Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseNo description of principal activity119truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01376368 2023-07-01 2024-06-30 01376368 2022-07-01 2023-06-30 01376368 2024-06-30 01376368 2023-06-30 01376368 2022-07-01 01376368 c:Director1 2023-07-01 2024-06-30 01376368 d:Buildings 2023-07-01 2024-06-30 01376368 d:Buildings 2024-06-30 01376368 d:Buildings 2023-06-30 01376368 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01376368 d:PlantMachinery 2023-07-01 2024-06-30 01376368 d:PlantMachinery 2024-06-30 01376368 d:PlantMachinery 2023-06-30 01376368 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01376368 d:MotorVehicles 2023-07-01 2024-06-30 01376368 d:MotorVehicles 2024-06-30 01376368 d:MotorVehicles 2023-06-30 01376368 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01376368 d:FurnitureFittings 2023-07-01 2024-06-30 01376368 d:FurnitureFittings 2024-06-30 01376368 d:FurnitureFittings 2023-06-30 01376368 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01376368 d:OfficeEquipment 2023-07-01 2024-06-30 01376368 d:OfficeEquipment 2024-06-30 01376368 d:OfficeEquipment 2023-06-30 01376368 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01376368 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01376368 d:CurrentFinancialInstruments 2024-06-30 01376368 d:CurrentFinancialInstruments 2023-06-30 01376368 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 01376368 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01376368 d:ShareCapital 2024-06-30 01376368 d:ShareCapital 2023-06-30 01376368 d:ShareCapital 2022-07-01 01376368 d:SharePremium 2024-06-30 01376368 d:SharePremium 2023-06-30 01376368 d:SharePremium 2022-07-01 01376368 d:OtherMiscellaneousReserve 2023-07-01 2024-06-30 01376368 d:OtherMiscellaneousReserve 2024-06-30 01376368 d:OtherMiscellaneousReserve 2023-06-30 01376368 d:OtherMiscellaneousReserve 2022-07-01 01376368 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 01376368 d:RetainedEarningsAccumulatedLosses 2024-06-30 01376368 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 01376368 d:RetainedEarningsAccumulatedLosses 2023-06-30 01376368 d:RetainedEarningsAccumulatedLosses 2022-07-01 01376368 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 01376368 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 01376368 c:FRS102 2023-07-01 2024-06-30 01376368 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 01376368 c:FullAccounts 2023-07-01 2024-06-30 01376368 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01376368 7 2023-07-01 2024-06-30 01376368 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 01376368









 
A.C. WALLBRIDGE AND COMPANY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024














Fletcher & Partners
Chartered Accountants
Salisbury

 
A.C. WALLBRIDGE AND COMPANY LIMITED
REGISTERED NUMBER: 01376368

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
196,261
198,517

Current assets
  

Stocks
 5 
13,936
9,947

Debtors: amounts falling due within one year
 6 
342,667
237,179

Cash at bank and in hand
 7 
415,214
326,245

  
771,817
573,371

Creditors: amounts falling due within one year
 8 
(116,597)
(61,620)

Net current assets
  
 
 
655,220
 
 
511,751

Total assets less current liabilities
  
851,481
710,268

Provisions for liabilities
  

Deferred tax
 9 
(39,274)
(39,657)

Net assets
  
812,207
670,611


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Share premium account
  
916
916

Other reserves
 10 
18,444
18,444

Profit and loss account
  
772,847
631,251

  
812,207
670,611


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


D S Palmer
Director

Page 1

 
A.C. WALLBRIDGE AND COMPANY LIMITED
REGISTERED NUMBER: 01376368

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

Date: 19 November 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Share premium account
Other reserves
Profit and loss account
Total equity

£
£
£
£
£


At 1 July 2022
20,000
916
18,444
517,170
556,530



Profit for the year
-
-
-
134,081
134,081

Dividends: Equity capital
-
-
-
(20,000)
(20,000)



At 1 July 2023
20,000
916
18,444
631,251
670,611



Profit for the year
-
-
-
181,596
181,596

Dividends: Equity capital
-
-
-
(40,000)
(40,000)


