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REGISTERED NUMBER: 04707401 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

WKF 98 LIMITED

WKF 98 LIMITED (REGISTERED NUMBER: 04707401)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WKF 98 LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: Mr W K Foster
Mr C Gurney





SECRETARY: Mrs R S Foster





REGISTERED OFFICE: Station Works
21 Ings Lane
Brompton-by-Sawdon
Scarborough
North Yorkshire
YO13 9DR





REGISTERED NUMBER: 04707401 (England and Wales)

WKF 98 LIMITED (REGISTERED NUMBER: 04707401)

STATEMENT OF FINANCIAL POSITION
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 296,869 226,414

CURRENT ASSETS
Inventories 152,804 142,295
Debtors 5 314,079 332,144
Cash at bank and in hand 644 182
467,527 474,621
CREDITORS
Amounts falling due within one year 6 602,159 488,200
NET CURRENT LIABILITIES (134,632 ) (13,579 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,237

212,835

CREDITORS
Amounts falling due after more than one year 7 (87,943 ) (108,940 )

PROVISIONS FOR LIABILITIES (61,015 ) (56,604 )
NET ASSETS 13,279 47,291

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 13,079 47,091
SHAREHOLDERS' FUNDS 13,279 47,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

WKF 98 LIMITED (REGISTERED NUMBER: 04707401)

STATEMENT OF FINANCIAL POSITION - continued
30 April 2024


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 Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:




Mr W K Foster - Director



Mr C Gurney - Director


WKF 98 LIMITED (REGISTERED NUMBER: 04707401)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024


1. STATUTORY INFORMATION

WKF 98 Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have considered the financial resources and commitments of the company and have concluded that there are sufficient resources in place to continue operating for the foreseeable future. The directors therefore consider it appropriate to continue to prepare the accounts on the going concern basis.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
No significant judgements have had to be made by management in preparing these financial statements.

Critical accounting estimates and assumptions
The directors do not consider that any other estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year

Revenue
Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration.

Plant and equipment
Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

Plant and machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 33% on cost

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

WKF 98 LIMITED (REGISTERED NUMBER: 04707401)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets acquired under finance lease agreements, including hire purchase agreements, are capitalised and the corresponding liability is included in creditors. Finance lease interest is charged to the profit and loss account on a sum of digits basis over the period of the agreement. Operating lease rentals are charged against profits of the period to which they relate.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

WKF 98 LIMITED (REGISTERED NUMBER: 04707401)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 322,876 14,419 245,634 26,395 609,324
Additions 57,974 370 95,434 7,996 161,774
Disposals (34,100 ) (510 ) (67,357 ) (5,910 ) (107,877 )
At 30 April 2024 346,750 14,279 273,711 28,481 663,221
DEPRECIATION
At 1 May 2023 217,710 9,430 137,377 18,392 382,909
Charge for year 34,952 1,190 28,099 3,716 67,957
Eliminated on disposal (31,040 ) (170 ) (49,307 ) (3,997 ) (84,514 )
At 30 April 2024 221,622 10,450 116,169 18,111 366,352
NET BOOK VALUE
At 30 April 2024 125,128 3,829 157,542 10,370 296,869
At 30 April 2023 105,166 4,989 108,257 8,003 226,415

The net book value of property, plant and equipment includes £ 134,955 (2023 - £ 59,821 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 220,438 275,852
Other debtors 93,641 56,292
314,079 332,144

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 131,543 53,587
Hire purchase contracts 23,215 16,676
Trade creditors 66,522 45,099
Amounts owed to group undertakings 278,691 230,741
Taxation and social security 94,146 132,760
Other creditors 8,042 9,337
602,159 488,200

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 43,791 89,178
Hire purchase contracts 44,152 19,762
87,943 108,940

WKF 98 LIMITED (REGISTERED NUMBER: 04707401)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 85,663 10,641
Bank loans 89,671 132,124
Hire purchase contracts 67,367 36,438
242,701 179,203

Bank borrowings are secured by way of fixed and floating charges over the company's assets. The director has also given a personal guarantee in favour of the bank in the sum of £153,655.

The hire purchase agreements are secured on the underlying assets.