1 May 2023 v2025.5.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP006414682023-05-012024-04-30006414682024-04-30006414682023-04-3000641468core:WithinOneYear2024-04-3000641468core:WithinOneYear2023-04-3000641468core:ShareCapital2024-04-3000641468core:ShareCapital2023-04-3000641468core:OtherReservesSubtotal2024-04-3000641468core:OtherReservesSubtotal2023-04-3000641468core:RetainedEarningsAccumulatedLosses2024-04-3000641468core:RetainedEarningsAccumulatedLosses2023-04-3000641468bus:Director12023-05-012024-04-3000641468bus:RegisteredOffice2023-05-012024-04-3000641468core:NetGoodwill2023-05-012024-04-3000641468core:OtherResidualIntangibleAssets2023-05-012024-04-3000641468core:LandBuildings2023-05-012024-04-3000641468core:PlantMachinery2023-05-012024-04-3000641468core:MotorVehicles2023-05-012024-04-30006414682022-05-012023-04-3000641468core:NetGoodwill2024-04-3000641468core:LandBuildings2023-05-0100641468core:PlantMachinery2023-05-01006414682023-05-0100641468core:LandBuildings2024-04-3000641468core:PlantMachinery2024-04-3000641468core:LandBuildings2023-04-3000641468core:PlantMachinery2023-04-3000641468core:CostValuation2023-05-0100641468core:CostValuation2024-04-300064146812023-05-012024-04-3000641468countries:EnglandWales2023-05-012024-04-3000641468bus:AuditExemptWithAccountantsReport2023-05-012024-04-3000641468bus:PrivateLimitedCompanyLtd2023-05-012024-04-3000641468bus:SmallEntities2023-05-012024-04-3000641468bus:FullAccounts2023-05-012024-04-30
Company registration number:
00641468
Wimbledon Sewing Machine Co Ltd
Unaudited Filleted Financial Statements for the year ended
30 April 2024
Wimbledon Sewing Machine Co Ltd
Statement of Financial Position
30 April 2024
20242023
Note££
Fixed assets    
Tangible assets 6
1,230,789
 
1,241,319
 
Investments 7
1
 
1
 
1,230,790
 
1,241,320
 
Current assets    
Stocks
206,547
 
199,156
 
Debtors 8
168,560
 
73,881
 
Cash at bank and in hand
(193,787
)
(82,471
)
181,320
 
190,566
 
Creditors: amounts falling due within one year 9
(116,916
)
(40,554
)
Net current assets
64,404
 
150,012
 
Total assets less current liabilities 1,295,194   1,391,332  
Capital and reserves    
Called up share capital
5,000
 
5,000
 
Other reserves
211,996
 
211,996
 
Profit and loss account
1,078,198
 
1,174,336
 
Shareholders funds
1,295,194
 
1,391,332
 
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.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
28 January 2025
, and are signed on behalf of the board by:
Mr Warren Keith Rushton
Director
Company registration number:
00641468
Wimbledon Sewing Machine Co Ltd
Notes to the Financial Statements
Year ended
30 April 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
292-312 Balham High Road
,
Upper Tooting
,
London
,
SW17 7AA
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Other intangible assets
10% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 40 years
Plant and machinery
15% straight line
Motor vehicles
25% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension plan

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 Average number of employees

The average number of persons employed by the company during the year was
16
(2023:
17
).

5 Intangible assets

Goodwill
£
Cost  
At
1 May 2023
and
30 April 2024
760
 
Amortisation  
At
1 May 2023
and
30 April 2024
760
 
Carrying amount  
At
30 April 2024
-  
At 30 April 2023 -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 May 2023
1,684,220
 
369,121
 
2,053,341
 
Additions -  
12,733
 
12,733
 
Disposals -  
(9,680
)
(9,680
)
At
30 April 2024
1,684,220
 
372,174
 
2,056,394
 
Depreciation      
At
1 May 2023
471,406
 
340,616
 
812,022
 
Charge
15,783
 
6,935
 
22,718
 
Disposals -  
(9,135
)
(9,135
)
At
30 April 2024
487,189
 
338,416
 
825,605
 
Carrying amount      
At
30 April 2024
1,197,031
 
33,758
 
1,230,789
 
At 30 April 2023
1,212,814
 
28,505
 
1,241,319
 

7 Investments

Other investments other than loans
£
Cost  
At
1 May 2023
1
 
At
30 April 2024
1
 
Impairment  
At
1 May 2023
and
30 April 2024
-  
Carrying amount  
At
30 April 2024
1
 
At 30 April 2023
1
 

8 Debtors

20242023
££
Trade debtors
74,524
 
62,548
 
Other debtors
94,036
 
11,333
 
168,560
 
73,881
 

9 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
570
  -  
Trade creditors
33,311
 
15,633
 
Taxation and social security
28,218
 
24,358
 
Other creditors
54,817
 
563
 
116,916
 
40,554