IRIS Accounts Production v24.3.2.46 00412669 Board of Directors Board of Directors Board of Directors 1.9.23 31.8.24 31.8.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh004126692023-08-31004126692024-08-31004126692023-09-012024-08-31004126692022-08-31004126692022-09-012023-08-31004126692023-08-3100412669ns15:EnglandWales2023-09-012024-08-3100412669ns14:PoundSterling2023-09-012024-08-3100412669ns10:Director12023-09-012024-08-3100412669ns10:Director22023-09-012024-08-3100412669ns10:Director32023-09-012024-08-3100412669ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3100412669ns10:SmallEntities2023-09-012024-08-3100412669ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3100412669ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3100412669ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3100412669ns10:AbridgedAccounts2023-09-012024-08-310041266912023-09-012024-08-3100412669ns10:CompanySecretary12023-09-012024-08-3100412669ns10:RegisteredOffice2023-09-012024-08-3100412669ns5:CurrentFinancialInstruments2024-08-3100412669ns5:CurrentFinancialInstruments2023-08-3100412669ns5:Non-currentFinancialInstruments2024-08-3100412669ns5:Non-currentFinancialInstruments2023-08-3100412669ns5:ShareCapital2024-08-3100412669ns5:ShareCapital2023-08-3100412669ns5:RevaluationReserve2024-08-3100412669ns5:RevaluationReserve2023-08-3100412669ns5:RetainedEarningsAccumulatedLosses2024-08-3100412669ns5:RetainedEarningsAccumulatedLosses2023-08-3100412669ns5:NetGoodwill2023-09-012024-08-3100412669ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3100412669ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-09-012024-08-3100412669ns5:PlantMachinery2023-09-012024-08-3100412669ns5:FurnitureFittings2023-09-012024-08-3100412669ns5:MotorVehicles2023-09-012024-08-3100412669ns5:ComputerEquipment2023-09-012024-08-31004126691ns10:Director12023-08-31004126691ns10:Director12022-08-31004126691ns10:Director12023-09-012024-08-31004126691ns10:Director12022-09-012023-08-31004126691ns10:Director12024-08-31004126691ns10:Director12023-08-3100412669ns10:Director222023-08-3100412669ns10:Director222022-08-3100412669ns10:Director222023-09-012024-08-3100412669ns10:Director222022-09-012023-08-3100412669ns10:Director222024-08-3100412669ns10:Director222023-08-3100412669ns10:Director332023-08-3100412669ns10:Director332022-08-3100412669ns10:Director332023-09-012024-08-3100412669ns10:Director332022-09-012023-08-3100412669ns10:Director332024-08-3100412669ns10:Director332023-08-31
REGISTERED NUMBER: 00412669 (England and Wales)







Financial Statements for the Year Ended 31st August 2024

for

Ideal & W R S Company Ltd

Ideal & W R S Company Ltd (Registered number: 00412669)






Contents of the Financial Statements
for the Year Ended 31st August 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Ideal & W R S Company Ltd

Company Information
for the Year Ended 31st August 2024







DIRECTORS: R M Lugsdin
S Marsland
J C Hitchen





SECRETARY: S Marks





REGISTERED OFFICE: The Old School
Hollyhedge Lane
Walsall
WS2 8PZ





REGISTERED NUMBER: 00412669 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Ideal & W R S Company Ltd (Registered number: 00412669)

Abridged Balance Sheet
31st August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 407,130 473,563
Investments 6 1 1
407,131 473,564

CURRENT ASSETS
Stocks 421,868 411,397
Debtors 495,133 569,546
Cash at bank and in hand 319,253 439,503
1,236,254 1,420,446
CREDITORS
Amounts falling due within one year 618,609 538,218
NET CURRENT ASSETS 617,645 882,228
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,024,776

1,355,792

CREDITORS
Amounts falling due after more than one
year

(60,750

)

(88,128

)

PROVISIONS FOR LIABILITIES (40,344 ) (54,850 )
NET ASSETS 923,682 1,212,814

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Transfer of depreciation in
excess of historical cost 7 139,868 139,868
Retained earnings 763,814 1,052,946
SHAREHOLDERS' FUNDS 923,682 1,212,814

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

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

Ideal & W R S Company Ltd (Registered number: 00412669)

Abridged Balance Sheet - continued
31st August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st January 2025 and were signed on its behalf by:




R M Lugsdin - Director S Marsland - Director




J C Hitchen - Director


Ideal & W R S Company Ltd (Registered number: 00412669)

Notes to the Financial Statements
for the Year Ended 31st August 2024

1. STATUTORY INFORMATION

Ideal & W R S Company Ltd 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. 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.

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 included in the accounts is the amount paid in connection with the acquisition of a business in 2012.In line with FRS 102 the directors have decided to amortise goodwill over a useful life of 10 years, this amortisation has been calculated from the acquisition date.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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

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.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Ideal & W R S Company Ltd (Registered number: 00412669)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 63 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st September 2023
and 31st August 2024 50,000
AMORTISATION
At 1st September 2023
and 31st August 2024 50,000
NET BOOK VALUE

At 31st August 2024 -
At 31st August 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st September 2023 1,182,770
Additions 2,555
Disposals (26,349 )
At 31st August 2024 1,158,976
DEPRECIATION
At 1st September 2023 709,207
Charge for year 62,402
Eliminated on disposal (19,763 )
At 31st August 2024 751,846
NET BOOK VALUE
At 31st August 2024 407,130
At 31st August 2023 473,563

Ideal & W R S Company Ltd (Registered number: 00412669)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st September 2023
and 31st August 2024 47,036
PROVISIONS
At 1st September 2023
and 31st August 2024 47,035
NET BOOK VALUE
At 31st August 2024 1
At 31st August 2023 1

7. RESERVES

NON-DISTRIBUTABLE RESERVE
On transition to FRS 102 the company applied the transitional option to treat fair value of tangible fixed assets at the date of transition as deemed cost. The effect on reserves relating to the difference between fair value and historical cost has been classified a non-distributable reserve (previously treated under old UK GAAP as a revaluation reserve), as under Companies Act 2006 no dividends can be declared out of this element of total reserves.

As allowed by companies Act 2006 section 841, the difference between the historical cost depreciation charge and the actual depreciation charge for the year calculated on the revaluation amount has been transferred from the non-distributable reserve to profit and loss account.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st August 2024 and 31st August 2023:

2024 2023
£    £   
R M Lugsdin
Balance outstanding at start of year (13,997 ) (8,114 )
Amounts advanced 169,592 187,117
Amounts repaid (156,350 ) (193,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (755 ) (13,997 )

S Marsland
Balance outstanding at start of year (13,013 ) (40,456 )
Amounts advanced 50,228 84,943
Amounts repaid (56,750 ) (57,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (19,535 ) (13,013 )

J C Hitchen
Balance outstanding at start of year (11 ) (4,500 )
Amounts advanced 20,197 25,239
Amounts repaid (20,200 ) (20,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14 ) (11 )