REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED (REGISTERED NUMBER: 00431477) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company information | 1 |
Chartered accountants' report | 2 |
Balance sheet | 3 |
Notes to the financial statements | 5 |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1-2 Craven Road |
Ealing |
London |
W5 2UA |
BANKERS: |
Aylesbury Branch |
22 Market Square |
Aylesbury |
Buckinghamshire |
HP20 1TR |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wainwright & Sons (Risborough) Limited for the year ended 31 January 2024 which comprise the Statement of income and retained earnings, Balance sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Wainwright & Sons (Risborough) Limited in accordance with the terms of our engagement letter dated 20 May 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Wainwright & Sons (Risborough) Limited and state those matters that we have agreed to state to the director of Wainwright & Sons (Risborough) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wainwright & Sons (Risborough) Limited and its director for our work or for this report. |
It is your duty to ensure that Wainwright & Sons (Risborough) 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 Wainwright & Sons (Risborough) Limited. You consider that Wainwright & Sons (Risborough) 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 Wainwright & Sons (Risborough) 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. |
1-2 Craven Road |
Ealing |
London |
W5 2UA |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED (REGISTERED NUMBER: 00431477) |
BALANCE SHEET |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 11 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED (REGISTERED NUMBER: 00431477) |
BALANCE SHEET - continued |
31 JANUARY 2024 |
The financial statements were approved by the director and authorised for issue on |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED (REGISTERED NUMBER: 00431477) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Wainwright & Sons (Risborough) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. |
TANGIBLE FIXED ASSETS |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
Land and buildings - 2% on cost and Straight line over the life of the lease |
Short leasehold -15% on cost |
Plant and machinery etc - 33% on cost and 25% on reducing balance |
Motor vehicles - 25% on reducing balance |
STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
PREFERENCE SHARES |
The 3.5% preference shares are a compound financial instrument (having the characteristics of both a financial liability and equity). The net present value of the financial liability element using a discount rate of 5% is £4,800 (2023: £4,800). |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED (REGISTERED NUMBER: 00431477) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Short | Plant and | Motor |
property | leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Included in cost of land and buildings is freehold land of £ 26,000 (2023 - £ 26,000 ) which is not depreciated. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
WAINWRIGHT & SONS (RISBOROUGH) LIMITED (REGISTERED NUMBER: 00431477) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
8. | LEASING AGREEMENTS - continued |
Non-cancellable operating lease commitments relate to leases for premises and vehicles. |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Bank borrowings are secured by a legal charge over the freehold property of the company and a debenture over all assets of the company. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 10,375 | 10,375 |
3.5% Preference | 1 | 2,450 | 2,450 |
12,825 | 12,825 |
The 3.5% preference shares entitle the holders to a fixed preferential cumulative dividend of 3.5% per annum and a preferential repayment of capital in a winding up of the company and rank both for dividend and capital in priority to the holders of ordinary shares. The holders are not entitled to any further participation in the profits or assets of the company, receive notice of, attend or vote at company meetings unless the dividends on the preference shares are twelve months in arrears. |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 February 2023 |
and 31 January 2024 |