Silverfin false false 30/06/2024 01/07/2023 30/06/2024 S Beales 23/02/2023 S Wickenden 15/05/2003 05 March 2025 no description of principal activity 04765947 2024-06-30 04765947 bus:Director1 2024-06-30 04765947 bus:Director2 2024-06-30 04765947 2023-06-30 04765947 core:CurrentFinancialInstruments 2024-06-30 04765947 core:CurrentFinancialInstruments 2023-06-30 04765947 core:ShareCapital 2024-06-30 04765947 core:ShareCapital 2023-06-30 04765947 core:RetainedEarningsAccumulatedLosses 2024-06-30 04765947 core:RetainedEarningsAccumulatedLosses 2023-06-30 04765947 core:Goodwill 2023-06-30 04765947 core:Goodwill 2024-06-30 04765947 core:FurnitureFittings 2023-06-30 04765947 core:ComputerEquipment 2023-06-30 04765947 core:FurnitureFittings 2024-06-30 04765947 core:ComputerEquipment 2024-06-30 04765947 2022-06-30 04765947 core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 04765947 core:AcceleratedTaxDepreciationDeferredTax 2023-06-30 04765947 core:OtherDeferredTax 2024-06-30 04765947 core:OtherDeferredTax 2023-06-30 04765947 2023-07-01 2024-06-30 04765947 bus:FilletedAccounts 2023-07-01 2024-06-30 04765947 bus:SmallEntities 2023-07-01 2024-06-30 04765947 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04765947 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04765947 bus:Director1 2023-07-01 2024-06-30 04765947 bus:Director2 2023-07-01 2024-06-30 04765947 core:Goodwill core:TopRangeValue 2023-07-01 2024-06-30 04765947 core:FurnitureFittings 2023-07-01 2024-06-30 04765947 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 04765947 2022-07-01 2023-06-30 04765947 core:ComputerEquipment 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 04765947 (England and Wales)

R P & S WICKENDEN LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

R P & S WICKENDEN LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

R P & S WICKENDEN LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
R P & S WICKENDEN LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 30,945 6,583
30,945 6,583
Current assets
Stocks 47,703 34,060
Debtors 5 29,689 13,820
Cash at bank and in hand 254,332 207,355
331,724 255,235
Creditors: amounts falling due within one year 6 ( 81,036) ( 77,233)
Net current assets 250,688 178,002
Total assets less current liabilities 281,633 184,585
Provision for liabilities 7 ( 7,709) 0
Net assets 273,924 184,585
Capital and reserves
Called-up share capital 200 200
Profit and loss account 273,724 184,385
Total shareholders' funds 273,924 184,585

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of R P & S Wickenden Limited (registered number: 04765947) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S Beales
Director

05 March 2025

R P & S WICKENDEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
R P & S WICKENDEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R P & S Wickenden Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bacton Stores, Shop Green, Bacton, Stowmarket, IP14 4LG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 20

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 125,000 125,000
At 30 June 2024 125,000 125,000
Accumulated amortisation
At 01 July 2023 125,000 125,000
At 30 June 2024 125,000 125,000
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

4. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 July 2023 24,265 2,495 26,760
Additions 28,749 167 28,916
At 30 June 2024 53,014 2,662 55,676
Accumulated depreciation
At 01 July 2023 17,983 2,194 20,177
Charge for the financial year 4,416 138 4,554
At 30 June 2024 22,399 2,332 24,731
Net book value
At 30 June 2024 30,615 330 30,945
At 30 June 2023 6,282 301 6,583

5. Debtors

2024 2023
£ £
Trade debtors 113 929
Amounts owed by directors 31,854 0
Prepayments 1,178 1,153
VAT recoverable ( 3,456) 0
Other debtors 0 11,738
29,689 13,820

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 30,426 31,887
Corporation tax 34,343 23,106
Other taxation and social security 703 2,919
Other creditors 15,564 19,321
81,036 77,233

7. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Charged to the Income Statement ( 7,709) 0
At the end of financial year ( 7,709) 0

The deferred taxation balance is made up as follows:

2024 2023
£ £
Accelerated capital allowances ( 7,736) 0
Other timing differences 27 0
( 7,709) 0

8. Related party transactions

At the year end , the directors owed the company £31,854 (2023: the company owed the directors £3,579). Interest has been charged on one of these loans.