513,

The company's registered office address is Coate Water Minature Railway, Coate Water Park, Marlborough Road, Swindon, SN3 6AA.

The presentation currency of the financial statements is GBP £ 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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:
- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.
- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.
- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

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.
Plant and machinery - 25% on reducing balance
Tracks & locomotives - 5% on cost

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


NORTH WILTS MODEL ENGINEERING LIMITED (REGISTERED NUMBER: 09187513)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 158,346
Additions 9,634
At 31st March 2024 167,980
DEPRECIATION
At 1st April 2023 48,968
Charge for year 9,592
At 31st March 2024 58,560
NET BOOK VALUE
At 31st March 2024 109,420
At 31st March 2023 109,378

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,952 9,871

NORTH WILTS MODEL ENGINEERING LIMITED (REGISTERED NUMBER: 09187513)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 28 -
Taxation and social security 1,464 2,412
Other creditors 4,324 2,866
5,816 5,278

7. GUARANTEE OF MEMBERS

The company is limited by guarantee and therefore has no share capital. Each member is limited to
a liability of £1 solely in the event of the company winding up.