Company registration number 0381005 (England and Wales)
WILDMAN & BUGBY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
WILDMAN & BUGBY LIMITED
COMPANY INFORMATION
Directors
Mr P S Wildman
Mrs R A Wildman
Mr A R Wildman
Secretary
Mr P S Wildman
Company number
0381005
Registered office
Unit 3A
Sanders Lodge Industrial Estate
Rushden
Northants
NN10 6BQ
Accountants
Ellacotts LLP
Vantage House
2700 Kettering Parkway
Kettering Venture Park
Kettering
Northamptonshire
NN15 6XR
Bankers
National Westminster Bank Plc
43 High Street
Rushden
Northants
NN10 0QE
WILDMAN & BUGBY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
WILDMAN & BUGBY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WILDMAN & BUGBY LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wildman & Bugby Limited for the year ended 31 March 2024 which comprise, the balance sheet, the statement of changes in equity and the related notes 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 Wildman & Bugby Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wildman & Bugby Limited and state those matters that we have agreed to state to the Board of Directors of Wildman & Bugby 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 Wildman & Bugby Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Wildman & Bugby 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 Wildman & Bugby Limited. You consider that Wildman & Bugby 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 Wildman & Bugby 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.

Ellacotts LLP
Chartered Accountants
Vantage House
2700 Kettering Parkway
Kettering Venture Park
Kettering
Northamptonshire
NN15 6XR
Date:
16 October 2024
WILDMAN & BUGBY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
76,818
69,843
Current assets
Stocks
389,662
408,920
Debtors
6
138,084
137,839
Cash at bank and in hand
143,268
137,034
671,014
683,793
Creditors: amounts falling due within one year
7
(369,179)
(375,037)
Net current assets
301,835
308,756
Total assets less current liabilities
378,653
378,599
Provisions for liabilities
8
(7,648)
(8,127)
Net assets
371,005
370,472
Capital and reserves
Called up share capital
10
16,501
16,501
Profit and loss reserves
354,504
353,971
Total equity
371,005
370,472

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 16 October 2024 and are signed on its behalf by:
Mr A R Wildman
Director
Company registration number 0381005 (England and Wales)
WILDMAN & BUGBY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2022
16,501
351,425
367,926
Year ended 31 March 2023:
Profit and total comprehensive income
-
2,546
2,546
Balance at 31 March 2023
16,501
353,971
370,472
Year ended 31 March 2024:
Profit and total comprehensive income
-
533
533
Balance at 31 March 2024
16,501
354,504
371,005
WILDMAN & BUGBY LIMITED
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
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.

2
Accounting policies
Company information

Wildman & Bugby Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3A, Sanders Lodge Industrial Estate, Rushden, Northants, NN10 6BQ.

2.1
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 as applicable to companies subject to the small companies regime. 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 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.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer.

 

Revenue from services provided is recognised when the company has performed its obligations and in exchange obtained the right to consideration.

2.3
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:

Leasehold land and buildings
10% reducing balance
Plant and equipment
25% reducing balance
Fixtures and fittings
10% reducing balance
Office equipment
4 years straight line
Motor vehicles
25% reducing balance
WILDMAN & BUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2
Accounting policies
(Continued)
- 5 -

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.

2.4
Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

2.5
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.

2.6
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

2.7
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.

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.

2.8
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.

2.9
Retirement benefits

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

WILDMAN & BUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2
Accounting policies
(Continued)
- 6 -
2.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

