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REGISTERED NUMBER: 03381153 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 May 2024

for

Worcestershire Medal
Service Limited

Worcestershire Medal
Service Limited (Registered number: 03381153)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Worcestershire Medal
Service Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P McDermott
Mrs D J Nalbant





SECRETARY: Mrs K D Cook





REGISTERED OFFICE: 56 Broad Street
Sidemoor
Bromsgrove
Worcestershire
B61 8LL





REGISTERED NUMBER: 03381153 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Worcestershire Medal
Service Limited (Registered number: 03381153)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,125,049 709,535
1,125,049 709,535

CURRENT ASSETS
Stocks 893,906 583,393
Debtors 6 1,662,388 487,065
Cash at bank and in hand 2,743,675 1,292,975
5,299,969 2,363,433
CREDITORS
Amounts falling due within one year 7 3,312,764 560,066
NET CURRENT ASSETS 1,987,205 1,803,367
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,112,254

2,512,902

CREDITORS
Amounts falling due after more than one year 8 (10,757 ) (20,748 )

PROVISIONS FOR LIABILITIES (94,510 ) (65,214 )
NET ASSETS 3,006,987 2,426,940

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 3,002,987 2,422,940
SHAREHOLDERS' FUNDS 3,006,987 2,426,940

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

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

Worcestershire Medal
Service Limited (Registered number: 03381153)

Balance Sheet - continued
31 May 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 20 January 2025 and were signed on its behalf by:





Mrs D J Nalbant - Director


Worcestershire Medal
Service Limited (Registered number: 03381153)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Worcestershire Medal Service 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 2001, 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.

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 - 1% on cost
Short leasehold - 10% on cost
Plant and machinery - 20%- 25% 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.

Worcestershire Medal
Service Limited (Registered number: 03381153)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 60,000
AMORTISATION
At 1 June 2023
and 31 May 2024 60,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 June 2023 370,000 17,067 879,733
Additions 388,296 - 95,462
Disposals - - (1,984 )
At 31 May 2024 758,296 17,067 973,211
DEPRECIATION
At 1 June 2023 3,700 17,067 570,639
Charge for year 7,583 - 99,837
Eliminated on disposal - - (1,984 )
At 31 May 2024 11,283 17,067 668,492
NET BOOK VALUE
At 31 May 2024 747,013 - 304,719
At 31 May 2023 366,300 - 309,094

Worcestershire Medal
Service Limited (Registered number: 03381153)

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

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 189,923 - 1,456,723
Additions 30,695 25,000 539,453
Disposals - - (1,984 )
At 31 May 2024 220,618 25,000 1,994,192
DEPRECIATION
At 1 June 2023 155,782 - 747,188
Charge for year 14,436 2,083 123,939
Eliminated on disposal - - (1,984 )
At 31 May 2024 170,218 2,083 869,143
NET BOOK VALUE
At 31 May 2024 50,400 22,917 1,125,049
At 31 May 2023 34,141 - 709,535

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 697,333 102,035
Other debtors 965,055 385,030
1,662,388 487,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 19,622
Trade creditors 2,919,697 280,898
Taxation and social security 336,160 155,825
Other creditors 46,907 93,721
3,312,764 560,066

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,757 20,748

Worcestershire Medal
Service Limited (Registered number: 03381153)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
P McDermott
Balance outstanding at start of year - -
Amounts advanced 7,246 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,246 -

This advance was cleared after the year end.