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REGISTERED NUMBER: 02347731 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

WRIGHTFIELD LIMITED

WRIGHTFIELD LIMITED (REGISTERED NUMBER: 02347731)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WRIGHTFIELD LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: Mr P K Rose
Mr J T Wilby
Mr M S Rose





SECRETARY: Mr P K Rose





REGISTERED OFFICE: Mid Suffolk Business Park
Progress Way
Eye
Suffolk
IP23 7HU





REGISTERED NUMBER: 02347731 (England and Wales)





ACCOUNTANTS: Sexty & Co
Chartered Certified Accountants
124 Thorpe Road
Norwich
Norfolk
NR1 1RS

WRIGHTFIELD LIMITED (REGISTERED NUMBER: 02347731)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,997,664 1,994,595
1,997,664 1,994,595

CURRENT ASSETS
Stocks 526,319 802,569
Debtors 6 2,401,277 1,908,782
Cash at bank - 105,913
2,927,596 2,817,264
CREDITORS
Amounts falling due within one year 7 3,011,817 2,830,831
NET CURRENT LIABILITIES (84,221 ) (13,567 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,913,443

1,981,028

CREDITORS
Amounts falling due after more than one
year

8

(98,719

)

(170,217

)

PROVISIONS FOR LIABILITIES (27,000 ) (30,000 )
NET ASSETS 1,787,724 1,780,811

CAPITAL AND RESERVES
Called up share capital 22,000 22,000
Retained earnings 1,765,724 1,758,811
SHAREHOLDERS' FUNDS 1,787,724 1,780,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

WRIGHTFIELD LIMITED (REGISTERED NUMBER: 02347731)

BALANCE SHEET - continued
30 September 2024


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 31 March 2025 and were signed on its behalf by:





Mr P K Rose - Director


WRIGHTFIELD LIMITED (REGISTERED NUMBER: 02347731)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024

1. STATUTORY INFORMATION

Wrightfield 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 and long term contracts
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract at the balance sheet date. The company uses the 'percentage of completion method' to determine the appropriate amount to recognise in a given period. The assessment of the stage of completion is dependent on the nature of the contract, but will generally be based on the estimated proportion of the total contract costs which have been incurred to date. If a contract is expected to be loss-making, a provision is recognised for the entire loss.

The value of works on contracts substantially complete at the balance sheet date is recorded as turnover. The amount by which recorded turnover is in excess of work invoiced is shown as amounts recoverable on contracts and is disclosed separately within debtors.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, has been fully written off over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - Computer equipment, 25% on cost, 25% on reducing balance and 15% on reducing balance

The directors perform an annual impairment review of freehold property to ensure that the recoverable amount is not lower than the carrying value. They consider that the freehold property is maintained in such a state of repair that the residual value is at least equal to the net book value.

Stocks
Stocks and work in progress are stated at the lower of cost and net realisable value. Cost includes all direct expenditure and production overheads based on a normal level of activity. Net realisable value is the price at which stocks and work in progress could be realised in the normal course of business after allowing for costs of realisation.

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.


WRIGHTFIELD LIMITED (REGISTERED NUMBER: 02347731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 10,000
AMORTISATION
At 1 October 2023
and 30 September 2024 10,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

WRIGHTFIELD LIMITED (REGISTERED NUMBER: 02347731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 1,953,289 684,522 2,637,811
Additions - 102,199 102,199
At 30 September 2024 1,953,289 786,721 2,740,010
DEPRECIATION
At 1 October 2023 81,203 562,013 643,216
Charge for year 43,633 55,497 99,130
At 30 September 2024 124,836 617,510 742,346
NET BOOK VALUE
At 30 September 2024 1,828,453 169,211 1,997,664
At 30 September 2023 1,872,086 122,509 1,994,595

The freehold land and buildings were valued on an open market basis in December 2012 by Bidwells (an independent valuer). The valuation was in excess of the carrying value. The directors have performed an impairment review and still consider the recoverable amount to be in excess of the carrying value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,433,089 1,730,734
Amounts recoverable on contracts (219,239 ) 86,955
Other debtors 187,427 91,093
2,401,277 1,908,782

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 220,684 55,824
Trade creditors 1,454,088 1,198,865
Taxation and social security 218,459 195,180
Other creditors 1,118,586 1,380,962
3,011,817 2,830,831

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 98,719 170,217

WRIGHTFIELD LIMITED (REGISTERED NUMBER: 02347731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 164,860 -
Bank loans 154,543 226,041
319,403 226,041

The bank loan and overdraft is secured by legal charges over the freehold property. Hire purchase contracts are secured over the assets financed.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £51,155 (2023 £47,392).

11. OTHER FINANCIAL COMMITMENTS

The company had lease commitments of £116,760 at the balance sheet date (2023 £97,642).