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REGISTERED NUMBER: 15138946 (England and Wales)



















Strategic Report, Report of the Directors and

Financial Statements

for the Period 14 September 2023 to 30 April 2024

for

Wiltech Acoustics Limited

Wiltech Acoustics Limited (Registered number: 15138946)






Contents of the Financial Statements
for the Period 14 September 2023 to 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Profit and Loss Account 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


Wiltech Acoustics Limited

Company Information
for the Period 14 September 2023 to 30 April 2024







DIRECTORS: V A Wilmott
C M Wilmott
A K Wilmott





SECRETARY: A K Wilmott





REGISTERED OFFICE: Heanor Gate Industrial Estate
Heanor Gate Road
Heanor
Derbyshire
DE75 7RJ





REGISTERED NUMBER: 15138946 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Wiltech Acoustics Limited (Registered number: 15138946)

Strategic Report
for the Period 14 September 2023 to 30 April 2024

The directors present their strategic report for the period 14 September 2023 to 30 April 2024.

REVIEW OF BUSINESS
Wiltech Acoustics Limited is a leading provider of advanced acoustic solutions, specializing in the design, manufacture, and installation of high-performance acoustic products. Our mission is to deliver innovative acoustic solutions that enhance the auditory environment for our clients across various industries.

We aim to present a balanced and comprehensive review of the development and performance of the business during the past financial year and its position at the year-end. Our review is consistent with the size, nature and complexity of the business.

This report reflects the progress made by the business since its commencement of operations on 22nd September 2023. We consider that our key financial performance indicators are those that communicate the financial performance and strength of the business as a whole, those being turnover and profit margins.

Turnover for the period from 22nd September 2023 to 30th April 2024 was £6,422,010.

The company's gross profit margin was 38.9% to due to the controls and processes that were immediately put in place within the business.

The company has continued to invest in equipment, facilities, systems and staff to drive growth and improve control in the business. The benefits of these investments will be seen in the continued growth of the business in future periods.

The directors are satisfied with the results and year-end financial position, and the directors hope to achieve growth by additional contracts won, improved efficiencies and a continuous monitoring of overheads.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and the execution of the company's strategy are subject to a number of risks. The profitability and infrastructure of the business within the company are continually monitored by the directors in the light of changes within the highly competitive industry and changes implemented where deemed appropriate. The principal risks are considered to be the ongoing support from it's sister company WB Power Services Limited. However, the shareholders of the ultimate parent company, Wilmott Group Limited remain committed towards supporting the growth the company and excited for its future prospects.

FINANCIAL INSTRUMENTS
The company uses basic financial instruments such as hire purchase, finance leases and banking facilities to finance capital expenditure and growth.

Cash flow risk
Cash flow is carefully managed and the directors consider that the controls and facilities in place are adequate to meet the needs of the business.

Financial risk
The directors manage the company's exposure to financial risk by researching the credit worthiness of customers and by seeking advice from the company's providers of finance and its other external financial advisers.

Interest rate risk
The company finances its operations through a mixture of retained profits, bank borrowing and hire purchase leases.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Primarily this is achieved through bank borrowings and retained profits. The company policy throughout the period has been to ensure continuity of funding and short term flexibility was achieved by overdraft facilities.

Wiltech Acoustics Limited (Registered number: 15138946)

Strategic Report
for the Period 14 September 2023 to 30 April 2024


Currency risk
Currency risk is restricted to the short term settlement of trading balances with customers and suppliers.

ORGANISATION
The directors continue to monitor the company's organisation and profitability in light of changes within a highly competitive industry. Changes are implemented where deemed appropriate in order to minimise the effects of the risks and uncertainties the company faces in retaining market share and maintaining margins.

RESEARCH AND DEVELOPMENT
The company continues to invest in the quality and design of its products believing that continued investment in research and development is fundamental to the growth of the business.

ON BEHALF OF THE BOARD:





A K Wilmott - Director


31 January 2025

Wiltech Acoustics Limited (Registered number: 15138946)

Report of the Directors
for the Period 14 September 2023 to 30 April 2024

The directors present their report with the financial statements of the company for the period 14 September 2023 to 30 April 2024.

INCORPORATION
The company was incorporated on 14 September 2023 .

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of manufacture of metal structures and parts of structures.

DIVIDENDS
No dividends will be distributed for the period ended 30 April 2024.

