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REGISTERED NUMBER: 04520667 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

W J Seppings Limited

W J Seppings Limited (Registered number: 04520667)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


W J Seppings Limited (Registered number: 04520667)

Balance Sheet
30 September 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 152,243 158,700
152,243 158,700

Current assets
Inventory 18,034 22,052
Debtors 7 11,267 13,108
Cash at bank and in hand 46,703 85,916
76,004 121,076
Creditors
Amounts falling due within one year 8 (192,432 ) (225,830 )
Net current liabilities (116,428 ) (104,754 )
Total assets less current liabilities 35,815 53,946

Provisions for liabilities (19,390 ) (21,005 )
Net assets 16,425 32,941

Capital and reserves
Called up share capital 2 2
Retained earnings 16,423 32,939
16,425 32,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

W J Seppings Limited (Registered number: 04520667)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 February 2025 and were signed by:





Mr A Wells - Director


W J Seppings Limited (Registered number: 04520667)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. Statutory information

W J Seppings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04520667

Registered office: East Coast House
Galahad Road
Gorleston
Great Yarmouth
Norfolk
NR31 7RU

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 £30,800, is being amortised evenly over its estimated useful life of 20 years.

W J Seppings Limited (Registered number: 04520667)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


3. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Improvements to property are not depreciated.

Inventories
Inventories are valued at the lower of cost and net relisable value after making due allowance for obsolete and slow moving items.

W J Seppings Limited (Registered number: 04520667)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


W J Seppings Limited (Registered number: 04520667)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


3. Accounting policies - continued
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.

4. Employees and directors

The average number of employees during the year was 18 (2023 - 16 ) .

5. Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023
and 30 September 2024 30,800
Amortisation
At 1 October 2023
and 30 September 2024 30,800
Net book value
At 30 September 2024 -
At 30 September 2023 -

W J Seppings Limited (Registered number: 04520667)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. Tangible fixed assets
Improvements Plant and Motor
to property machinery vehicles Totals
£ £ £ £
Cost
At 1 October 2023 74,682 313,763 28,250 416,695
Additions - 12,022 - 12,022
Disposals - - (12,000 ) (12,000 )
At 30 September 2024 74,682 325,785 16,250 416,717
Depreciation
At 1 October 2023 - 249,176 8,819 257,995
Charge for year - 10,220 3,724 13,944
Eliminated on disposal - - (7,465 ) (7,465 )
At 30 September 2024 - 259,396 5,078 264,474
Net book value
At 30 September 2024 74,682 66,389 11,172 152,243
At 30 September 2023 74,682 64,587 19,431 158,700

7. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 6,988 7,700
Other debtors 4,279 5,408
11,267 13,108

8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,841 16,834
Amounts owed to group undertakings 38,788 47,300
Taxation and social security 33,125 43,358
Other creditors 118,678 118,338
192,432 225,830

9. Ultimate controlling party

The company is owned by W J Seppings Holdings Limited, a company which is registered in England and Wales.