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COMPANY REGISTRATION NUMBER: 07935765
WHEAWILL & SUDWORTH LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
WHEAWILL & SUDWORTH LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
Contents
Pages
Balance sheet 1 to 2
Notes to the financial statements 3 to 6
WHEAWILL & SUDWORTH LIMITED
BALANCE SHEET
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
28,243
19,476
Current assets
Debtors
7
2,067,324
1,884,203
Cash at bank and in hand
3,978,875
3,095,092
------------
------------
6,046,199
4,979,295
Creditors: amounts falling due within one year
8
( 1,464,269)
( 1,299,208)
------------
------------
Net current assets
4,581,930
3,680,087
------------
------------
Total assets less current liabilities
4,610,173
3,699,563
Provisions
Taxation including deferred tax
( 6,250)
( 3,600)
------------
------------
Net assets
4,603,923
3,695,963
------------
------------
Capital and reserves
Called up share capital
10
660
660
Capital redemption reserve
340
340
Profit and loss account
4,602,923
3,694,963
------------
------------
Shareholders funds
4,603,923
3,695,963
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WHEAWILL & SUDWORTH LIMITED
BALANCE SHEET (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 10 December 2024 , and are signed on behalf of the board by:
Mr DM Butterworth
Ms A Hayer
Director
Director
Mr MJ Hindle
Mr R Turner
Director
Director
Mr D Eastham
Director
Company registration number: 07935765
WHEAWILL & SUDWORTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents the value of work done exclusive of Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates which are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
1 to 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
5 years
Equipment
-
5 years
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 49 (2023: 48 ).
The average number of persons employed shown above includes the Directors.
5. Intangible assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
761,213
------------
Amortisation
At 1 May 2023 and 30 April 2024
761,213
------------
Carrying amount
At 30 April 2024
------------
At 30 April 2023
------------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 May 2023
7,891
35,689
43,580
Additions
3,413
18,441
21,854
Disposals
( 6,574)
( 7,873)
( 14,447)
------------
------------
------------
At 30 April 2024
4,730
46,257
50,987
------------
------------
------------
Depreciation
At 1 May 2023
5,695
18,409
24,104
Charge for the year
2,261
10,826
13,087
Disposals
( 6,574)
( 7,873)
( 14,447)
------------
------------
------------
At 30 April 2024
1,382
21,362
22,744
------------
------------
------------
Carrying amount
At 30 April 2024
3,348
24,895
28,243
------------
------------
------------
At 30 April 2023
2,196
17,280
19,476
------------
------------
------------
7. Debtors
2024
2023
£
£
Trade debtors
928,431
983,934
Prepayments and accrued income
176,476
113,433
Amounts recoverable on contracts
962,417
786,836
------------
------------
2,067,324
1,884,203
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
50,311
24,816
Accruals and deferred income
146,596
97,480
Corporation tax
413,500
307,500
Social security and other taxes
408,255
416,787
Directors' current accounts
445,607
452,625
------------
------------
1,464,269
1,299,208
------------
------------
9. Deferred tax
The deferred tax included in the balance sheet is as follows:
2024
2023
£
£
Included in provisions
6,250
3,600
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
6,250
3,600
------------
------------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
330
330
330
330
Ordinary C shares of £ 1 each
166
166
166
166
Ordinary G shares of £1 each
164
164
164
164
------------
------------
------------
------------
660
660
660
660
------------
------------
------------
------------
11. Other financial commitments
Total financial commitments, being operating leases, which are not included in the balance sheet amounted to £178,804 (2023: £245,363).