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REGISTERED NUMBER: 09021594 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WILEY'S FINEST UK LIMITED

WILEY'S FINEST UK LIMITED (REGISTERED NUMBER: 09021594)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WILEY'S FINEST UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr P L Farquhar
Mr J N Wiley
Mr G D Lindsey





REGISTERED OFFICE: Omega House
Cornford Road
Blackpool
FY4 4QQ





REGISTERED NUMBER: 09021594 (England and Wales)





AUDITORS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

WILEY'S FINEST UK LIMITED (REGISTERED NUMBER: 09021594)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,551
Tangible assets 5 - 8,169
- 13,720

CURRENT ASSETS
Stocks 301,692 63,547
Debtors 6 357,529 318,213
Cash at bank and in hand 275,457 317,470
934,678 699,230
CREDITORS
Amounts falling due within one year 7 497,158 486,138
NET CURRENT ASSETS 437,520 213,092
TOTAL ASSETS LESS CURRENT
LIABILITIES

437,520

226,812

CREDITORS
Amounts falling due after more than one
year

8

20,076

30,000
NET ASSETS 417,444 196,812

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 417,443 196,811
SHAREHOLDERS' FUNDS 417,444 196,812

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 2 February 2025 and were signed on its behalf by:





Mr P L Farquhar - Director


WILEY'S FINEST UK LIMITED (REGISTERED NUMBER: 09021594)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Wiley'S Finest UK 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.

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 2018, is being amortised evenly over its estimated useful life of five 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.
Fixtures and fittings - 33% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

WILEY'S FINEST UK LIMITED (REGISTERED NUMBER: 09021594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 66,600
AMORTISATION
At 1 January 2023 61,049
Charge for year 5,551
At 31 December 2023 66,600
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 5,551

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 103,224
DEPRECIATION
At 1 January 2023 95,055
Charge for year 8,169
At 31 December 2023 103,224
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 8,169

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 171,758 302,803
Deferred tax asset 65,050 -
Prepayments and accrued income 1,412 15,410
238,220 318,213

WILEY'S FINEST UK LIMITED (REGISTERED NUMBER: 09021594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Deferred tax asset 119,309 -

Aggregate amounts 357,529 318,213

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 416,309 394,646
Social security and other taxes 15,383 19,324
VAT 27,668 27,593
Other creditors 855 389
Accruals and deferred income 26,943 34,186
497,158 486,138

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 10,076 20,000
20,076 30,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
We were not appointed as auditors of the company until after 31 December 2023 and thus did not attend the company's end of year stocktake. As stock held by the company as at 31 December 2023 is of material value, and we have not been able to verify this value satisfactorily via other audit procedures, we have been unable to determine whether any adjustment to this amount was necessary.

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 Auditor’s 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 qualified opinion.

Paul Woodburn (Senior Statutory Auditor)
for and on behalf of Wallwork Nelson & Johnson

10. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Wiley Companies, a company registered in Ohio, United States.