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

2024
2023
Number
Number
Total
7
7
4
Directors' remuneration
2024
2023
£
£
Remuneration paid to directors
35,336
39,967
5
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Office equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
67,598
5,224
87,054
3,265
32,545
195,686
Additions
-
0
-
0
-
0
-
0
16,957
16,957
Disposals
-
0
-
0
-
0
-
0
(15,595)
(15,595)
At 31 March 2024
67,598
5,224
87,054
3,265
33,907
197,048
Depreciation and impairment
At 1 April 2023
38,749
4,598
51,272
2,420
28,804
125,843
Depreciation charged in the year
2,885
157
3,578
512
1,245
8,377
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(13,990)
(13,990)
At 31 March 2024
41,634
4,755
54,850
2,932
16,059
120,230
Carrying amount
At 31 March 2024
25,964
469
32,204
333
17,848
76,818
At 31 March 2023
28,849
626
35,782
845
3,741
69,843
WILDMAN & BUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
122,507
124,428
Other debtors
15,577
13,411
138,084
137,839
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
221,940
234,416
Corporation tax
1,481
1,778
Other taxation and social security
74,775
68,155
Other creditors
70,983
70,688
369,179
375,037
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
9
7,648
8,127
9
Deferred taxation

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

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
7,648
8,127
2024
Movements in the year:
£
Liability at 1 April 2023
8,127
Credit to profit or loss
(479)
Liability at 31 March 2024
7,648

 

WILDMAN & BUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
16,501
16,501
16,501
16,501
11
Financial commitments, guarantees and contingent liabilities

At the reporting date, the company had outstanding lease commitments for future minimum lease payments under non-cancellable operating leases of £13,333 (2023: £23,333).

12
Related party transactions

At 31 March 2024, the sum of £65,179 (2023: £65,387) was due by the company to the directors.

 

Interest of £7,672 (2023: £7,655) was payable to the directors, which remained outstanding at the year end.

 

Rent of £13,333 (2023: £20,000) was payable to the directors in respect of the use of property owned by them.

2024-03-312023-04-01false16 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr P S WildmanMrs R A WildmanMr A R WildmanMr P S Wildmanfalsefalse03810052023-04-012024-03-310381005bus:Director12023-04-012024-03-310381005bus:Director22023-04-012024-03-310381005bus:Director32023-04-012024-03-310381005bus:CompanySecretary12023-04-012024-03-310381005bus:RegisteredOffice2023-04-012024-03-310381005bus:Agent12023-04-012024-03-3103810052024-03-3103810052023-03-310381005core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-03-310381005core:PlantMachinery2024-03-310381005core:FurnitureFittings2024-03-310381005core:ComputerEquipment2024-03-310381005core:MotorVehicles2024-03-310381005core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-03-310381005core:PlantMachinery2023-03-310381005core:FurnitureFittings2023-03-310381005core:ComputerEquipment2023-03-310381005core:MotorVehicles2023-03-310381005core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-310381005core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-310381005core:CurrentFinancialInstruments2024-03-310381005core:CurrentFinancialInstruments2023-03-310381005core:ShareCapital2024-03-310381005core:ShareCapital2023-03-310381005core:RetainedEarningsAccumulatedLosses2024-03-310381005core:RetainedEarningsAccumulatedLosses2023-03-310381005core:ShareCapital2022-03-310381005core:RetainedEarningsAccumulatedLosses2022-03-310381005core:RetainedEarningsAccumulatedLosses2022-04-012023-03-3103810052022-04-012023-03-310381005core:RetainedEarningsAccumulatedLosses2023-04-012024-03-310381005core:LandBuildingscore:LongLeaseholdAssets2023-04-012024-03-310381005core:PlantMachinery2023-04-012024-03-310381005core:FurnitureFittings2023-04-012024-03-310381005core:ComputerEquipment2023-04-012024-03-310381005core:MotorVehicles2023-04-012024-03-310381005core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-03-310381005core:PlantMachinery2023-03-310381005core:FurnitureFittings2023-03-310381005core:ComputerEquipment2023-03-310381005core:MotorVehicles2023-03-3103810052023-03-310381005core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-012024-03-310381005core:WithinOneYear2024-03-310381005core:WithinOneYear2023-03-310381005bus:PrivateLimitedCompanyLtd2023-04-012024-03-310381005bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-310381005bus:FRS1022023-04-012024-03-310381005bus:AuditExemptWithAccountantsReport2023-04-012024-03-310381005bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP