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Registration number: 10552447

W E Bates Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

W E Bates Holdings Limited

(Registration number: 10552447)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

742,353

705,765

Investments

5

1,100

1,100

 

743,453

706,865

Current assets

 

Debtors

6

-

22,010

Cash at bank and in hand

 

207,176

318,601

 

207,176

340,611

Creditors: Amounts falling due within one year

7

(257,463)

(317,686)

Net current (liabilities)/assets

 

(50,287)

22,925

Total assets less current liabilities

 

693,166

729,790

Creditors: Amounts falling due after more than one year

7

(48,938)

(85,919)

Provisions for liabilities

(129,000)

(117,000)

Net assets

 

515,228

526,871

Capital and reserves

 

Called up share capital

8

2,200

2,200

Retained earnings

513,028

524,671

Shareholders' funds

 

515,228

526,871

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.

 

W E Bates Holdings Limited

(Registration number: 10552447)
Balance Sheet as at 31 December 2024

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 31 March 2025 and signed on its behalf by:
 

.........................................
W Romney
Director

 

W E Bates Holdings 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:
Bath Meadow
Gaydon Road
Bishops Itchington
Southam
Warwickshire
CV47 2QZ

These financial statements were authorised for issue by the Board on 31 March 2025.

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 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 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 E Bates Holdings Limited

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

Deferred 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

Plant and machinery

10% pa on a straight line basis.

Office equipment

50% pa on a straight line basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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 at the transaction price.

 

W E Bates Holdings 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 at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

W E Bates Holdings Limited

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

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

1,057,332

2,270

1,059,602

Additions

149,391

-

149,391

At 31 December 2024

1,206,723

2,270

1,208,993

Depreciation

At 1 January 2024

351,567

2,270

353,837

Charge for the year

112,803

-

112,803

At 31 December 2024

464,370

2,270

466,640

Carrying amount

At 31 December 2024

742,353

-

742,353

At 31 December 2023

705,765

-

705,765

5

Investments

2024
£

2023
£

Investments in subsidiaries

1,100

1,100

Subsidiaries

£

Cost or valuation

At 1 January 2024

1,100

Provision

Carrying amount

At 31 December 2024

1,100

At 31 December 2023

1,100

 

W E Bates Holdings Limited

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

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

W E Bates Limited

Bath Meadow
Gaydon Road
Bishops Itchington
Southam
Warwickshire
CV47 2QZ

Ordinary £1 and Ordinary B £1 shares

100%

100%

Subsidiary undertakings

W E Bates Limited

The principal activity of W E Bates Limited is that of the manufacture of tubes, pipes and hollow profiles.

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

-

22,010

 

-

22,010

 

W E Bates Holdings Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

36,981

35,155

Trade creditors

 

27,000

1,410

Amounts owed to group undertakings and undertakings in which the company has a participating interest

25,273

-

Taxation and social security

 

4,708

21,083

Accruals and deferred income

 

1,000

1,000

Other creditors

 

162,501

259,038

 

257,463

317,686

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

48,938

85,919

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 of £1 each

2,000

2,000

2,000

2,000

Ordinary B £1 of £1 each

200

200

200

200

2,200

2,200

2,200

2,200

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

48,938

85,919

Current loans and borrowings

2024
£

2023
£

Bank borrowings

36,981

35,155