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REGISTERED NUMBER: 00509125 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

W.B WRIGHT & SONS LIMITED

W.B WRIGHT & SONS LIMITED (REGISTERED NUMBER: 00509125)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

W.B WRIGHT & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: W P Wright
Miss L F Proctor





SECRETARY: W D Wright





REGISTERED OFFICE: Red House Farm
Red House Corner
Gedney Marsh
Spalding
Lincolnshire
PE12 9NG





REGISTERED NUMBER: 00509125 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

W.B WRIGHT & SONS LIMITED (REGISTERED NUMBER: 00509125)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 884,827 981,759
Investments 6 916,154 916,054
1,800,981 1,897,813

CURRENT ASSETS
Stocks 7 157,562 411,983
Debtors 8 2,325,171 1,508,382
Investments 9 - 324,036
Cash at bank 536,504 315,258
3,019,237 2,559,659
CREDITORS
Amounts falling due within one year 10 705,122 589,060
NET CURRENT ASSETS 2,314,115 1,970,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,115,096

3,868,412

CREDITORS
Amounts falling due after more than one
year

11

250,000

500,000
NET ASSETS 3,865,096 3,368,412

CAPITAL AND RESERVES
Called up share capital 13,768 13,768
Capital redemption reserve 22,634 22,634
Fair value reserve - (106,256 )
Retained earnings 3,828,694 3,438,266
SHAREHOLDERS' FUNDS 3,865,096 3,368,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

W.B WRIGHT & SONS LIMITED (REGISTERED NUMBER: 00509125)

BALANCE SHEET - continued
31 MAY 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 6 December 2024 and were signed on its behalf by:





W P Wright - Director


W.B WRIGHT & SONS LIMITED (REGISTERED NUMBER: 00509125)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

W.B Wright & Sons 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

Preparation of consolidated financial statements
The financial statements contain information about W.B Wright & Sons Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 and depreciation
Depreciation is provided on cost in equal annual instalments over the estimated useful lives of the assets. The rates of depreciation are as follows:

Freehold land and buildings 0% (land), 10% reducing balance, 10% straight line

Plant and machinery 7.5% / 12.5% / 28% reducing balance, 10% straight line

Fixtures and fittings 10% to 30% reducing balance


Depreciation is not provided on freehold property where, in the opinion of the director, the residual value of the property is such that any depreciation on the property would be immaterial.

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

W.B WRIGHT & SONS LIMITED (REGISTERED NUMBER: 00509125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed Asset Investments are held on a historical cost basis.

Current Asset Investments include listed securities and are held at fair value with any material changes being reflected in the fair value reserve.

W.B WRIGHT & SONS LIMITED (REGISTERED NUMBER: 00509125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and Plant and and
buildings machinery fittings Totals
£    £    £    £   
COST
At 1 June 2023 1,447,368 361,073 14,096 1,822,537
Additions - 41,044 217 41,261
Disposals (108,544 ) (23,554 ) (4,412 ) (136,510 )
At 31 May 2024 1,338,824 378,563 9,901 1,727,288
DEPRECIATION
At 1 June 2023 559,863 271,060 9,855 840,778
Charge for year 6,657 21,151 553 28,361
Eliminated on disposal - (22,291 ) (4,387 ) (26,678 )
At 31 May 2024 566,520 269,920 6,021 842,461
NET BOOK VALUE
At 31 May 2024 772,304 108,643 3,880 884,827
At 31 May 2023 887,505 90,013 4,241 981,759

6. FIXED ASSET INVESTMENTS
Interest
in other
participating Unlisted
interests investments Totals
£    £    £   
COST
At 1 June 2023 916,000 54 916,054
Additions - 100 100
At 31 May 2024 916,000 154 916,154
NET BOOK VALUE
At 31 May 2024 916,000 154 916,154
At 31 May 2023 916,000 54 916,054

7. STOCKS
31.5.24 31.5.23
£    £   
Raw materials 157,562 284,218
Other stock - 127,765
157,562 411,983

W.B WRIGHT & SONS LIMITED (REGISTERED NUMBER: 00509125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 56,529 236,690
Other debtors 1,547,101 847,912
Tax 82 79
VAT 24,598 17,349
Deferred tax asset 189,793 251,475
Prepayments and accrued income 507,068 154,877
2,325,171 1,508,382

9. CURRENT ASSET INVESTMENTS

Listed Investments
31.5.2431.5.23
££
Valuation at 1 June324,036774,284
Disposal in year(324,036)(412,096)
Additions in year12,296
Fair value adjustments (50,449)


Valuation at 31 MayNIL324,036

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts - 10,000
Other loans 289,796 298,211
Trade creditors 139,913 113,266
Social security and other taxes 7,825 3,748
Wages creditor - 518
Directors' current accounts 103,010 33,722
Accruals and deferred Income 164,578 129,595
705,122 589,060

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans more 5 yrs non-inst 250,000 500,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 250,000 500,000

W.B WRIGHT & SONS LIMITED (REGISTERED NUMBER: 00509125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

12. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 250,000 510,000

The bank overdraft and loans are secured against the assets of the company.

13. RELATED PARTY DISCLOSURES

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.

Included within other debtors are amounts due from companies in which a director had a material interest
totalling £816,604 (2023: £210,843). There are no terms as to repayments in respect of the amounts and they are repayable on demand.

Included within other debtors are amounts due from a company in which W B Wright & Sons has a participating interest totalling £381,940 (2023: £399,696). There are no terms as to repayments in respect of the amounts and they are repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
W.B WRIGHT & SONS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W.B Wright & Sons Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that W.B Wright & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W.B Wright & Sons Limited. You consider that W.B Wright & Sons 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 financial statements of W.B Wright & Sons 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 financial statements.






D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL


9 December 2024