Wire and Wood Limited 14246960 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is wholesale fencing and timber products Digita Accounts Production Advanced 6.30.9574.0 true 14246960 2023-04-01 2024-03-31 14246960 2024-03-31 14246960 bus:OrdinaryShareClass1 2024-03-31 14246960 core:CurrentFinancialInstruments 2024-03-31 14246960 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14246960 core:FurnitureFittingsToolsEquipment 2024-03-31 14246960 bus:SmallEntities 2023-04-01 2024-03-31 14246960 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14246960 bus:FilletedAccounts 2023-04-01 2024-03-31 14246960 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14246960 bus:RegisteredOffice 2023-04-01 2024-03-31 14246960 bus:Director1 2023-04-01 2024-03-31 14246960 bus:Director2 2023-04-01 2024-03-31 14246960 bus:Director3 2023-04-01 2024-03-31 14246960 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 14246960 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14246960 bus:Agent1 2023-04-01 2024-03-31 14246960 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 14246960 core:PlantMachinery 2023-04-01 2024-03-31 14246960 countries:EnglandWales 2023-04-01 2024-03-31 14246960 2023-03-31 14246960 core:FurnitureFittingsToolsEquipment 2023-03-31 14246960 2022-07-20 2023-03-31 14246960 2023-03-31 14246960 bus:OrdinaryShareClass1 2023-03-31 14246960 core:CurrentFinancialInstruments 2023-03-31 14246960 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14246960 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14246960

Wire and Wood Limited

Annual Report and Unaudited Financial Statements Year Ended 31 March 2024

image-name

Chartered Accountants

 

Wire and Wood Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Wire and Wood Limited

Company Information

Directors

Mr James Dulake Hill

Mr John James Hill

Miss Flora Ellen Hill

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards and Keeping Limited
Chartered accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Wire and Wood Limitedfor the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wire and Wood Limited for the year ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Wire and Wood Limited, as a body, in accordance with the terms of our engagement letter dated 5 August 2022. Our work has been undertaken solely to prepare for your approval the accounts of Wire and Wood Limited and state those matters that we have agreed to state to the Board of Directors of Wire and Wood Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wire and Wood Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Wire and Wood Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Wire and Wood Limited. You consider that Wire and Wood Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Wire and Wood Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards and Keeping Limited
Chartered accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

19 November 2024

 

Wire and Wood Limited

(Registration number: 14246960)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,585

2,113

Current assets

 

Stocks

5

25,000

7,500

Debtors

6

68,007

42,657

Cash at bank and in hand

 

88,911

71,515

 

181,918

121,672

Creditors: Amounts falling due within one year

7

(129,355)

(111,366)

Net current assets

 

52,563

10,306

Net assets

 

54,148

12,419

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

54,138

12,409

Shareholders' funds

 

54,148

12,419

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 



Mr James Dulake Hill
Director

 

Wire and Wood Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

The principal place of business is:
16 St Mary's Close
Winterborne Whitechurch
BLANDFORD FORUM
Dorset
DT11 0DJ

These financial statements were authorised for issue by the Board on 19 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Wire and Wood Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Wire and Wood Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Wire and Wood Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

2,818

2,818

At 31 March 2024

2,818

2,818

Depreciation

At 1 April 2023

705

705

Charge for the year

528

528

At 31 March 2024

1,233

1,233

Carrying amount

At 31 March 2024

1,585

1,585

At 31 March 2023

2,113

2,113

5

Stocks

2024
£

2023
£

Other inventories

25,000

7,500

6

Debtors

Current

2024
£

2023
£

Trade debtors

67,336

42,198

Prepayments

661

449

Other debtors

10

10

 

68,007

42,657

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

100,000

-

Trade creditors

 

-

96,627

Taxation and social security

 

10,255

5,072

Accruals and deferred income

 

5,203

1,021

Other creditors

 

13,897

8,646

 

129,355

111,366

8

Share capital

Allotted, called up and fully paid shares

 

Wire and Wood Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

100,000

-

10

Related party transactions

Transactions with directors and their related parties:-

James Hill (director) is also a director of Hill Fencing Limited.

During the year ended 31 March 2024, the company purchased goods and services from Hill Fencing Ltd (on normal commercial terms) for £nil (2023 £78,012).

The company sold goods to Hill Fencing Ltd (on normal commercial terms) totalling £60,877 in the year ended 31 March 2024. (£14,654 in the period ended 31 March 2023)

Included in Trade creditors (note 7 to the financial statements) is £nil owing by the company to Hill Fencing Ltd at 31 March 2024. (£87,615 owing at 31 March 2024).

Included in Other creditors (note 7 to the financial statements) is £13,897 owing by the company to Hill Fencing Ltd at 31 March 2023. (£8,647 owing at 31 March 2023)

Included in Loans and borrowings (note 10 to the financial statements) is £100,000 loaned to the company by Hill Fencing Ltd. The loan is made on normal commercial terms and is repayable on demand.