DIRECTORS
The directors who have held office during the period from 14 September 2023 to the date of this report are as follows:

V A Wilmott - appointed 19 September 2023
C M Wilmott - appointed 19 September 2023
A K Wilmott - appointed 14 September 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





A K Wilmott - Director


31 January 2025

Report of the Independent Auditors to the Members of
Wiltech Acoustics Limited

Opinion
We have audited the financial statements of Wiltech Acoustics Limited (the 'company') for the period ended 30 April 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Wiltech Acoustics Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Based on our understanding of the company and industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the care industry and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. Audit procedures performed by the engagement team included:

- Enquiry of management around actual and potential litigation and claims;
- Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations;
- Performing audit work over the risk of management override of controls, including testing of
journal entries and other adjustments for appropriateness, evaluating the business rationale of
significant transactions outside the normal course of business and reviewing accounting estimates
for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Wiltech Acoustics Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Ian Neal FCA CTA (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

31 January 2025

Wiltech Acoustics Limited (Registered number: 15138946)

Profit and Loss Account
for the Period 14 September 2023 to 30 April 2024

Notes £   

TURNOVER 6,422,010

Cost of sales 3,922,474
GROSS PROFIT 2,499,536

Administrative expenses 1,758,910
OPERATING PROFIT 4 740,626

Interest receivable and similar income 2,888
743,514

Interest payable and similar expenses 5 1,047
PROFIT BEFORE TAXATION 742,467

Tax on profit 6 189,334
PROFIT FOR THE FINANCIAL PERIOD 553,133

OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

553,133

Wiltech Acoustics Limited (Registered number: 15138946)

Balance Sheet
30 April 2024

Notes £    £   
FIXED ASSETS
Intangible assets 7 212,623
Tangible assets 8 855,279
1,067,902

CURRENT ASSETS
Stocks 9 233,820
Debtors 10 5,571,777
Cash at bank 172,656
5,978,253
CREDITORS
Amounts falling due within one year 11 6,249,432
NET CURRENT LIABILITIES (271,179 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

796,723

CREDITORS
Amounts falling due after more than one
year

12

(49,256

)

PROVISIONS FOR LIABILITIES 15 (189,334 )
NET ASSETS 558,133

CAPITAL AND RESERVES
Called up share capital 16 5,000
Retained earnings 17 553,133
SHAREHOLDERS' FUNDS 558,133

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





A K Wilmott - Director


Wiltech Acoustics Limited (Registered number: 15138946)

Statement of Changes in Equity
for the Period 14 September 2023 to 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Profit for the period - 553,133 553,133
Total comprehensive income - 553,133 553,133
Issue of share capital 5,000 - 5,000
Balance at 30 April 2024 5,000 553,133 558,133

Wiltech Acoustics Limited (Registered number: 15138946)

Notes to the Financial Statements
for the Period 14 September 2023 to 30 April 2024

1. STATUTORY INFORMATION

Wiltech Acoustics 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company is a wholly owned subsidiary undertaking of The Wilmott Group Limited. The company has taken advantage of the exemption contained within Financial Reporting Standard 102 and has therefore not disclosed transactions with entities which form part of this group, other than as normally disclosed in the notes to the financial statements.

Turnover
Other than on certain long term contracts, turnover represents the amounts (excluding value added
tax) derived from the provision of goods, services and rentals charged under operating leases.
Turnover is recognised when the company has transferred the significant risks and rewards of
ownership to the buyer and it is probable that the company will receive the agreed upon payment. On
certain long term contracts, turnover represents the estimated sales value of the work performed in the
year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being
amortised evenly over its estimated useful life of ten 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.

Wiltech Acoustics Limited (Registered number: 15138946)

Notes to the Financial Statements - continued
for the Period 14 September 2023 to 30 April 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment loss. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Plant and machinery- 15% on reducing balance
Fixtures and fittings- 25% on cost
Computer equipment- 33% on cost

The assets' residual values, useful lives and the depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the profit and loss account.

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

Work in progress cost includes direct labour. Cost represents the invoiced cost of materials and parts on an average cost basis and an appropriate amount of fixed and variable overheads.

Net realisable value is based on the estimated selling price less further costs expected to be incurred to completion and disposal.

At each reporting date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less cost to complete the sell. The impairment loss is recognised immediately in the profit and loss amount.

Long term contract balances are stated at total costs incurred, net of amount transferred to the profit and loss account in respect of work carried out to sate, less foreseeable losses and applicable payment on accounts.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Wiltech Acoustics Limited (Registered number: 15138946)

Notes to the Financial Statements - continued
for the Period 14 September 2023 to 30 April 2024

2. ACCOUNTING POLICIES - continued

The company operates defined contribution plans for its employees. A defined contribution plan is pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as an expense when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Deferred tax
Deferred tax arises from timing differences that are differences between taxable total profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted.

Provision is made at current rates for taxation deferred in respect of all material timing differences.

Judgements in applying accounting policies and key sources of estimation
In the application of the company's accounting policies the directors are required to make judgement estimates and assumptions about the carrying amounts of the company's assets and liabilities. These are based on historical experience and other factors that are considered relevant and are reviewed on a regular basis and recognised in the period in which the estimate is revised. Actual results may differ from these estimates.

