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REGISTERED NUMBER: 04431385 (England and Wales)











REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WESSEX PROFILES LIMITED

WESSEX PROFILES LIMITED (REGISTERED NUMBER: 04431385)

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










Page

Company Information 1

Report of the Directors 2

Statement of Financial Position 3

Notes to the Financial Statements 5


WESSEX PROFILES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J N Gilbert
Mrs J Gilbert





SECRETARY: Mrs J Gilbert





REGISTERED OFFICE: 52-54 Winchester Street
Salisbury
Wiltshire
SP1 1HG





REGISTERED NUMBER: 04431385 (England and Wales)





ACCOUNTANTS: Ray Bartlett & Co
Accountants & Taxation Consultants
52-54 Winchester Street
Salisbury
Wiltshire
SP1 1HG

WESSEX PROFILES LIMITED (REGISTERED NUMBER: 04431385)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of steel fabricator.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

J N Gilbert
Mrs J Gilbert

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J N Gilbert - Director


7 November 2024

WESSEX PROFILES LIMITED (REGISTERED NUMBER: 04431385)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 158,733 185,741

CURRENT ASSETS
Stocks 5 129,130 157,590
Debtors 6 384,100 306,060
Cash at bank 242,956 236,021
756,186 699,671
CREDITORS
Amounts falling due within one year 7 (476,340 ) (346,576 )
NET CURRENT ASSETS 279,846 353,095
TOTAL ASSETS LESS CURRENT
LIABILITIES

438,579

538,836

CREDITORS
Amounts falling due after more than one
year

8

(20,859

)

(30,680

)

PROVISIONS FOR LIABILITIES 10 (30,159 ) (35,291 )
NET ASSETS 387,561 472,865

CAPITAL AND RESERVES
Called up share capital 11 25,100 25,100
Retained earnings 12 362,461 447,765
SHAREHOLDERS' FUNDS 387,561 472,865

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

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

WESSEX PROFILES LIMITED (REGISTERED NUMBER: 04431385)

STATEMENT OF FINANCIAL POSITION - continued
31 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 by the Board of Directors and authorised for issue on 7 November 2024 and were signed on its behalf by:





J N Gilbert - Director


WESSEX PROFILES LIMITED (REGISTERED NUMBER: 04431385)

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


1. STATUTORY INFORMATION

Wessex Profiles 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 - 20% on reducing balance
Office equipment - 20% 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.

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 statement of financial position date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

WESSEX PROFILES LIMITED (REGISTERED NUMBER: 04431385)

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


4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 382,058 3,775 385,833
Additions 12,675 - 12,675
At 31 March 2024 394,733 3,775 398,508
DEPRECIATION
At 1 April 2023 196,317 3,775 200,092
Charge for year 39,683 - 39,683
At 31 March 2024 236,000 3,775 239,775
NET BOOK VALUE
At 31 March 2024 158,733 - 158,733
At 31 March 2023 185,741 - 185,741

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 129,130 157,590

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 317,267 266,513
Directors' current accounts 66,833 39,079
VAT - 468
384,100 306,060

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 438,546 317,538
Other creditors 6,113 5,398
Tax 19,028 19,743
Social security and other taxes - 3,897
VAT 12,653 -
476,340 346,576

WESSEX PROFILES LIMITED (REGISTERED NUMBER: 04431385)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 20,859 30,680

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 20,859 30,680

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 30,159 35,291

Deferred
tax
£   
Balance at 1 April 2023 35,291
Accelerated capital allowances (5,132 )
Balance at 31 March 2024 30,159

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
25,100 Share capital 1 £1 25,100 25,100

12. RESERVES
Retained
earnings
£   

At 1 April 2023 447,765
Profit for the year 14,696
Dividends (100,000 )
At 31 March 2024 362,461

WESSEX PROFILES LIMITED (REGISTERED NUMBER: 04431385)

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


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.24 31.3.23
£    £   
J N Gilbert and J N Gilbert
Balance outstanding at start of year 19,388 -
Amounts advanced 14,029 19,388
Amounts repaid (33,417 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19,388

Mrs J Gilbert and Mrs J Gilbert
Balance outstanding at start of year 19,741 -
Amounts advanced 13,676 19,741
Amounts repaid (33,417 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19,741

The directors loan accounts were repaid on 30th April 2024.