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Registration number: 04619521

W Trout & Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

W Trout & Son Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

W Trout & Son Limited

Company Information

Directors

Mr M L Trout

Mr M D Trout

Mrs L M M Trout

Company secretary

Mrs H J Trout

Registered office

Ferry Road
Topsham
Exeter
Devon
EX3 OJJ

Bankers

Lloyds Bank Plc

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

W Trout & Son Limited

(Registration number: 04619521)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

144,250

108,255

Current assets

 

Stocks

5

139,572

168,108

Debtors

6

65,653

85,597

Cash at bank and in hand

 

231,324

179,944

 

436,549

433,649

Creditors: Amounts falling due within one year

7

(243,297)

(216,357)

Net current assets

 

193,252

217,292

Total assets less current liabilities

 

337,502

325,547

Provisions for liabilities

(17,948)

(17,440)

Net assets

 

319,554

308,107

Capital and reserves

 

Called up share capital

750

750

Profit and loss account

318,804

307,357

Total equity

 

319,554

308,107

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 March 2025 and signed on its behalf by:
 

 

W Trout & Son Limited

(Registration number: 04619521)
Balance Sheet as at 31 December 2024

.........................................
Mr M D Trout
Director

 

W Trout & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Ferry Road
Topsham
Exeter
Devon
EX3 OJJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's 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 income 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.

 

W Trout & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred income 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 balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Long leasehold

Straight line over the life of the lease

Plant and machinery

15 % reducing balance

Motor vehicles

15 % reducing balance

Office equipment

25 % straight line

Barge

5 % straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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 inventories 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.

 

W Trout & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 10).

 

W Trout & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Freehold land and buildings
£

Office equipment
£

Motor vehicles
 £

Barge
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

169,405

8,582

27,789

40,200

171,177

417,153

Additions

-

1,387

-

-

56,969

58,356

At 31 December 2024

169,405

9,969

27,789

40,200

228,146

475,509

Depreciation

At 1 January 2024

128,720

6,697

17,032

25,125

131,324

308,898

Charge for the year

3,069

975

1,613

2,010

14,694

22,361

At 31 December 2024

131,789

7,672

18,645

27,135

146,018

331,259

Carrying amount

At 31 December 2024

37,616

2,297

9,144

13,065

82,128

144,250

At 31 December 2023

40,685

1,885

10,757

15,075

39,853

108,255

 

W Trout & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Stocks

2024
£

2023
£

Other stocks

139,572

168,108

6

Debtors

2024
£

2023
£

Trade debtors

39,253

35,887

Other debtors

10,190

40,444

Prepayments and accrued income

16,210

9,266

Total current trade and other debtors

65,653

85,597

7

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Trade creditors

 

58,106

40,085

Taxation and social security

 

37,878

30,414

Other creditors

 

147,313

145,858

 

243,297

216,357

8

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mr M D Trout

Mr M D Trout

-

3,192

(3,192)

-

-

3,192

(3,192)

-

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr M D Trout

Mr M D Trout

-

6,716

(6,716)

-

-

6,716

(6,716)

-