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REGISTERED NUMBER: 00313435 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

W.J.Armstrong Limited

W.J.Armstrong Limited (Registered number: 00313435)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.J.Armstrong Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M Armstrong
P M Armstrong
N A Armstrong





SECRETARY: A Armstrong





REGISTERED OFFICE: 12 London Road
East Grinstead
West Sussex
RH19 1AG





REGISTERED NUMBER: 00313435 (England and Wales)





ACCOUNTANTS: M N Jenks & Co Limited
72 Commercial Road
Paddock Wood
Tonbridge
Kent
TN12 6DP

W.J.Armstrong Limited (Registered number: 00313435)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 521,823 504,643

CURRENT ASSETS
Stocks 5 319,995 276,341
Debtors 6 131,155 121,289
Cash at bank and in hand 3,444 1,198
454,594 398,828
CREDITORS
Amounts falling due within one year 7 246,468 238,224
NET CURRENT ASSETS 208,126 160,604
TOTAL ASSETS LESS CURRENT
LIABILITIES

729,949

665,247

CREDITORS
Amounts falling due after more than one
year

8

(198,832

)

(198,832

)

PROVISIONS FOR LIABILITIES 11 (100,134 ) (100,134 )
NET ASSETS 430,983 366,281

CAPITAL AND RESERVES
Called up share capital 12 26,000 26,000
Property revaluation reserve 332,282 332,282
Retained earnings 72,701 7,999
SHAREHOLDERS' FUNDS 430,983 366,281

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 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.

W.J.Armstrong Limited (Registered number: 00313435)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





M Armstrong - Director


W.J.Armstrong Limited (Registered number: 00313435)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

W.J.Armstrong 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.

The presentation currency of the financial statements is the Pound 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.

Going Concern Basis of Accounting

The accounts have been prepared on the assumption that the company is able to carry on business as a going concern, which the directors consider appropriate having regard to the circumstances outlined in Note 15 to the accounts.

Turnover
Turnover represents net invoiced sales of goods, excluding VAT and is recognised at the point of sale.

Tangible fixed assets
Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated to write off the cost or valuation, less estimated residual values, of tangible fixed assets over their estimated useful lives to the business. The annual depreciation rates and methods are as follows:

Equipment, Fixtures and Fittings - 15% to 25% on reducing instalments basis
Motor Vehicles - 25% on reducing instalments basis

Freehold Land (acquired July 2015) is not depreciated. Freehold Property has not been depreciated or subject to impairment, as the Directors consider that its open market value at the balance sheet date is not materially different from the valuation carried out by the Directors as at 1 February 2015, being the transition date for the implementation of FRS 102.

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 represents the sum of tax currently payable and deferred tax. Deferred tax represents the future tax consequences of transactions and events in the accounts of current and previous periods in respect of all timing differences. Timing differences are differences between taxable profits and total profits as stated in the accounts that arise from the inclusion of income and expenses in tax computations in periods different from those in which they are recognised in the accounts. Deferred tax is measured using the tax rates that are expected to apply to the reversal of timing differences. Deferred tax on revalued tangible assets is measured using the rates and allowances that are likely to apply to the sale of the asset.

Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.

W.J.Armstrong Limited (Registered number: 00313435)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Pension costs
Contributions in respect of the Company's defined contribution scheme are charged to the profit and loss account for the year in which they are payable to the scheme.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Equipment,
Freehold fixtures
Land and and Motor
Property fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 501,087 39,459 - 540,546
Additions - 864 20,977 21,841
At 31 January 2024 501,087 40,323 20,977 562,387
DEPRECIATION
At 1 February 2023 - 35,903 - 35,903
Charge for year - 728 3,933 4,661
At 31 January 2024 - 36,631 3,933 40,564
NET BOOK VALUE
At 31 January 2024 501,087 3,692 17,044 521,823
At 31 January 2023 501,087 3,556 - 504,643

At the date of transition to FRS 102 (1 February 2015), the Company has elected for its freehold property to be measured at its fair value and for that fair value to be used as the deemed cost of the asset going forward. The valuation of the freehold property was carried out by the Directors.

5. STOCKS
31.1.24 31.1.23
£    £   
Goods for re-sale 319,995 276,341

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 126,562 116,976
Other debtors 4,593 4,313
131,155 121,289

W.J.Armstrong Limited (Registered number: 00313435)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts - 23,324
Other loans 4,000 4,000
Trade creditors 163,627 158,732
Corporation tax 1,140 1,140
Social security and other taxes 5,519 4,839
VAT 19,568 13,261
Other creditors - 1,234
Directors' loan accounts 48,056 27,502
Accruals and deferred income 4,558 4,192
246,468 238,224

Directors' loans comprise £48,056 (2023 - £27,502) owed to M Armstrong Esq and N Armstrong Esq who are also shareholders in the Company. The loans are unsecured and interest free.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Unsecured loans advanced
[see Note (i) & (ii)] 198,832 198,832
198,832 198,832

Unsecured loans advanced comprise the following:

(i) Unsecured loans advanced £4,000 (2023: £4,000) by M Armstrong, Director and without any fixed date for partial or full repayment at an annual interest rate entitlement, although this is not currently being paid, of 8%, but no repayment before 31 January 2026.

(ii) Unsecured interest free loans advanced £194,832 (2023: £194,832) by M Armstrong, Director and N Armstrong, Director without any fixed date for partial or full repayment, but no repayment before 31 January 2026.

M Armstrong Esq and N Armstrong Esq are also shareholders in the Company.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 8,639 2,800
Between one and five years 29,518 -
38,157 2,800

W.J.Armstrong Limited (Registered number: 00313435)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdraft - 23,324

11. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 100,134 100,134

Deferred
tax
£   
Balance at 1 February 2023 100,134
Balance at 31 January 2024 100,134

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
26,000 Ordinary £1 26,000 26,000

13. PENSION COMMITMENTS

The Company has made payments of £4,469 (2023 - £4,892) into defined contribution pension schemes, on behalf of two of its Directors and employees, during the year. The assets of the schemes are held separately from those of the Company in independently administered funds. The Company's liability is limited to the amount of the contributions payable.

14. ULTIMATE CONTROLLING PARTY

The controlling party is M Armstrong.

15. FUTURE TRADING AND THE CURRENT ECONOMIC ENVIRONMENT

Since the year end the Company’s sales have held up reasonably well and the Company is operating well within its overdraft facility. The Company is paying its suppliers in accordance with terms. At the same time the Directors are committed to providing financial support to the Company as is evidenced by these financial statements and will not seek repayment of amounts due to them as at the year end date until the Company's financial position allows. As a result, the Directors are not aware of any reason why the bank overdraft facilities or similar facilities will not continue and accordingly they have adopted the going concern basis of accounting.