2023-04-012024-03-312024-03-31falseNI632611A F White Manufacturers 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A F White Manufacturers Limited

Registered Number
NI632611
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2024

A F White Manufacturers Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

White, Agnes Fleming
White, Ernest Campbell Crawford
White, Norman Fleming Sinclair
White, Norman

Registered Address

18a Drumhirk Road
Comber
Newtownards
BT23 5LY

Registered Number

NI632611 (Northern Ireland)
A F White Manufacturers Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets36695,649
Tangible assets4734,871484,154
Investments550,00050,000
785,540539,803
Current assets
Stocks62,226,8292,732,028
Debtors71,650,0951,513,985
Cash at bank and on hand1,501,600444,789
5,378,5244,690,802
Creditors amounts falling due within one year8(864,967)(1,122,654)
Net current assets (liabilities)4,513,5573,568,148
Total assets less current liabilities5,299,0974,107,951
Creditors amounts falling due after one year9-(816)
Provisions for liabilities10(12,317)(9,476)
Net assets5,286,7804,097,659
Capital and reserves
Called up share capital1,0001,000
Profit and loss account5,285,7804,096,659
Shareholders' funds5,286,7804,097,659
The financial statements were approved and authorised for issue by the Board of Directors on 7 November 2024, and are signed on its behalf by:
White, Norman
Director
Registered Company No. NI632611
A F White Manufacturers Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Intangible assets are amortised at 33%.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery25-
Fixtures and fittings-7
Vehicles25-
Office Equipment-3
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year98
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 2328,55128,551
At 31 March 2428,55128,551
Amortisation and impairment
At 01 April 2322,90222,902
Charge for year4,9804,980
At 31 March 2427,88227,882
Net book value
At 31 March 24669669
At 31 March 235,6495,649
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 April 23515,4534,00022,355112,859654,667
Additions235,624-45,334532281,490
Disposals--(21,970)-(21,970)
At 31 March 24751,0774,00045,719113,391914,187
Depreciation and impairment
At 01 April 2353,3802,73512,140102,258170,513
Charge for year9,1293167,4233,86520,733
On disposals--(11,930)-(11,930)
At 31 March 2462,5093,0517,633106,123179,316
Net book value
At 31 March 24688,56894938,0867,268734,871
At 31 March 23462,0731,26510,21510,601484,154
5.Fixed asset investments

Other investments1

Other loans2

Total

£££
Cost or valuation
At 01 April 23149,99950,000
At 31 March 24149,99950,000
Net book value
At 31 March 24149,99950,000
At 31 March 23149,99950,000

Notes

1Other investments other than loans
2Other loans classified under investments
6.Stocks

2024

2023

££
Other stocks2,226,8292,732,028
Total2,226,8292,732,028
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,606,8051,470,330
Prepayments and accrued income43,29043,655
Total1,650,0951,513,985
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables206,164413,066
Taxation and social security599,763559,987
Other creditors31,76775,787
Accrued liabilities and deferred income27,27373,814
Total864,9671,122,654
9.Creditors: amounts due after one year

2024

2023

££
Other creditors-816
Total-816
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,3179,476
Total12,3179,476