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REGISTERED NUMBER: 02412032 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 November 2024

for

W.Wright Electrical Limited

W.Wright Electrical Limited (Registered number: 02412032)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.Wright Electrical Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: W Wright
Mrs S Wright
J Willmott





SECRETARY: Mrs S Wright





REGISTERED OFFICE: 87 Princess Street
Sheffield
S4 7UU





REGISTERED NUMBER: 02412032 (England and Wales)





ACCOUNTANTS: Camplejohn Rowan
CFC House
Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB

W.Wright Electrical Limited (Registered number: 02412032)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 666,377 344,946
Investment property 5 146,285 146,285
812,662 491,231

CURRENT ASSETS
Stocks 2,650 2,650
Debtors 6 2,455,341 3,259,444
Cash at bank and in hand 2,057,126 2,840,085
4,515,117 6,102,179
CREDITORS
Amounts falling due within one year 7 (827,634 ) (2,261,276 )
NET CURRENT ASSETS 3,687,483 3,840,903
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,500,145

4,332,134

PROVISIONS FOR LIABILITIES (59,049 ) (71,874 )
NET ASSETS 4,441,096 4,260,260

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,440,996 4,260,160
SHAREHOLDERS' FUNDS 4,441,096 4,260,260

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

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

W.Wright Electrical Limited (Registered number: 02412032)

Balance Sheet - continued
30 November 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 27 January 2025 and were signed on its behalf by:





W Wright - Director


W.Wright Electrical Limited (Registered number: 02412032)

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

1. STATUTORY INFORMATION

W.Wright Electrical 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 represents the provisions of goods and services after deducting trade discounts and VAT. It is recognised when the services are provided. For longer term contracts, interim applications are made throughout the course of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

W.Wright Electrical Limited (Registered number: 02412032)

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

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Assets held under finance leases, which are those leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are recorded in the balance sheet as fixed assets. Depreciation is provided on these assets over their estimated useful lives.

Future obligations under finance leases and hire purchase contracts are included in creditors, net of finance charges. Payments are apportioned between the finance element, which is charged to the profit and loss account as interest, and the capital element, which reduces the outstanding obligations.

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.

The company makes contributions to W Wright Electrical Limited Pension Scheme, a defined contribution scheme, the assets of which are held separately from the assets of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 72 (2023 - 70 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2023 - 75,849 18,816
Additions 350,000 2,054 1,149
Disposals - - -
At 30 November 2024 350,000 77,903 19,965
DEPRECIATION
At 1 December 2023 - 31,010 15,444
Charge for year 5,833 7,009 533
Eliminated on disposal - - -
At 30 November 2024 5,833 38,019 15,977
NET BOOK VALUE
At 30 November 2024 344,167 39,884 3,988
At 30 November 2023 - 44,839 3,372

W.Wright Electrical Limited (Registered number: 02412032)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2023 603,290 74,661 772,616
Additions 102,666 931 456,800
Disposals (75,662 ) - (75,662 )
At 30 November 2024 630,294 75,592 1,153,754
DEPRECIATION
At 1 December 2023 335,454 45,762 427,670
Charge for year 77,441 9,444 100,260
Eliminated on disposal (40,553 ) - (40,553 )
At 30 November 2024 372,342 55,206 487,377
NET BOOK VALUE
At 30 November 2024 257,952 20,386 666,377
At 30 November 2023 267,836 28,899 344,946

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 146,285
NET BOOK VALUE
At 30 November 2024 146,285
At 30 November 2023 146,285

The investment properties are shown at cost at the year end. The directors believe that their open market value would not be significantly different to their original cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 1,128,663 1,247,306
Amounts recoverable on contract 1,266,608 1,953,676
Other debtors - 1,000
Prepayments 60,070 57,462
2,455,341 3,259,444

W.Wright Electrical Limited (Registered number: 02412032)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 364,183 985,275
Tax 75,785 307,381
Social security and other taxes 86,212 113,617
VAT 219,200 169,120
Other creditors 1,644 1,644
Directors' current accounts - 560,000
Accrued expenses 80,610 124,239
827,634 2,261,276

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.24 30.11.23
£    £   
Within one year 5,529 6,030
Between one and five years 6,050 5,482
11,579 11,512

9. RELATED PARTY DISCLOSURES

Rent of £9,000 (2023: £30,000) was paid to W Wright Electrical Ltd Pension Scheme during the period for the rent of the company's offices.At the year end, £nil (2023: £nil) was owing to the Pension Scheme.