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REGISTERED NUMBER: 01371393 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WICKENS ENGINEERING LIMITED

WICKENS ENGINEERING LIMITED (REGISTERED NUMBER: 01371393)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


WICKENS ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S J Wickens
D I Wheatley
B Haffner
L P Coupe
M Rawlings





SECRETARY: Mrs K Wickens





REGISTERED OFFICE: 1 Shire Business Park
Worcester
Worcestershire
WR4 9FA





REGISTERED NUMBER: 01371393 (England and Wales)





AUDITORS: BK Plus Audit Limited (Statutory Auditor)
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX

WICKENS ENGINEERING LIMITED (REGISTERED NUMBER: 01371393)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,427,431 487,216

CURRENT ASSETS
Stocks 995,516 561,469
Debtors 760,934 1,701,411
Cash at bank and in hand 1,928,309 2,800,071
3,684,759 5,062,951
CREDITORS
Amounts falling due within one year (2,996,425 ) (3,636,958 )
NET CURRENT ASSETS 688,334 1,425,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,115,765

1,913,209

CREDITORS
Amounts falling due after more than
one year

(15,833

)

(25,833

)

PROVISIONS FOR LIABILITIES (214,554 ) (121,804 )
NET ASSETS 1,885,378 1,765,572

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 1,885,278 1,765,472
SHAREHOLDERS' FUNDS 1,885,378 1,765,572

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by:





S J Wickens - Director


WICKENS ENGINEERING LIMITED (REGISTERED NUMBER: 01371393)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Wickens Engineering 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Tangible fixed assets that are the subject of a capital grant claim are depreciated net of that capital grant.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


WICKENS ENGINEERING LIMITED (REGISTERED NUMBER: 01371393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating lease agreements
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

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.

Grants
Capital grants received are recognised as income over the life of the asset to which they relate. Revenue grants are credited against the relevant expenditure heading in the profit and loss account on a receivable basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 43 ) .

WICKENS ENGINEERING LIMITED (REGISTERED NUMBER: 01371393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 2,180,440
Additions 1,083,020
Disposals (78,258 )
At 31 March 2024 3,185,202
DEPRECIATION
At 1 April 2023 1,693,224
Charge for year 141,300
Eliminated on disposal (76,753 )
At 31 March 2024 1,757,771
NET BOOK VALUE
At 31 March 2024 1,427,431
At 31 March 2023 487,216

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023
and 31 March 2024 97,841
DEPRECIATION
At 1 April 2023
and 31 March 2024 59,558
NET BOOK VALUE
At 31 March 2024 38,283
At 31 March 2023 38,283

5. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts - 19,712

Hire purchase liabilities are secured against the asset to which the finance relates.

WICKENS ENGINEERING LIMITED (REGISTERED NUMBER: 01371393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Roger Downes FCA (Senior Statutory Auditor)
for and on behalf of BK Plus Audit Limited (Statutory Auditor)

8. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements - 879,245

9. OTHER FINANCIAL COMMITMENTS

Annual commitments in respect of non-cancellable operating leases:

20242023
Other

Expiring in less than 1 year£5,175£6,956
Expiring in 2 - 5 years£5,175£2,988

10. RELATED PARTY DISCLOSURES

One of the current directors is also a trustee of the Wickens Engineering Limited Retirement Benefit Scheme. The company made payments to the Scheme of £12,000 (2023: £12,000) relating to the rent of property owned by the Scheme.

R G Wickens deceased, a director of the company until his death in November 2022, also traded as Wickens Developments. That business has been continued by his executors since that time. The company was invoiced by Wickens Developments for £140,000 (2023: £140,000) relating to the rent of property owned by Wickens Developments which was not fully paid during the year.

Included in other creditors is the sum of £150,504 (2023: £200,323) owed by the company to the executors of the late R G Wickens.

Included in other creditors is the sum of £102,758 (2023: £325,400) owed by the company to S J Wickens, a director of the company.

Included in other creditors is the sum of £30,598 (2023: £22,219) owed by the company to P S Wickens, the wife of the late R G Wickens.