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REGISTERED NUMBER: 00610055 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

W.C.EMMETT & SONS LTD

W.C.EMMETT & SONS LTD (REGISTERED NUMBER: 00610055)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.C.EMMETT & SONS LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: Mr P C Emmett





REGISTERED OFFICE: The Old Apple Barn
Wilton Farm
Little Marlow
Buckinghamshire
SL7 3RR





REGISTERED NUMBER: 00610055 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

W.C.EMMETT & SONS LTD (REGISTERED NUMBER: 00610055)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,029,775 1,031,028

CURRENT ASSETS
Stocks 139,514 208,316
Debtors 5 46,660 52,255
Cash at bank and in hand 546,092 353,309
732,266 613,880
CREDITORS
Amounts falling due within one year 6 189,736 145,890
NET CURRENT ASSETS 542,530 467,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,572,305

1,499,018

PROVISIONS FOR LIABILITIES 114,821 114,821
NET ASSETS 1,457,484 1,384,197

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 7 718,841 718,841
Retained earnings 718,643 645,356
SHAREHOLDERS' FUNDS 1,457,484 1,384,197

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

W.C.EMMETT & SONS LTD (REGISTERED NUMBER: 00610055)

BALANCE SHEET - continued
31 December 2023


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 director and authorised for issue on 3 December 2024 and were signed by:





Mr P C Emmett - Director


W.C.EMMETT & SONS LTD (REGISTERED NUMBER: 00610055)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

W.C.Emmett & Sons Ltd 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 etc - 15% - 25% on reducing balance and 10% on cost

Following the adoption of FRS102 the director had adopted the cost model for tangible fixed assets as at that date. However, the director now considers that this approach is no longer appropriate for freehold property and so for the current year and future periods this asset will be carried at market value.

The company does not provide depreciation on freehold property as the director considers that the useful economic life of the property is so long and the residual value so high that any depreciation charge would not be material. The need to impair the assets is considered annually, in accordance with FRS102.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments, as covered by Section 11 of FRS102, are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102.

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 balance sheet date.


W.C.EMMETT & SONS LTD (REGISTERED NUMBER: 00610055)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 personal pension scheme. Contributions payable are charged to the profit and loss account in the year in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Freehold Freehold Plant and
property improvements machinery
£    £    £   
COST OR VALUATION
At 1 January 2023 880,000 357,011 321,604
Additions - - 26,163
At 31 December 2023 880,000 357,011 347,767
DEPRECIATION
At 1 January 2023 - 357,011 188,691
Charge for year - - 23,862
At 31 December 2023 - 357,011 212,553
NET BOOK VALUE
At 31 December 2023 880,000 - 135,214
At 31 December 2022 880,000 - 132,913

W.C.EMMETT & SONS LTD (REGISTERED NUMBER: 00610055)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 63,332 98,277 1,720,224
Additions 172 - 26,335
At 31 December 2023 63,504 98,277 1,746,559
DEPRECIATION
At 1 January 2023 46,583 96,911 689,196
Charge for year 3,385 341 27,588
At 31 December 2023 49,968 97,252 716,784
NET BOOK VALUE
At 31 December 2023 13,536 1,025 1,029,775
At 31 December 2022 16,749 1,366 1,031,028

Cost or valuation at 31 December 2023 is represented by:

Freehold Freehold Plant and
property improvements machinery
£    £    £   
Valuation in 2021 345,000 - -
Cost 535,000 357,011 347,767
880,000 357,011 347,767

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2021 - - 345,000
Cost 63,504 98,277 1,401,559
63,504 98,277 1,746,559

If the freehold properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 5,613 5,613

Freehold properties were valued on an open market basis on 31 December 2023 by the director of the company .


W.C.EMMETT & SONS LTD (REGISTERED NUMBER: 00610055)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 26,052 32,530
Other debtors 20,608 19,725
46,660 52,255

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 28,487 41,248
Amounts owed to participating interests 14,367 -
Taxation and social security 22,863 14,493
Other creditors & accruals 124,019 90,149
189,736 145,890

7. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 718,841

The Revaluation reserve relates to the revaluations of Land and buildings. Following adoption of the cost model under FRS102 this reserve is now a non-distributable general reserve and is shown net of attributable deferred taxation.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the executors of P W Emmett by virtue of their controlling interest in the ultimate parent company, Emmett of Marlow Limited.