IRIS Accounts Production v24.3.0.553 03908555 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039085552023-03-31039085552024-03-31039085552023-04-012024-03-31039085552022-03-31039085552022-04-012023-03-31039085552023-03-3103908555ns15:EnglandWales2023-04-012024-03-3103908555ns14:PoundSterling2023-04-012024-03-3103908555ns10:Director12023-04-012024-03-3103908555ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103908555ns10:SmallEntities2023-04-012024-03-3103908555ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3103908555ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103908555ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103908555ns10:FullAccounts2023-04-012024-03-3103908555ns10:OrdinaryShareClass12023-04-012024-03-3103908555ns10:Director22023-04-012024-03-3103908555ns10:Director32023-04-012024-03-3103908555ns10:CompanySecretary12023-04-012024-03-3103908555ns10:RegisteredOffice2023-04-012024-03-3103908555ns5:CurrentFinancialInstruments2024-03-3103908555ns5:CurrentFinancialInstruments2023-03-3103908555ns5:ShareCapital2024-03-3103908555ns5:ShareCapital2023-03-3103908555ns5:RetainedEarningsAccumulatedLosses2024-03-3103908555ns5:RetainedEarningsAccumulatedLosses2023-03-3103908555ns5:PlantMachinery2023-04-012024-03-3103908555ns5:MotorVehicles2023-04-012024-03-3103908555ns5:LandBuildings2023-03-3103908555ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3103908555ns5:PlantMachinery2023-03-3103908555ns5:LandBuildings2023-04-012024-03-3103908555ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3103908555ns5:LandBuildings2024-03-3103908555ns5:ShortLeaseholdAssetsns5:LandBuildings2024-03-3103908555ns5:PlantMachinery2024-03-3103908555ns5:LandBuildings2023-03-3103908555ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3103908555ns5:PlantMachinery2023-03-3103908555ns5:FurnitureFittings2023-03-3103908555ns5:MotorVehicles2023-03-3103908555ns5:FurnitureFittings2023-04-012024-03-3103908555ns5:FurnitureFittings2024-03-3103908555ns5:MotorVehicles2024-03-3103908555ns5:FurnitureFittings2023-03-3103908555ns5:MotorVehicles2023-03-3103908555ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103908555ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103908555ns5:DeferredTaxation2023-03-3103908555ns5:DeferredTaxation2023-04-012024-03-3103908555ns5:DeferredTaxation2024-03-3103908555ns10:OrdinaryShareClass12024-03-3103908555ns5:RetainedEarningsAccumulatedLosses2023-03-3103908555ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31039085551ns10:Director12023-03-31039085551ns10:Director12022-03-31039085551ns10:Director12023-04-012024-03-31039085551ns10:Director12022-04-012023-03-31039085551ns10:Director12024-03-31039085551ns10:Director12023-03-31
REGISTERED NUMBER: 03908555 (England and Wales)














Unaudited Financial Statements

For The Year Ended 31st March 2024

for

Wye Commercials Limited

Wye Commercials Limited (Registered number: 03908555)






Contents of the Financial Statements
For The Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

Wye Commercials Limited

Company Information
For The Year Ended 31st March 2024







DIRECTORS: Julian Kirk Barnett
Brian George Burson
Pauline Heather Burson



SECRETARY: Pauline Heather Burson



REGISTERED OFFICE: Ross Livestock Market
Netherton Road
Overross Industrial Estate
Ross on Wye
Herefordshire
HR9 7QQ



REGISTERED NUMBER: 03908555 (England and Wales)



ACCOUNTANTS: Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE



BANKERS: Svenska Handelsbanken AB (publ)
Hereford Branch
Broadway House
32-35 Broad Street
Hereford
HR4 9AR

Wye Commercials Limited (Registered number: 03908555)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,154,837 732,892

CURRENT ASSETS
Stocks 5 757,000 1,257,210
Debtors 6 367,835 232,987
Cash at bank and in hand 2,969,618 2,534,437
4,094,453 4,024,634
CREDITORS
Amounts falling due within one year 7 845,196 671,696
NET CURRENT ASSETS 3,249,257 3,352,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,404,094

4,085,830

PROVISIONS FOR LIABILITIES 8 6,586 41,357
NET ASSETS 4,397,508 4,044,473

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 4,396,508 4,043,473
SHAREHOLDERS' FUNDS 4,397,508 4,044,473

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

Wye Commercials Limited (Registered number: 03908555)

Balance Sheet - continued
31st March 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 18th July 2024 and were signed on its behalf by:





Julian Kirk Barnett - Director


Wye Commercials Limited (Registered number: 03908555)

Notes to the Financial Statements
For The Year Ended 31st March 2024

1. STATUTORY INFORMATION

Wye Commercials 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.

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

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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.

Wye Commercials Limited (Registered number: 03908555)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1st April 2023 300,000 211,749 117,519
Additions 445,269 - 5,500
Disposals - - (19,750 )
At 31st March 2024 745,269 211,749 103,269
DEPRECIATION
At 1st April 2023 - 196,665 55,806
Charge for year - 8,345 7,937
Eliminated on disposal - - (6,372 )
At 31st March 2024 - 205,010 57,371
NET BOOK VALUE
At 31st March 2024 745,269 6,739 45,898
At 31st March 2023 300,000 15,084 61,713

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st April 2023 63,621 425,244 1,118,133
Additions 4,386 237,133 692,288
Disposals - (187,889 ) (207,639 )
At 31st March 2024 68,007 474,488 1,602,782
DEPRECIATION
At 1st April 2023 50,651 82,119 385,241
Charge for year 2,533 84,200 103,015
Eliminated on disposal - (33,939 ) (40,311 )
At 31st March 2024 53,184 132,380 447,945
NET BOOK VALUE
At 31st March 2024 14,823 342,108 1,154,837
At 31st March 2023 12,970 343,125 732,892

Wye Commercials Limited (Registered number: 03908555)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 802,750 1,257,210
Work-in-progress (45,750 ) -
757,000 1,257,210

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade Debtors 87,876 102,534
Directors' current accounts 263,405 -
Tax - 74,281
Prepayments 16,554 56,172
367,835 232,987

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 381,955 439,555
Taxation and social security 331,646 88,745
Other creditors 131,595 143,396
845,196 671,696

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred Taxation 6,586 41,357

Deferred
tax
£   
Balance at 1st April 2023 41,357
Credit to Income Statement during year (34,771 )
Balance at 31st March 2024 6,586

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,000 Ordinary 1 1,000 1,000

Wye Commercials Limited (Registered number: 03908555)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024

10. RESERVES
Retained
earnings
£   

At 1st April 2023 4,043,473
Profit for the year 660,624
Dividends (307,589 )
At 31st March 2024 4,396,508

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£    £   
Julian Kirk Barnett
Balance outstanding at start of year - -
Amounts advanced 263,405 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 263,405 -

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wye Commercials Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Wye Commercials Limited for the year ended 31st March 2024 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Wye Commercials Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wye Commercials Limited and state those matters that we have agreed to state to the Board of Directors of Wye Commercials Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wye Commercials 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 Wye Commercials Limited. You consider that Wye Commercials 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 Wye Commercials 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.






Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE


Date: 18th July 2024