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REGISTERED NUMBER: 03585350 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Wedgmoor Limited

Wedgmoor Limited (Registered number: 03585350)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Wedgmoor Limited (Registered number: 03585350)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22 365,842

CURRENT ASSETS
Debtors 5 432,399 256,026

CREDITORS
Amounts falling due within one year 6 384,118 481,793
NET CURRENT ASSETS/(LIABILITIES) 48,281 (225,767 )
TOTAL ASSETS LESS CURRENT LIABILITIES 48,303 140,075

CREDITORS
Amounts falling due after more than one year 7 (69,829 ) (138,052 )

PROVISIONS FOR LIABILITIES - (69,291 )
NET LIABILITIES (21,526 ) (67,268 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (21,528 ) (67,270 )
SHAREHOLDERS' FUNDS (21,526 ) (67,268 )

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 director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2025 and were signed by:





Mr M R Jones - Director


Wedgmoor Limited (Registered number: 03585350)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Wedgmoor Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03585350

Registered office: Unit A
Lancaster Fields
The Gateway
Crewe
CW16FF

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Going Concern
The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets.The director notes the balance sheet position and is satisfied that the shareholders are prepared to continue to support the development of the company for the next 12 months.

Turnover
Turnover represents net invoiced sales of good and services, excluding VAT.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Wedgmoor Limited (Registered number: 03585350)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 644,736 4,438 248,977 4,903 903,054
Disposals (644,736 ) - (248,977 ) - (893,713 )
At 30 June 2024 - 4,438 - 4,903 9,341
DEPRECIATION
At 1 July 2023 340,027 4,411 187,925 4,849 537,212
Charge for year 83,628 5 15,263 54 98,950
Eliminated on disposal (423,655 ) - (203,188 ) - (626,843 )
At 30 June 2024 - 4,416 - 4,903 9,319
NET BOOK VALUE
At 30 June 2024 - 22 - - 22
At 30 June 2023 304,709 27 61,052 54 365,842

Wedgmoor Limited (Registered number: 03585350)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 262,347 235,477 497,824
Disposals (262,347 ) (235,477 ) (497,824 )
At 30 June 2024 - - -
DEPRECIATION
At 1 July 2023 107,037 176,142 283,179
Charge for year 22,556 14,834 37,390
Eliminated on disposal (129,593 ) (190,976 ) (320,569 )
At 30 June 2024 - - -
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 155,310 59,335 214,645

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,810 4,512
Other debtors 386,589 251,514
432,399 256,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 37,517 66,290
Hire purchase contracts 105,101 175,875
Trade creditors 83,017 75,934
Taxation and social security 91,642 81,108
Other creditors 66,841 82,586
384,118 481,793

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 41,071 54,082
Hire purchase contracts 28,758 83,970
69,829 138,052

Wedgmoor Limited (Registered number: 03585350)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 133,859 259,845

The hire purchase contracts are secured by fixed charges on the assets they relate to.