The following are the critical judgements and where relevant the key sources of estimation uncertainty:

Tangible fixed assets are depreciated over their useful economic lives taking in to account their residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken in to account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values.

The recoverability of debtors is assessed on the likelihood and circumstances of the particular cost.

The value of stock is assessed for impairment. In re-assessing the stock value, factors such as slow movement and obsolescence are taken in to account.

Long term contracts are those extending in excess of 12 months and any of a shorter duration which are material to the activity of the period. Attributable profit is recognised once the outcome of a long term contract can be assessed with reasonable certainty. Attributable profit is recognised on the cost percentage completion method. Immediate provision is made for all foreseeable losses if a contract is assessed as unprofitable.

3. EMPLOYEES AND DIRECTORS
£   
Wages and salaries 1,511,439
Social security costs 152,615
Other pension costs 83,654
1,747,708

Wiltech Acoustics Limited (Registered number: 15138946)

Notes to the Financial Statements - continued
for the Period 14 September 2023 to 30 April 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:

Engineers and drivers 72
Management and administration 12
Directors 3
87

£   
Directors' remuneration -

4. OPERATING PROFIT

The operating profit is stated after charging:

£   
Hire of plant and machinery 77,346
Depreciation - owned assets 72,989
Goodwill amortisation 13,171
Auditors' remuneration for non audit work 2,450

5. INTEREST PAYABLE AND SIMILAR EXPENSES
£   
Hire purchase interest 1,047

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
£   
Deferred tax 189,334
Tax on profit 189,334

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

£   
Profit before tax 742,467
Profit multiplied by the standard rate of corporation tax in the UK of
25%

185,617

Effects of:
Expenses not deductible for tax purposes 7,496
Other timing differences 861
Group relief (4,640 )
Total tax charge 189,334

Wiltech Acoustics Limited (Registered number: 15138946)

Notes to the Financial Statements - continued
for the Period 14 September 2023 to 30 April 2024

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 225,794
At 30 April 2024 225,794
AMORTISATION
Amortisation for period 13,171
At 30 April 2024 13,171
NET BOOK VALUE
At 30 April 2024 212,623

8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
Additions 845,039 24,016 59,213 928,268
At 30 April 2024 845,039 24,016 59,213 928,268
DEPRECIATION
Charge for period 63,913 363 8,713 72,989
At 30 April 2024 63,913 363 8,713 72,989
NET BOOK VALUE
At 30 April 2024 781,126 23,653 50,500 855,279

The net book value of tangible fixed assets includes £182,500 in respect of assets held under hire purchase contracts.

9. STOCKS
£   
Stocks 100,716
Work-in-progress 133,104
233,820

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 4,496,751
Amounts recoverable on contract 690,967
Other debtors 5,619
Prepayments 378,440
5,571,777

Wiltech Acoustics Limited (Registered number: 15138946)

Notes to the Financial Statements - continued
for the Period 14 September 2023 to 30 April 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts (see note 13) 73,884
Trade creditors 1,542,053
Social security and other taxes 555,600
Other creditors 14,458
Amounts owed to group
undertakings 3,742,838
Accrued expenses 320,599
6,249,432

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts (see note 13) 49,256

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 73,884
Between one and five years 49,256
123,140


Non-cancellable
operating leases
£   
Within one year 523,950
Between one and five years 261,975
785,925

14. SECURED DEBTS

The following secured debts are included within creditors:

£   
Hire purchase contracts 123,140

Hire purchase balances are secured on the assets to which they relate.

15. PROVISIONS FOR LIABILITIES
£   
Deferred tax 189,334

Wiltech Acoustics Limited (Registered number: 15138946)

Notes to the Financial Statements - continued
for the Period 14 September 2023 to 30 April 2024

15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during period 189,334
Balance at 30 April 2024 189,334

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
250,000 Ordinary 1p 1p 2,500
250,000 Non Voting A Shares 1p 1p 2,500
5,000

2,500 Ordinary £1 shares and 2,500 Non-voting A £1 shares were issued on incorporation. During the year, the shares were sub-divided into 250,000 Ordinary 1p shares and 250,000 Non-voting A 1p shares.

17. RESERVES
Retained
earnings
£   

Profit for the period 553,133
At 30 April 2024 553,133

18. ULTIMATE PARENT COMPANY

The company's immediate and ultimate parent undertaking is The Wilmott Group Limited, Heanor Gate Industrial Estate, Heanor Gate Road, Heanor, DE75 7RJ. Copies of the consolidated financial statements of the Wilmott Group Limited are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

19. OTHER FINANCIAL COMMITMENTS

The company has an undertaking to its bankers for full group security incorporating debentures and corporate guarantees for the group's borrowings. The net amount outstanding to the bank in respect of this undertaking at 30 April 2024 was £Nil.

20. EMPLOYEE BENEFITS

Included within the notes to the financial statements are payments to the defined contribution pension scheme.