Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3188410true2023-02-01falseNo description of principal activity8trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00696138 2023-02-01 2024-01-31 00696138 2022-02-01 2023-01-31 00696138 2024-01-31 00696138 2023-01-31 00696138 c:Director1 2023-02-01 2024-01-31 00696138 d:Buildings d:LongLeaseholdAssets 2023-02-01 2024-01-31 00696138 d:Buildings d:LongLeaseholdAssets 2024-01-31 00696138 d:Buildings d:LongLeaseholdAssets 2023-01-31 00696138 d:PlantMachinery 2023-02-01 2024-01-31 00696138 d:PlantMachinery 2024-01-31 00696138 d:PlantMachinery 2023-01-31 00696138 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00696138 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 00696138 d:MotorVehicles 2023-02-01 2024-01-31 00696138 d:MotorVehicles 2024-01-31 00696138 d:MotorVehicles 2023-01-31 00696138 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00696138 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 00696138 d:FurnitureFittings 2023-02-01 2024-01-31 00696138 d:FurnitureFittings 2024-01-31 00696138 d:FurnitureFittings 2023-01-31 00696138 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00696138 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 00696138 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00696138 d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 00696138 d:CurrentFinancialInstruments 2024-01-31 00696138 d:CurrentFinancialInstruments 2023-01-31 00696138 d:Non-currentFinancialInstruments 2024-01-31 00696138 d:Non-currentFinancialInstruments 2023-01-31 00696138 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 00696138 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 00696138 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 00696138 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 00696138 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 00696138 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 00696138 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 00696138 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 00696138 d:ShareCapital 2024-01-31 00696138 d:ShareCapital 2023-01-31 00696138 d:RetainedEarningsAccumulatedLosses 2024-01-31 00696138 d:RetainedEarningsAccumulatedLosses 2023-01-31 00696138 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 00696138 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 00696138 c:OrdinaryShareClass1 2023-02-01 2024-01-31 00696138 c:OrdinaryShareClass1 2024-01-31 00696138 c:OrdinaryShareClass1 2023-01-31 00696138 c:FRS102 2023-02-01 2024-01-31 00696138 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 00696138 c:FullAccounts 2023-02-01 2024-01-31 00696138 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 00696138 2 2023-02-01 2024-01-31 00696138 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00696138









WM.ADDISON (NEWPORT) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
WM.ADDISON (NEWPORT) LIMITED
REGISTERED NUMBER: 00696138

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
66,553
32,332

  
66,553
32,332

Current assets
  

Stocks
  
364,741
305,220

Debtors: amounts falling due within one year
 5 
174,343
182,277

Cash at bank and in hand
 6 
178,999
234,031

  
718,083
721,528

Creditors: amounts falling due within one year
 7 
(417,308)
(399,525)

Net current assets
  
 
 
300,775
 
 
322,003

Total assets less current liabilities
  
367,328
354,335

Creditors: amounts falling due after more than one year
 8 
(244,171)
(248,819)

Provisions for liabilities
  

Deferred tax
 10 
(15,696)
(5,086)

  
 
 
(15,696)
 
 
(5,086)

Net assets
  
107,461
100,430


Capital and reserves
  

Called up share capital 
 11 
2,500
2,500

Profit and loss account
  
104,961
97,930

  
107,461
100,430


Page 1

 
WM.ADDISON (NEWPORT) LIMITED
REGISTERED NUMBER: 00696138
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D H Horton
Director

Date: 8 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WM.ADDISON (NEWPORT) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

WM. Addison (Newport) Limited is a private limited company, limited by shares, incorporated in Englandand Wales, with its registered office and principal place of business at 19-20 Cedar Court, Halesfield 17,Telford, Shropshire, TF7 4PF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
WM.ADDISON (NEWPORT) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WM.ADDISON (NEWPORT) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
straight line
Plant and machinery
-
10%
straight line
Motor vehicles
-
20%
straight line
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

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

Page 5

 
WM.ADDISON (NEWPORT) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 8).


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
8,837
28,479
74,686
60,289
172,291


Additions
-
24,985
25,972
-
50,957


Disposals
-
(3,000)
(21,310)
-
(24,310)



At 31 January 2024

8,837
50,464
79,348
60,289
198,938



Depreciation


At 1 February 2023
4,183
21,949
57,358
56,470
139,960


Charge for the year on owned assets
884
1,126
-
956
2,966


Charge for the year on financed assets
-
2,499
10,970
-
13,469


Disposals
-
(2,700)
(21,310)
-
(24,010)



At 31 January 2024

5,067
22,874
47,018
57,426
132,385



Net book value



At 31 January 2024
3,770
27,590
32,330
2,863
66,553



At 31 January 2023
4,655
6,530
17,328
3,819
32,332

Page 6

 
WM.ADDISON (NEWPORT) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
172,343
180,277

Prepayments and accrued income
2,000
2,000

174,343
182,277



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
178,999
234,031

178,999
234,031



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,484
10,433

Trade creditors
237,154
215,459

Other taxation and social security
53,867
68,354

Obligations under finance lease and hire purchase contracts
20,861
8,045

Other creditors
91,888
94,209

Accruals and deferred income
3,054
3,025

417,308
399,525



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,683
23,552

Net obligations under finance leases and hire purchase contracts
20,949
6,258

Other creditors
209,539
219,009

244,171
248,819


Page 7

 
WM.ADDISON (NEWPORT) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,484
10,433


10,484
10,433

Amounts falling due 1-2 years

Bank loans
13,683
10,697


13,683
10,697

Amounts falling due 2-5 years

Bank loans
-
12,855


-
12,855


24,167
33,985



10.


Deferred taxation




2024


£






At beginning of year
(5,086)


Charged to profit or loss
(10,610)



At end of year
(15,696)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(15,696)
(5,086)

(15,696)
(5,086)

Page 8

 
WM.ADDISON (NEWPORT) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,500 (2023 - 2,500) Ordinary shares of £1.00 each
2,500
2,500



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £17,366 (2023 - £14,324) . Contributions totalling £1,890 (2023 - £4,206) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9