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W.H. PATTERSON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2024






W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.H. PATTERSON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: G A Fuller
Miss C L Fuller
A R Fuller
Mrs E Wells
Miss M Meredith
Miss E Campin





SECRETARY: G A Fuller





REGISTERED OFFICE: Devonshire House
Manor Way
Borehamwood
Herts
WD6 1QQ





REGISTERED NUMBER: 05102646 (England and Wales)





ACCOUNTANTS: Goodier, Smith & Watts Limited
Devonshire House
Manor Way
Borehamwood
Herts
WD6 1QQ

W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,000
Tangible assets 5 1,353,565 58,400
1,353,565 63,400

CURRENT ASSETS
Stocks 1,880,096 2,586,911
Debtors 6 1,042,398 857,339
Cash at bank 42,859 333,042
2,965,353 3,777,292
CREDITORS
Amounts falling due within one year 7 2,061,857 1,210,583
NET CURRENT ASSETS 903,496 2,566,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,257,061

2,630,109

PROVISIONS FOR LIABILITIES 17,600 14,276
NET ASSETS 2,239,461 2,615,833

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,238,461 2,614,833
SHAREHOLDERS' FUNDS 2,239,461 2,615,833

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

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

The directors acknowledge their 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.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2025 and were signed on its behalf by:





G A Fuller - Director


W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

W.H. Patterson Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from services is recognised in the accounting period in which the services are rendered. For fixed price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided. Revenue from sales of paintings is recognised on the date the sale is agreed,

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 100,000
AMORTISATION
At 1 July 2023 95,000
Amortisation for year 5,000
At 30 June 2024 100,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 5,000

W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST
At 1 July 2023 - - 115,789
Additions 1,084,232 143,223 65,156
At 30 June 2024 1,084,232 143,223 180,945
DEPRECIATION
At 1 July 2023 - - 107,925
Charge for year - - 10,953
At 30 June 2024 - - 118,878
NET BOOK VALUE
At 30 June 2024 1,084,232 143,223 62,067
At 30 June 2023 - - 7,864

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 62,690 85,402 263,881
Additions 35,250 327 1,328,188
At 30 June 2024 97,940 85,729 1,592,069
DEPRECIATION
At 1 July 2023 15,673 81,883 205,481
Charge for year 20,566 1,504 33,023
At 30 June 2024 36,239 83,387 238,504
NET BOOK VALUE
At 30 June 2024 61,701 2,342 1,353,565
At 30 June 2023 47,017 3,519 58,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 498,039 253,649
Other debtors 544,359 603,690
1,042,398 857,339

W.H. PATTERSON LIMITED (REGISTERED NUMBER: 05102646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 901,822 647,169
Taxation and social security 7,286 74,247
Other creditors 1,152,749 489,167
2,061,857 1,210,583

8. SECURED DEBTS

Lloyds Bank Plc holds a fixed and floating charge over the company dated 8th December 2023. They also hold a charge over the property dated 6th December 2023 securing all monies due from the company..

Weatherbys Bank Limited holds a guarantee and indemnity and letter of set off dated 28th December 2008 over the company securing all monies due from Gladwell & Co to the bank.

Beauchamp Real Estate Holdings Limited hold a rent deposit deed over the company dated 18th December 2012, securing £39,300 due from the company.