Registered number: 03291294 | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
Prepared By: | ||||||||
GT Accountants Limited | ||||||||
Unit 7, The Court House | ||||||||
72 Moorland Road, Burslem | ||||||||
Stoke on Trent | ||||||||
Staffs | ||||||||
ST6 1DY |
R & W Else Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Staffordshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 03291294 | ||||||||
BANKERS | ||||||||
Santander | ||||||||
ACCOUNTANTS | ||||||||
GT Accountants Limited | ||||||||
Unit 7, The Court House | ||||||||
72 Moorland Road, Burslem | ||||||||
Stoke on Trent | ||||||||
Staffs | ||||||||
ST6 1DY |
R & W Else Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 |
R & W Else Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 4 | |||||||||
Investment Assets | 6 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 8 | |||||||||
Cash at bank and in hand | ||||||||||
1,213,637 | 926,415 | |||||||||
CREDITORS: Amounts falling due within one year | 9 | |||||||||
NET CURRENT ASSETS | 435,330 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 10 | - | 442,563 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 12 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 13 | |||||||||
Profit and loss account | 1,282,439 | 578,686 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
Director | ||||||||||
R & W Else Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||||
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 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Land And Buildings | reducing balance 2% | |||||||
Fixtures and Fittings | reducing balance 15% | |||||||
Motor Cars | reducing balance 25% |
1c. Investment Properties | ||||||||
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view. |
1d. 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. |
R & W Else Limited | ||||||||
1e. 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 year. |
1f. Goodwill | ||||||||
Goodwill arising in connection with the purchase of the W & S Low Pharmacy during the year has been capitalised and amortised over its economic life to a maximum of 4 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable. This is in line with current accounting standards taking into accounts current uncertainties that exist within the economy and the nature of government contracts. | ||||||||
The Goodwill on W & S Low Pharmacy has been sold during the year. As this had been fully amortised the whole of the proceeds (less selling costs) have been treated as profit on disposal of goodwill in the financial statements. |
1g. Government Grants | ||||||||
Government grants are recognised in profit and loss in the year in which they are received. |
1h. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are not made for temporary fluctuations in value. |
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 17 | |||||
R & W Else Limited | ||||||||
3. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/04/2023 | 1,369,646 | 1,369,646 | ||
Disposals | (1,234,616) | (1,234,616) | ||
At 31/03/2024 | 135,030 | 135,030 | ||
Depreciation | ||||
At 01/04/2023 | 1,369,646 | 1,369,646 | ||
Disposals | (1,234,616) | (1,234,616) | ||
At 31/03/2024 | 135,030 | 135,030 | ||
Net Book Amounts | ||||
At 31/03/2024 | ||||
4. TANGIBLE FIXED ASSETS | ||||||||||
Land And | Short Leasehold | Fixtures | ||||||||
Buildings | Properties | and Fittings | Motor Cars | Total | ||||||
£ | £ | £ | £ | £ | ||||||
Cost | ||||||||||
At 01/04/2023 | 111,739 | 42,181 | 134,316 | 15,259 | 303,495 | |||||
Disposals | - | (4,335) | (48,790) | - | (53,125) | |||||
At 31/03/2024 | 111,739 | 37,846 | 85,526 | 15,259 | 250,370 | |||||
Depreciation | ||||||||||
At 01/04/2023 | 17,880 | 42,181 | 109,264 | 13,971 | 183,296 | |||||
Disposals | - | (4,335) | (33,149) | - | (37,484) | |||||
For the year | 2,235 | - | 1,262 | 322 | 3,819 | |||||
At 31/03/2024 | 20,115 | 37,846 | 77,377 | 14,293 | 149,631 | |||||
Net Book Amounts | ||||||||||
At 31/03/2024 | - | 100,739 | ||||||||
At 31/03/2023 | - | 120,199 | ||||||||
R & W Else Limited | ||||||||
5. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 01/04/2023 | 189,222 | 189,222 | ||||||
Disposals | (30,000) | (30,000) | ||||||
Revaluation | (39,222) | (39,222) | ||||||
At 31/03/2024 | 120,000 | 120,000 | ||||||
The investment property has been valued by the director at 31 March 2024 at £120,000. This is to reflect general market conditions in appartment blocks where their are or have been cladding issues. | ||||||||
6. FINANCIAL ASSETS | |||||||||
Listed | |||||||||
Investments | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/04/2023 | 279,608 | 279,608 | |||||||
Additions | 111,964 | 111,964 | |||||||
Disposals | (83,229) | (83,229) | |||||||
Revaluation | 43,025 | 43,025 | |||||||
At 31/03/2024 | 351,368 | 351,368 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31/03/2024 | 351,368 | 351,368 | |||||||
At 31/03/2023 | 279,608 | 279,608 | |||||||
At 31 March 2022 the cost of the listed investments was £308,343 (2023 - £279,608). | |||||||||
7. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
R & W Else Limited | ||||||||
8. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 156,150 | 219,677 | ||||||
VAT | 38,743 | 61,790 | ||||||
Prepayments | 1,705 | 2,605 | ||||||
196,598 | 284,072 | |||||||
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 262,933 | 44,502 | ||||||
PAYE control | 26,469 | 4,325 | ||||||
Directors current account | 29,354 | 63,986 | ||||||
Bank Loan | - | 60,400 | ||||||
Trade creditors | 178,209 | 312,158 | ||||||
Pension schemes | 638 | 848 | ||||||
Accruals | 4,802 | 4,866 | ||||||
502,405 | 491,085 | |||||||
10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans | - | 442,563 | ||||||
- | 442,563 | |||||||
R & W Else Limited | ||||||||
11. SECURED CREDITORS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | - | 420,063 | ||||||
12. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 400 | 2,610 | ||||||
400 | 2,610 | |||||||
13. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
500 | 500 | |||||||
500 | 500 | |||||||
14. OTHER FINANCIAL COMMITMENTS | ||||||||
At 31/03/2024 the company was committed to making the following payments under non-cancellable operating leases: | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Operating Leases which expire: | ||||||||
After 5 years | 59,650 | 69,600 | ||||||