1
31/05/2024
2024-05-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
No description of principal activities is disclosed
2023-06-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
00725459
2023-06-01
2024-05-31
00725459
2024-05-31
00725459
2023-05-31
00725459
2022-06-01
2023-05-31
00725459
2023-05-31
00725459
core:FurnitureFittingsToolsEquipment
2023-06-01
2024-05-31
00725459
core:MotorVehicles
2023-06-01
2024-05-31
00725459
bus:RegisteredOffice
2023-06-01
2024-05-31
00725459
bus:LeadAgentIfApplicable
2023-06-01
2024-05-31
00725459
bus:Director1
2023-06-01
2024-05-31
00725459
bus:Director2
2023-06-01
2024-05-31
00725459
bus:CompanySecretary1
2023-06-01
2024-05-31
00725459
core:FurnitureFittingsToolsEquipment
2023-05-31
00725459
core:MotorVehicles
2023-05-31
00725459
core:FurnitureFittingsToolsEquipment
2024-05-31
00725459
core:MotorVehicles
2024-05-31
00725459
core:WithinOneYear
2024-05-31
00725459
core:WithinOneYear
2023-05-31
00725459
core:AfterOneYear
2024-05-31
00725459
core:AfterOneYear
2023-05-31
00725459
core:ShareCapital
2024-05-31
00725459
core:ShareCapital
2023-05-31
00725459
core:CapitalRedemptionReserve
2024-05-31
00725459
core:CapitalRedemptionReserve
2023-05-31
00725459
core:RetainedEarningsAccumulatedLosses
2024-05-31
00725459
core:RetainedEarningsAccumulatedLosses
2023-05-31
00725459
core:CostValuation
core:Non-currentFinancialInstruments
2023-05-31
00725459
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2024-05-31
00725459
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2024-05-31
00725459
core:CostValuation
core:Non-currentFinancialInstruments
2024-05-31
00725459
core:Non-currentFinancialInstruments
2024-05-31
00725459
core:Non-currentFinancialInstruments
2023-05-31
00725459
core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal
core:Non-currentFinancialInstruments
2024-05-31
00725459
core:FurnitureFittingsToolsEquipment
2023-05-31
00725459
core:MotorVehicles
2023-05-31
00725459
bus:SmallEntities
2023-06-01
2024-05-31
00725459
bus:AuditExemptWithAccountantsReport
2023-06-01
2024-05-31
00725459
bus:FullAccounts
2023-06-01
2024-05-31
00725459
bus:SmallCompaniesRegimeForAccounts
2023-06-01
2024-05-31
00725459
bus:PrivateLimitedCompanyLtd
2023-06-01
2024-05-31
00725459
core:WithinOneYear
2023-06-01
2024-05-31
Company registration number:
00725459
W & S (Long Eaton) Limited
Unaudited filleted financial statements
31 May 2024
W & S (Long Eaton) Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
W & S (Long Eaton) Limited
Directors and other information
|
|
|
|
Directors |
M. J. Stanton |
|
|
A. P. Stanton |
|
|
|
|
|
|
|
Secretary |
A. P. Stanton |
|
|
|
|
|
|
|
Company number |
00725459 |
|
|
|
|
|
|
|
Registered office |
Unit 1 Sheet Stores Industrial Estate |
|
|
Long Eaton |
|
|
Nottingham |
|
|
NG10 1AU |
|
|
|
|
|
|
|
Business address |
Unit 1 Sheet Stores Industrial Estate |
|
|
Long Eaton |
|
|
Nottingham |
|
|
NG10 1AU |
|
|
|
|
|
|
|
Accountants |
C J Lucking & Co |
|
|
34 Cross Street |
|
|
Long Eaton |
|
|
Nottingham |
|
|
NG10 1HD |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers |
Handelsbanken |
|
|
The Point |
|
|
Welbeck Road |
|
|
West Bridgford |
|
|
Nottingham |
|
|
NG2 17QW |
|
|
|
|
|
|
|
Solicitors |
Smith Partnership |
|
|
Celtic House |
|
|
Heritage Gate |
|
|
Derby |
|
|
DE1 1LS |
|
|
|
W & S (Long Eaton) Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of W & S (Long Eaton) Limited
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W & S (Long Eaton) Limited for the year ended 31 May 2024 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of W & S (Long Eaton) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of W & S (Long Eaton) Limited and state those matters that we have agreed to state to the board of directors of W & S (Long Eaton) Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W & S (Long Eaton) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that W & S (Long Eaton) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of W & S (Long Eaton) Limited. You consider that W & S (Long Eaton) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of W & S (Long Eaton) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
C J Lucking & Co
Chartered Accountants
34 Cross Street
Long Eaton
Nottingham
NG10 1HD
25 February 2025
W & S (Long Eaton) Limited
Balance sheet
31 May 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
6,836 |
|
|
|
7,936 |
|
|
Investments |
|
6 |
6,920,648 |
|
|
|
6,922,570 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
6,927,484 |
|
|
|
6,930,506 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
227,487 |
|
|
|
286,194 |
|
|
Debtors |
|
7 |
1,188,136 |
|
|
|
2,296,841 |
|
|
Cash at bank and in hand |
|
|
184,995 |
|
|
|
284,363 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,600,618 |
|
|
|
2,867,398 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
224,818) |
|
|
|
(
708,692) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
1,375,800 |
|
|
|
2,158,706 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
8,303,284 |
|
|
|
9,089,212 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
5,548,538) |
|
|
|
(
6,242,793) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
342,900) |
|
|
|
(
396,500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
2,411,846 |
|
|
|
2,449,919 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
