Company registration number 03082979 (England and Wales)
WILKINSON GRANT & CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
WILKINSON GRANT & CO LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WILKINSON GRANT & CO LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
116,994
141,356
Current assets
Debtors
4
419,559
281,154
Cash at bank and in hand
860,815
792,319
1,280,374
1,073,473
Creditors: amounts falling due within one year
5
(418,937)
(216,054)
Net current assets
861,437
857,419
Total assets less current liabilities
978,431
998,775
Creditors: amounts falling due after more than one year
6
(33,471)
(37,351)
Provisions for liabilities
(29,250)
(35,340)
Net assets
915,710
926,084
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
915,610
925,984
Total equity
915,710
926,084
WILKINSON GRANT & CO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 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.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 17 February 2025 and are signed on its behalf by:
Mr R Wilkinson
Director
Company registration number 03082979 (England and Wales)
WILKINSON GRANT & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Wilkinson Grant & Co Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old City Library, 1 Castle Street, Exeter, Devon, EX4 3PT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
over 10 years
Plant and equipment
15% on the written down value
Fixtures and fittings
15% on the written down value
Computers
25% on the written down value
Motor vehicles
over 5 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Equity instruments
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
WILKINSON GRANT & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
43
41
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023
46,399
328,666
375,065
Additions
14,746
14,746
At 31 August 2024
46,399
343,412
389,811
Depreciation and impairment
At 1 September 2023
38,700
195,009
233,709
Depreciation charged in the year
4,630
34,478
39,108
At 31 August 2024
43,330
229,487
272,817
Carrying amount
At 31 August 2024
3,069
113,925
116,994
At 31 August 2023
7,699
133,657
141,356
WILKINSON GRANT & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
343,235
229,307
Other debtors
76,324
51,847
419,559
281,154
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
72,438
46,858
Taxation and social security
225,360
133,228
Other creditors
121,139
35,968
418,937
216,054
Included in other creditors is £3,880 (2023: £3,880) which are net obligations under finance lease and secured by fixed charges on the assets concerned.
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
33,471
37,351
Other creditors are net obligations under finance lease which are secured by fixed charges on the assets concerned.
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Within one year
90,750
99,000
Between two and five years
90,750
90,750
189,750
WILKINSON GRANT & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
8
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
2 directors
-
460
107,741
(108,210)
(9)
460
107,741
(108,210)
(9)
The aforementioned advances are unsecured and repayable on demand.