Registered number: 01103255 | ||||||||
FOR THE 184 DAY PERIOD ENDED 31/12/2023 | ||||||||
Prepared By: | ||||||||
GT Accountants Limited | ||||||||
Unit 7, The Court House | ||||||||
72 Moorland Road, Burslem | ||||||||
Stoke on Trent | ||||||||
Staffs | ||||||||
ST6 1DY |
Witnall Automatics Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE 184 DAY PERIOD ENDED 31/12/2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 01103255 | ||||||||
ACCOUNTANTS | ||||||||
GT Accountants Limited | ||||||||
Unit 7, The Court House | ||||||||
72 Moorland Road, Burslem | ||||||||
Stoke on Trent | ||||||||
Staffs | ||||||||
ST6 1DY |
Witnall Automatics Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE184 DAY PERIODENDED31/12/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 |
Witnall Automatics Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
331,478 | 276,014 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT (LIABILITIES) / ASSETS | ( | 159,061 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 7 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Profit and loss account | 1,425,602 | 174,784 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
Director | ||||||||||
Witnall Automatics Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE 184 DAY PERIOD ENDED 31/12/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Plant and Machinery | straight line 25% | |||||||
Commercial Vehicles | reducing balance 25% | |||||||
Equipment | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the period. |
2. EMPLOYEES | ||||||
2023 | 2023 | |||||
No. | No. | |||||
Average number of employees | 41 | |||||
Witnall Automatics Limited | ||||||||
3. TANGIBLE FIXED ASSETS | |||||||||||
Land And | Plant and | Commercial | |||||||||
Buildings | Machinery | Vehicles | Equipment | Total | |||||||
£ | £ | £ | £ | £ | |||||||
Cost | |||||||||||
At 01/07/2023 | - | 43,808 | 1,079 | 59,106 | 103,993 | ||||||
Additions | 1,550,000 | - | - | 125,685 | 1,675,685 | ||||||
Disposals | - | (4,500) | (1,079) | - | (5,579) | ||||||
Revaluation | 1,515,000 | - | - | - | 1,515,000 | ||||||
At 31/12/2023 | 3,065,000 | 39,308 | - | 184,791 | 3,289,099 | ||||||
Depreciation | |||||||||||
At 01/07/2023 | - | 23,171 | 225 | 45,991 | 69,387 | ||||||
Disposals | - | (3,066) | (225) | - | (3,291) | ||||||
For the 184 day period | - | 4,914 | - | 2,955 | 7,869 | ||||||
At 31/12/2023 | - | 25,019 | - | 48,946 | 73,965 | ||||||
Net Book Amounts | |||||||||||
At 31/12/2023 | 3,215,134 | ||||||||||
At 30/06/2023 | 34,606 | ||||||||||
During the period this company acquired eight new bingo halls which had previously been operated by an unrelated company which had fallen into administration. These acquistions took place on 21 December 2023 for a consideration of £1,550,000 and were acquired at a distressed value. These properties were revalued for financing purposes in November 2023 by VAS Panel, part of the VAL valuation group of Stephenson House, High Force Road, Riverside Park, Middlesborough, TS2 1RH with a market value of £3,065,000. This company has adopted these market values as its carrying values. | |||||||||||
4. STOCK | 2023 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
5. DEBTORS | 2023 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 26,197 | 21,269 | ||||||
Other debtors | 1,007 | - | ||||||
Prepayments | 1,792 | 1,792 | ||||||
28,996 | 23,061 | |||||||
Witnall Automatics Limited | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 22,446 | 18,595 | ||||||
VAT | 9,399 | 25,000 | ||||||
PAYE control | 3,488 | 7,000 | ||||||
Directors current account | - | 40,472 | ||||||
Trade creditors | 38,788 | 5,206 | ||||||
Other creditors | 344 | - | ||||||
Accruals | 26,397 | 20,680 | ||||||
Amounts due to group companies | 1,600,873 | - | ||||||
1,701,735 | 116,953 | |||||||
7. PROVISIONS FOR LIABILITIES | 2023 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 407,275 | 6,883 | ||||||
407,275 | 6,883 | |||||||
8. SHARE CAPITAL | 2023 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
12,000 | 12,000 | |||||||
12,000 | 12,000 | |||||||
9. CONTROLLING PARTY | ||||||||
This company is a 100% subsidiary of Real Fun Group Limited a company whose registered office is Unit 7, The Court House, 72 Moorland Road, Stoke-on-Trent, ST6 1DY. | ||||||||
10. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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Witnall Automatics Limited | ||||||||
11. ASSETS SECURED | ||||||||
There is a fixed and floating charge over the eight properties owned, by the lender who has provided finance to the parent company Real Fun Group Limited. There is also a fixed and floating charge over all over the other assets of this company and also a personal guarantee by the director Mr K McGinnigle to the lender. | ||||||||