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REGISTERED NUMBER: 03062312 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

W P LEWIS & SON (NEYLAND) LIMITED

W P LEWIS & SON (NEYLAND) LIMITED (REGISTERED NUMBER: 03062312)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W P LEWIS & SON (NEYLAND) LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr S L Lloyd
Mr M R Lewis



SECRETARY: Mr S L Lloyd



REGISTERED OFFICE: Haven Bridge Garage
Neyland
Milford Haven
Pembrokeshire
SA73 1QZ



REGISTERED NUMBER: 03062312 (England and Wales)



ACCOUNTANTS: L M Griffiths & Co Limited
Chartered Certified Accountants
1&2 Merlins Court
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1SB



BANKERS: Barclays Bank Plc
High Street
Haverfordwest
Pembrokeshire
SA61 2DA



SOLICITORS: Philip Roache
12 Meyrick Street
Pembroke Dock
Pembrokeshire
SA72 6XA

W P LEWIS & SON (NEYLAND) LIMITED (REGISTERED NUMBER: 03062312)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 357,855

CURRENT ASSETS
Stocks 122,945 228,387
Debtors 5 347,768 91,848
Cash at bank and in hand 153,220 287
623,933 320,522
CREDITORS
Amounts falling due within one year 6 (80,180 ) (164,980 )
NET CURRENT ASSETS 543,753 155,542
TOTAL ASSETS LESS CURRENT
LIABILITIES

543,753

513,397

CREDITORS
Amounts falling due after more than one
year

7

-

(25,790

)

PROVISIONS FOR LIABILITIES 9 - (307 )
NET ASSETS 543,753 487,300

CAPITAL AND RESERVES
Called up share capital 67 67
Revaluation reserve 10 - 229,012
Capital redemption reserve 33 33
Retained earnings 543,653 258,188
SHAREHOLDERS' FUNDS 543,753 487,300

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.

W P LEWIS & SON (NEYLAND) LIMITED (REGISTERED NUMBER: 03062312)

BALANCE SHEET - 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 29 January 2025 and were signed on its behalf by:




Mr S L Lloyd - Director



Mr M R Lewis - Director


W P LEWIS & SON (NEYLAND) LIMITED (REGISTERED NUMBER: 03062312)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

W P Lewis & Son (Neyland) 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. 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.

The financial statements have been prepared in accordance with the Companies Act 2006. The director is not aware of any material uncertainties in the forthcoming 12 months. As a result the going concern basis of accounting has been adopted.

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
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 - 15% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 20% on cost

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

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.

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.

W P LEWIS & SON (NEYLAND) LIMITED (REGISTERED NUMBER: 03062312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

Revenue recognition
The company's turnover represents the amount derived from motor trading. The company recognises revenue when the sales invoice has been issued to the customer.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 350,000 11,069 84,834
Disposals (350,000 ) (11,069 ) (84,834 )
At 30 April 2024 - - -
DEPRECIATION
At 1 May 2023 - 4,440 84,680
Eliminated on disposal - (4,440 ) (84,680 )
At 30 April 2024 - - -
NET BOOK VALUE
At 30 April 2024 - - -
At 30 April 2023 350,000 6,629 154

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023 13,079 21,946 480,928
Disposals (13,079 ) (21,946 ) (480,928 )
At 30 April 2024 - - -
DEPRECIATION
At 1 May 2023 12,007 21,946 123,073
Eliminated on disposal (12,007 ) (21,946 ) (123,073 )
At 30 April 2024 - - -
NET BOOK VALUE
At 30 April 2024 - - -
At 30 April 2023 1,072 - 357,855

W P LEWIS & SON (NEYLAND) LIMITED (REGISTERED NUMBER: 03062312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

The bank holds a debenture over Haven Bridge Garage, Neyland.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 48,203 90,900
Other debtors 299,565 948
347,768 91,848

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 68,052
Trade creditors 46,645 32,577
Taxation and social security 25,419 3,397
Other creditors 8,116 60,954
80,180 164,980

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors - 25,790

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 68,052

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 307

Deferred
tax
£   
Balance at 1 May 2023 307
Credit to Income Statement during year (307 )
Decrease provision for
accelerated capital allowances
Balance at 30 April 2024 -

W P LEWIS & SON (NEYLAND) LIMITED (REGISTERED NUMBER: 03062312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

10. RESERVES
Revaluation
reserve
£   
At 1 May 2023 229,012
Transfer from revaluation (229,012 )

At 30 April 2024 -

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr S L Lloyd
Balance outstanding at start of year 17,297 2,000
Amounts advanced 54,000 18,000
Amounts repaid (197,500 ) (2,703 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (126,203 ) 17,297

Mr M R Lewis
Balance outstanding at start of year - -
Amounts advanced 1,000 -
Amounts repaid (171,710 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (170,710 ) -