At 30 June 2024
20,000
916
18,444
772,847
812,207


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

A.C. Wallbridge and Company Limited is a private company limited by shares, incorporated in England and Wales, registration number 01376368. Its registered office is Unit 7, Centre One, Lysander Way, Old Sarum, Salisbury, Wiltshire, SP4 6BU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Page 4

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

 

Freehold property
-
2.78%
straight line
Plant and machinery
-
25.00%
reducing balance
Motor vehicles
-
25.00%
reducing balance
Fixtures and fittings
-
25.00%
reducing balance
Office equipment
-
25.00%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete items. Stocks of materials are reflected in raw material costs and stocks of clothing are adjusted against clothing costs.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.
Accrued income is measured at the percentage of completion of a contract as at the balance sheet date.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price.

Page 6

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.12

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 9).

Page 7

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 July 2023
50,000
81,240
148,053
471
6,371
286,135


Additions
-
68,843
237,305
1,189
4,256
311,593


Disposals
-
(65,150)
(242,581)
-
-
(307,731)



At 30 June 2024

50,000
84,933
142,777
1,660
10,627
289,997



Depreciation


At 1 July 2023
10,111
25,704
47,416
298
4,089
87,618


Charge for the year on owned assets
722
18,879
31,511
341
1,635
53,088


Disposals
-
(16,288)
(30,682)
-
-
(46,970)



At 30 June 2024

10,833
28,295
48,245
639
5,724
93,736



Net book value



At 30 June 2024
39,167
56,638
94,532
1,021
4,903
196,261



At 30 June 2023
39,889
55,536
100,637
173
2,282
198,517


5.


Stocks

2024
2023
£
£

Raw materials and consumables
12,951
9,346

Work clothing
985
601

13,936
9,947


Page 8

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
229,885
91,292

Other debtors
1,574
3,658

Prepayments and accrued income
14,547
12,738

Amounts recoverable on long-term contracts
96,661
129,491

342,667
237,179



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
415,214
326,245

Less: bank overdrafts
(15,269)
-

399,945
326,245



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
15,269
-

Trade creditors
4,858
3,910

Corporation tax
62,207
27,315

Other taxation and social security
24,565
18,420

Other creditors
1,563
1,659

Accruals and deferred income
8,135
10,316

116,597
61,620



9.


Deferred taxation




2024


£






At beginning of year
39,657


Charged / (credited) to profit or loss
(383)



At end of year
39,274

Page 9

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
39,274
39,657


10.


Reserves

Other reserves

Other reserves represent a revaluation of the freehold property which formed part of the reported cost of
the property on transition to FRS 102.

Page 10

 
A.C. WALLBRIDGE AND COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


First time adoption of FRS 102

The Company transitioned to FRS 102 from previously extant UK GAAP as at 1 July 2022. The impact of the transition to FRS 102 is as follows:

Reconciliation of equity at 1 July 2022

 
        £
Equity at 1 July 2021 under FRS 105

  
432,386

Restatement of freehold property at deemed cost from a previous GAAP revaluation

  
18,444

Adjustment of depreciation of freehold property arising from restatement at deemed cost

  
(3,197)

Deferred tax provision on accelerated capital allowances

  
(9,203)

Equity shareholders funds at 1 July 2022 under FRS 102

  
 
438,430



Reconciliation of equity at 30 June 2023

 
        £
Equity at 30 June 2022 under FRS 105

  
561,100

Restatement of freehold property at deemed cost from a previous GAAP revaluation

  
18,444

Adjustment of depreciation of freehold property arising from restatement at deemed cost

  
(3,463)

Deferred tax provision on accelerated capital allowances

  
(19,553)

Equity shareholders funds at 30 June 2023 under FRS 102

  
 
556,528


Reconciliation of profit and loss account for the year ended 30 June 2023

        £
Profit for the year under FRS 105

  
148,714

Adjustment of depreciation of freehold property arising from restatement at deemed cost

  
(266)

Deferred tax provision on accelerated capital allowances

  
(10,350)

Profit for the year ended 30 June 2023 under FRS 102

  
 
 
138,098






Page 11