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Registration number: 06707286

Wilson Bailey Partnership Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Wilson Bailey Partnership Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Wilson Bailey Partnership Limited

(Registration number: 06707286)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

81,857

109,391

Current assets

 

Stocks

36,604

30,939

Debtors

247,304

594,517

Cash at bank and in hand

 

407,979

93,784

 

691,887

719,240

Creditors: Amounts falling due within one year

(13,497)

(8,459)

Net current assets

 

678,390

710,781

Total assets less current liabilities

 

760,247

820,172

Provisions for liabilities

(17,845)

(10,858)

Net assets

 

742,402

809,314

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

742,302

809,214

Total equity

 

742,402

809,314

 

Wilson Bailey Partnership Limited

(Registration number: 06707286)
Abridged Balance Sheet as at 30 September 2024

For the financial year ending 30 September 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 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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

Approved and authorised by the Board on 4 March 2025 and signed on its behalf by:
 

Mr D P Brightman

Director

Mrs C Brightman

Company secretary and director

 

Wilson Bailey Partnership Limited

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

1

General information

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

The address of its registered office is:
Calyx House
South Road
Taunton
Somerset
TA1 3DU
Somerset

These financial statements were authorised for issue by the Board on 4 March 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred 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 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Wilson Bailey Partnership Limited

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

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 and machinery

20% straight line

Motor vehicles

25% reducing balance

Computer equipment

33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 stocks 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Total
£

Cost or valuation

At 1 October 2023

252,601

At 30 September 2024

252,601

Depreciation

At 1 October 2023

139,955

Charge for the year

30,789

At 30 September 2024

170,744

Carrying amount

At 30 September 2024

81,857

At 30 September 2023

109,391

 

Wilson Bailey Partnership Limited

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

5

Related party transactions

Advances to directors


Mr D P Brightman

During the period Mr D P Brightman went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £23,646 (2023 - £Nil). At the year end the amount outstanding from Mr D P Brightman was £2,051 (2023 - £Nil). Interest has been charged at the commercial rate.


Mrs C Brightman

During the period Mrs C Brightman went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £23,646 (2023 - £Nil). At the year end the amount outstanding from Mrs C Brightman was £2,051 (2023 - £Nil). Interest has been charged at the commercial rate.

Summary of transactions with other related parties

Included within debtors is a Nil balance (2023 - £360,000) owing from HWRB Ltd, a company under the control of the directors of Wilson Bailey Partnership Ltd.
 

6

Off-balance sheet arrangements

Financial commitments, guarantees and contingencies
The total amount of financial commitments not included in the balance sheet is £11,250 (2022 - £15,000).