REGISTERED NUMBER: 05502698 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

WYATT HUGHES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Crane

G Crane

REGISTERED OFFICE:

30-34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

05502698 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

26,841

179,023

26,841

179,023

CURRENT ASSETS

Debtors

6

81,706

9,783

Cash at bank and in hand

149,561

127,454

231,267

137,237

CREDITORS

Amounts falling due within one year

7

(77,776

)

(68,396

)

NET CURRENT ASSETS

153,491

68,841

TOTAL ASSETS LESS CURRENT LIABILITIES

180,332

247,864

CREDITORS

Amounts falling due after more than one year

8

(23,882

)

(37,931

)

PROVISIONS FOR LIABILITIES

(5,046

)

(7,649

)

NET ASSETS

151,404

202,284

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

151,304

202,184

SHAREHOLDERS' FUNDS

151,404

202,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:

J Crane - Director

1.	STATUTORY INFORMATION

Wyatt Hughes 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.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance and over term of lease

Computer equipment

-

33% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2023

and 31 August 2024

150,000

AMORTISATION

At 1 September 2023

and 31 August 2024

150,000

NET BOOK VALUE

At 31 August 2024

-

At 31 August 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 September 2023

141,344

3,708

25,573

Additions

-

-

188

Disposals

(141,344

)

-

-

At 31 August 2024

-

3,708

25,761

DEPRECIATION

At 1 September 2023

-

3,120

14,903

Charge for year

-

118

1,081

At 31 August 2024

-

3,238

15,984

NET BOOK VALUE

At 31 August 2024

-

470

9,777

At 31 August 2023

141,344

588

10,670

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2023

33,459

24,415

228,499

Additions

-

1,966

2,154

Disposals

-

-

(141,344

)

At 31 August 2024

33,459

26,381

89,309

DEPRECIATION

At 1 September 2023

7,361

24,092

49,476

Charge for year

11,041

752

12,992

At 31 August 2024

18,402

24,844

62,468

NET BOOK VALUE

At 31 August 2024

15,057

1,537

26,841

At 31 August 2023

26,098

323

179,023

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 September 2023

and 31 August 2024

33,459

DEPRECIATION

At 1 September 2023

7,361

Charge for year

11,041

At 31 August 2024

18,402

NET BOOK VALUE

At 31 August 2024

15,057

At 31 August 2023

26,098

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

5,733

7,797

Other debtors

75,973

1,986

81,706

9,783

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,312

10,058

Hire purchase contracts

3,737

4,851

Trade creditors

9,223

6,553

Taxation and social security

49,710

42,152

Other creditors

4,794

4,782

77,776

68,396

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

7,904

18,216

Hire purchase contracts

15,978

19,715

23,882

37,931

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

35

Ordinary A shares

£1

35

35

19

Ordinary B shares

£1

19

19

40

Ordinary C shares

£1

40

40

6

Ordinary D shares

£1

6

6

100

100