45 |
|
|
|
45 |
Capital redemption reserve |
|
|
|
|
55 |
|
|
|
55 |
Profit and loss account |
|
|
|
|
2,411,746 |
|
|
|
2,449,819 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
2,411,846 |
|
|
|
2,449,919 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 May 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
25 February 2025
, and are signed on behalf of the board by:
M. J. Stanton
Director
Company registration number:
00725459
W & S (Long Eaton) Limited
Notes to the financial statements
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 1 Sheet Stores Industrial Estate, Long Eaton, Nottingham, NG10 1AU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in 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 investment properties measured at fair value through the profit and loss account.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at fair value of the consideration received or receivable for goods supplied and services rendered, net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred taxation recognised in the reporting period. Tax is recognised in the profit and loss account.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.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.Investment properties are shown at fair value and no depreciation is charged on this value.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in the profit and loss account and accumulated in capital and reserves.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment |
- |
12.5 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Investment properties are measured at fair value with changes in fair value being recognised in the profit and loss account.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the contribution becomes payable.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
2
).
5.
Tangible assets
|
|
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 June 2023 and 31 May 2024 |
85,464 |
22,930 |
108,394 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 June 2023 |
78,390 |
22,068 |
100,458 |
|
|
|
|
|
Charge for the year |
884 |
216 |
1,100 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 May 2024 |
79,274 |
22,284 |
101,558 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 May 2024 |
6,190 |
646 |
6,836 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 May 2023 |
7,074 |
862 |
7,936 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Investments
|
|
Other investments other than loans |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost or valuation |
|
|
|
|
|
|
|
At 1 June 2023 |
6,922,570 |
6,922,570 |
|
|
|
|
|
Disposals |
(
331,477) |
(
331,477) |
|
|
|
|
|
Revaluations |
329,555 |
329,555 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2024 |
6,920,648 |
6,920,648 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 June 2023 and 31 May 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 May 2024 |
6,920,648 |
6,920,648 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2023 |
6,922,570 |
6,922,570 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
The above investments are reversionary interests in houses on which 22 year leases have been granted. The investments have been revalued at the balance sheet date to reflect the reduction in the number of years before the properties revert back to the company. The revaluation has been carried out by the directors of the company and they consider that the unencumbered freehold value of the houses has not changed during the year. Deferred taxation has been provided for at 25% in respect of the revaluation of these reversionary interests. If the investments had been stated at cost their net book value would have been £3,815,147 (2023 - £3,972,398).
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
120,205 |
269,402 |
|
Other debtors |
|
1,067,931 |
2,027,439 |
|
|
|
_______ |
_______ |
|
|
|
1,188,136 |
2,296,841 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
- |
343,048 |
|
Trade creditors |
|
9,948 |
11,257 |
|
Social security and other taxes |
|
1,983 |
- |
|
Other creditors |
|
212,887 |
354,387 |
|
|
|
_______ |
_______ |
|
|
|
224,818 |
708,692 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loans and overdrafts are secured by a debenture over all of the assets of the company held by Handelsbanken Plc.
This security covers all amounts owed to Handelsbanken Plc by W & S (Long Eaton) Limited
and Integrated Investments Limited.
9.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
5,081,337 |
5,753,100 |
|
Other creditors |
|
467,201 |
489,693 |
|
|
|
_______ |
_______ |
|
|
|
5,548,538 |
6,242,793 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Directors advances, credits and guarantees
At 31st May 2024 the company owed £9,258 (2023 - £9,258) to the directors of the company.
11.
Related party transactions
At 31st May 2024 the company owed £476,459 (2023 - £476,459) to the directors and their associates. The directors of W & S (Long Eaton) Limited also control both Integrated Investments Limited and Burnside Developments Limited. Both of these companies are incorporated in England. At 31st May 2024 W & S (Long Eaton) Limited had loaned £1,075,079 (2023 - £1,998,384) to Integrated Investments Limited and borrowed £112,987 (2023 - £112,987) from Burnside Developments Limited.