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Registration number: 00789001

A Wardle & Company (Casters) Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

A Wardle & Company (Casters) Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Profit and Loss Account

3

Abridged Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Unaudited Abridged Financial Statements

7 to 11

 

A Wardle & Company (Casters) Ltd

Company Information

Directors

Mrs Mary Wardle

Mr Alexander Wardle

Mr Nicholas Wardle

Ms Natalia Valdivieso

Registered office

52 Hylton Street
Birmingham
B18 6HN

Accountants

TKO Accountants Ltd
26 York Street
Harborne
Birmingham
B17 0HG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A Wardle & Company (Casters) Ltd
for the 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 accounts of A Wardle & Company (Casters) Ltd for the year ended 31 May 2024 as set out on pages 3 to 11 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/regulation.

This report is made solely to the Board of Directors of A Wardle & Company (Casters) Ltd, as a body, in accordance with the terms of our engagement letter dated 3 July 2006. Our work has been undertaken solely to prepare for your approval the accounts of A Wardle & Company (Casters) Ltd and state those matters that we have agreed to state to the Board of Directors of A Wardle & Company (Casters) Ltd, 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 A Wardle & Company (Casters) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A Wardle & Company (Casters) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A Wardle & Company (Casters) Ltd. You consider that A Wardle & Company (Casters) Ltd 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 accounts of A Wardle & Company (Casters) Ltd. 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 accounts.

......................................

TKO Accountants Ltd
26 York Street
Harborne
Birmingham
B17 0HG

26 February 2025

 

A Wardle & Company (Casters) Ltd

Abridged Profit and Loss Account for the Year Ended 31 May 2024

Note

2024
£

2023
£

Gross profit

 

516,280

437,793

Administrative expenses

 

(268,030)

(308,656)

Other interest receivable and similar income

 

308

1

Interest payable and similar expenses

 

(7,936)

(8,527)

Profit before tax

4

240,622

120,611

Tax on profit

 

(5,568)

(4,220)

Profit for the financial year

 

235,054

116,391

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

A Wardle & Company (Casters) Ltd

(Registration number: 00789001)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

619,974

567,950

Current assets

 

Stocks

6

16,836

9,927

Debtors

7

70,647

118,654

Cash at bank and in hand

 

124,611

74,179

 

212,094

202,760

Creditors: Amounts falling due within one year

(189,227)

(213,479)

Net current assets/(liabilities)

 

22,867

(10,719)

Total assets less current liabilities

 

642,841

557,231

Creditors: Amounts falling due after more than one year

(177,339)

(204,283)

Net assets

 

465,502

352,948

Capital and reserves

 

Called up share capital

8

2,000

2,000

Retained earnings

463,502

350,948

Shareholders' funds

 

465,502

352,948

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

A Wardle & Company (Casters) Ltd

(Registration number: 00789001)
Abridged Balance Sheet as at 31 May 2024

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

.........................................
Mr Alexander Wardle
Director

 

A Wardle & Company (Casters) Ltd

Statement of Changes in Equity for the Year Ended 31 May 2024

Share capital
£

Retained earnings
£

Total
£

At 1 June 2023

2,000

350,948

352,948

Profit for the year

-

235,054

235,054

Dividends

-

(122,500)

(122,500)

At 31 May 2024

2,000

463,502

465,502

Share capital
£

Retained earnings
£

Total
£

At 1 June 2022

2,000

363,057

365,057

Profit for the year

-

116,391

116,391

Dividends

-

(128,500)

(128,500)

At 31 May 2023

2,000

350,948

352,948

 

A Wardle & Company (Casters) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
52 Hylton Street
Birmingham
B18 6HN

These financial statements were authorised for issue by the Board on 26 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

A Wardle & Company (Casters) Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance method

Office equipment

20% reducing balance method

Commercial vehicles

20% straight line basis

Freehold property

no depreciation charged

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

A Wardle & Company (Casters) Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 9).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

40,854

25,300

 

A Wardle & Company (Casters) Ltd

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 June 2023

466,810

18,328

42,499

181,355

Additions

-

-

61,622

31,256

At 31 May 2024

466,810

18,328

104,121

212,611

Depreciation

At 1 June 2023

-

18,140

8,500

114,402

Charge for the year

-

188

20,824

19,842

At 31 May 2024

-

18,328

29,324

134,244

Carrying amount

At 31 May 2024

466,810

-

74,797

78,367

At 31 May 2023

466,810

188

33,999

66,953

Total
£

Cost or valuation

At 1 June 2023

708,992

Additions

92,878

At 31 May 2024

801,870

Depreciation

At 1 June 2023

141,042

Charge for the year

40,854

At 31 May 2024

181,896

Carrying amount

At 31 May 2024

619,974

At 31 May 2023

567,950

Included within the net book value of land and buildings above is £466,810 (2023 - £466,810) in respect of freehold land and buildings.
 

 

A Wardle & Company (Casters) Ltd

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

6

Stocks

2024
£

2023
£

Other inventories

16,836

9,927

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

800

800

800

800

Ordinary B shares of £1 each

500

500

500

500

Ordinary C shares of £1 each

600

600

600

600

Ordinary D shares of £1 each

100

100

100

100

2,000

2,000

2,000

2,000

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £12.50 (2023 - £23.75) per each Ordinary A shares

10,000

19,000

Interim dividend of £75.00 (2023 - £73.00) per each Ordinary B shares

37,500

36,500

Interim dividend of £62.50 (2023 - £60.83) per each Ordinary C shares

37,500

36,500

Interim dividend of £375.00 (2023 - £365.00) per each Ordinary D shares

37,500

36,500

122,500

128,500