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REGISTERED NUMBER: 04964598 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

THE WILTON CARPET FACTORY LIMITED

THE WILTON CARPET FACTORY LIMITED (REGISTERED NUMBER: 04964598)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE WILTON CARPET FACTORY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: C S Brammall
S M King
D A Roscoe
T J Cater
P A Hartley





REGISTERED OFFICE: King Street
Wilton
Salisbury
Wiltshire
SP2 0AY





REGISTERED NUMBER: 04964598 (England and Wales)





AUDITORS: Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

THE WILTON CARPET FACTORY LIMITED (REGISTERED NUMBER: 04964598)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,131,877 2,003,856

CURRENT ASSETS
Stocks 5 1,446,848 1,658,365
Debtors 6 1,073,764 989,998
Cash at bank and in hand 337,811 614,348
2,858,423 3,262,711
CREDITORS
Amounts falling due within one year 7 1,800,857 2,145,108
NET CURRENT ASSETS 1,057,566 1,117,603
TOTAL ASSETS LESS CURRENT LIABILITIES 3,189,443 3,121,459

CREDITORS
Amounts falling due after more than one
year

8

(652,493

)

(796,703

)

PROVISIONS FOR LIABILITIES 10 (339,941 ) (179,119 )
NET ASSETS 2,197,009 2,145,637

CAPITAL AND RESERVES
Called up share capital 11 650,001 650,001
Retained earnings 1,547,008 1,495,636
SHAREHOLDERS' FUNDS 2,197,009 2,145,637

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 7 April 2025 and were signed on its behalf by:





C S Brammall - Director


THE WILTON CARPET FACTORY LIMITED (REGISTERED NUMBER: 04964598)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

The Wilton Carpet Factory 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, rebate and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost less residual value and 10 to 33.3% on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 20% 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

THE WILTON CARPET FACTORY LIMITED (REGISTERED NUMBER: 04964598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

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 87 (2023 - 93 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 3,446,197 296,103 144,178 3,886,478
Additions 26,794 82,196 - 108,990
At 31 August 2024 3,472,991 378,299 144,178 3,995,468
DEPRECIATION
At 1 September 2023 1,623,714 163,905 95,003 1,882,622
Charge for year (84,484 ) 48,167 17,286 (19,031 )
At 31 August 2024 1,539,230 212,072 112,289 1,863,591
NET BOOK VALUE
At 31 August 2024 1,933,761 166,227 31,889 2,131,877
At 31 August 2023 1,822,483 132,198 49,175 2,003,856

During the year ended 31 August 2024, the directors became aware of the considerable residual value of the company's looms. As a result of this new information the accounting estimate for depreciating these assets was reassessed and the depreciation policy amended leading to a significant adjustment in the net book value of the assets.

5. STOCKS
2024 2023
£    £   
Stocks 1,446,848 1,658,365

THE WILTON CARPET FACTORY LIMITED (REGISTERED NUMBER: 04964598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 645,112 632,458
Amounts owed by group undertakings 18,721 -
Other debtors 237,839 178,830
Prepayments 172,092 178,710
1,073,764 989,998

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 144,210 148,686
Payments on account 342,913 398,509
Trade creditors 840,986 880,140
Amounts owed to group undertakings - 457
Social security and other taxes 225,791 333,511
Other creditors 100,000 200,050
Accrued expenses 146,957 183,755
1,800,857 2,145,108

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 652,493 796,703

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 144,210 148,686
Between one and five years 652,493 796,703
796,703 945,389

THE WILTON CARPET FACTORY LIMITED (REGISTERED NUMBER: 04964598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 63,313 106,629
Between one and five years 98,558 69,646
In more than five years 60,000 -
221,871 176,275

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 339,941 179,119

Deferred
tax
£   
Balance at 1 September 2023 179,119
Provided during year 160,822
Balance at 31 August 2024 339,941

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
650,001 Ordinary £1 650,001 650,001

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Jones FCCA (Senior Statutory Auditor)
for and on behalf of Fawcetts LLP

13. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 47,624

THE WILTON CARPET FACTORY LIMITED (REGISTERED NUMBER: 04964598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At 31 August 2024 £100,000 (2023 £200,000) was owed to C S Brammall, a director of the company. The loan is interest free and repayable on demand.

15. ULTIMATE CONTROLLING PARTY

The immediate parent company is Avon Valley Holdings Limited, incorporated in England and Wales.

The ultimate parent company, which draws up consolidated financial statements, is Wylye Valley Holdings Limited, incorporated in England and Wales. The registered office is King Street, Wilton, Salisbury, SP2 0AY.