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REGISTERED NUMBER: 04958692 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Spencer Wilkinson Construction Limited

Spencer Wilkinson Construction Limited (Registered number: 04958692)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spencer Wilkinson Construction Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: S Wilkinson
I Wilkinson





SECRETARY: I Wilkinson





REGISTERED OFFICE: 8 Winmarleigh Street
Warrington
Cheshire
WA1 1JW





REGISTERED NUMBER: 04958692 (England and Wales)





ACCOUNTANTS: Voisey & Co LLP
Chartered Accountants
8 Winmarleigh Street
Warrington
Cheshire
WA1 1JW

Spencer Wilkinson Construction Limited (Registered number: 04958692)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 301,147 315,790
301,147 315,790

CURRENT ASSETS
Stocks 6 241,507 287,510
Debtors 7 205,339 311,103
Cash at bank and in hand 1,135,302 751,815
1,582,148 1,350,428
CREDITORS
Amounts falling due within one year 8 301,148 365,332
NET CURRENT ASSETS 1,281,000 985,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,582,147

1,300,886

PROVISIONS FOR LIABILITIES 11,412 14,279
NET ASSETS 1,570,735 1,286,607

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 1,570,635 1,286,507
SHAREHOLDERS' FUNDS 1,570,735 1,286,607

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Spencer Wilkinson Construction Limited (Registered number: 04958692)

Balance Sheet - continued
30 November 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 17 January 2025 and were signed on its behalf by:




S Wilkinson - Director



I Wilkinson - Director


Spencer Wilkinson Construction Limited (Registered number: 04958692)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Spencer Wilkinson Construction 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The key assumptions concerning the future and other key sources of estimation include uncertainties at the reporting date, which may have a risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial periods, are discussed below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


Spencer Wilkinson Construction Limited (Registered number: 04958692)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the net asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Spencer Wilkinson Construction Limited (Registered number: 04958692)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of the short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 60,000
AMORTISATION
At 1 December 2023
and 30 November 2024 60,000
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

Spencer Wilkinson Construction Limited (Registered number: 04958692)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and Motor
buildings machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2023 258,673 26,285 600 89,153 374,711
Additions - 10,150 - - 10,150
Disposals - (17,526 ) - (20,875 ) (38,401 )
At 30 November 2024 258,673 18,909 600 68,278 346,460
DEPRECIATION
At 1 December 2023 - 17,043 600 41,278 58,921
Charge for year 3,173 4,550 - 17,070 24,793
Eliminated on disposal - (17,526 ) - (20,875 ) (38,401 )
At 30 November 2024 3,173 4,067 600 37,473 45,313
NET BOOK VALUE
At 30 November 2024 255,500 14,842 - 30,805 301,147
At 30 November 2023 258,673 9,242 - 47,875 315,790

Included in cost of land and buildings is freehold land of £ 100,000 (2023 - £ 100,000 ) which is not depreciated.

6. STOCKS
30.11.24 30.11.23
£    £   
Work-in-progress 241,507 287,510

7. DEBTORS
30.11.24 30.11.23
£    £   
Amounts falling due within one year:
Trade debtors 42,092 122,446
Other debtors 12,584 11,831
NHBC bond 10,636 10,636
VAT 1,985 18,128
Prepayments and accrued income 20,018 19,034
87,315 182,075

Amounts falling due after more than one year:
Other debtors 118,024 129,028

Aggregate amounts 205,339 311,103

Spencer Wilkinson Construction Limited (Registered number: 04958692)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 36,186 176,709
Tax 127,819 114,960
Social security and other taxes 1,668 1,482
Other creditors 74,666 -
Directors' current accounts 50,725 63,631
Accruals and deferred income 10,084 8,550
301,148 365,332

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
100 Ordinary £1 £100 100 100

10. RESERVES
Retained
earnings
£   

At 1 December 2023 1,286,507
Profit for the year 368,128
Dividends (84,000 )
At 30 November 2024 1,570,635

11. RELATED PARTY DISCLOSURES

There is an amount of £129,103 (2023: £150,000) included within other debtors relating to a loan made to the Director's brother for which there is a loan agreement in place and compounded monthly interest is being charged at 3.5%.