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REGISTERED NUMBER: 04188533 (England and Wales)








Unaudited Financial Statements

for the Year Ended

30 April 2024

for

The Wharton Partnership Limited

The Wharton Partnership Limited (Registered number: 04188533)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Wharton Partnership Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: P F Wharton
Mrs J M Wharton
C P Wharton
R J Wharton
S Wharton





SECRETARY: C P Wharton





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 04188533 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

The Wharton Partnership Limited (Registered number: 04188533)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 77,605 92,906
77,605 92,906

CURRENT ASSETS
Stocks 441,137 487,264
Debtors 6 22,700 23,288
Cash at bank and in hand 153,691 182,801
617,528 693,353
CREDITORS
Amounts falling due within one year 7 381,616 482,057
NET CURRENT ASSETS 235,912 211,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,517

304,202

PROVISIONS FOR LIABILITIES 8 12,000 11,300
NET ASSETS 301,517 292,902

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 301,417 292,802
SHAREHOLDERS' FUNDS 301,517 292,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:




C P Wharton - Director


The Wharton Partnership Limited (Registered number: 04188533)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

The Wharton Partnership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

The Wharton Partnership Limited (Registered number: 04188533)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 306,000
AMORTISATION
At 1 May 2023
and 30 April 2024 306,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023
and 30 April 2024 176,393 30,888 60,272
DEPRECIATION
At 1 May 2023 143,047 21,986 40,179
Charge for year 3,995 1,336 1,742
At 30 April 2024 147,042 23,322 41,921
NET BOOK VALUE
At 30 April 2024 29,351 7,566 18,351
At 30 April 2023 33,346 8,902 20,093

The Wharton Partnership Limited (Registered number: 04188533)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 75,242 28,468 371,263
DEPRECIATION
At 1 May 2023 47,698 25,447 278,357
Charge for year 6,887 1,341 15,301
At 30 April 2024 54,585 26,788 293,658
NET BOOK VALUE
At 30 April 2024 20,657 1,680 77,605
At 30 April 2023 27,544 3,021 92,906

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,394 1,890
Other debtors 20,306 21,398
22,700 23,288

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 113,038 191,451
Taxation and social security 81,958 76,888
Other creditors 186,620 213,718
381,616 482,057

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 12,000 11,300

Deferred
tax
£   
Balance at 1 May 2023 11,300
Provided during year 700
Accelerated capital allowances
Balance at 30 April 2024 12,000

9. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the end of the year was £327,000 (2023: £400,000).

The Wharton Partnership Limited (Registered number: 04188533)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. RELATED PARTY DISCLOSURES

Included in creditors are amounts owing to directors 2024: £175,369 (2023: £202,369).