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REGISTERED NUMBER: 04655891 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024

FOR

WINGETTS LIMITED

WINGETTS LIMITED (REGISTERED NUMBER: 04655891)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WINGETTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: L R Hayward
E L Hayward



REGISTERED OFFICE: 25 Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 04655891 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Barclays Bank plc
51-52 Hope Street
Wrexham
LL11 1BB

WINGETTS LIMITED (REGISTERED NUMBER: 04655891)

BALANCE SHEET
31ST JULY 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,847 8,508
13,847 8,508

CURRENT ASSETS
Debtors 6 56,720 43,284
Cash at bank and in hand 313,897 218,425
370,617 261,709
CREDITORS
Amounts falling due within one year 7 161,352 112,451
NET CURRENT ASSETS 209,265 149,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

223,112

157,766

PROVISIONS FOR LIABILITIES 8 3,462 2,127
NET ASSETS 219,650 155,639

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 219,530 155,519
SHAREHOLDERS' FUNDS 219,650 155,639

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

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

WINGETTS LIMITED (REGISTERED NUMBER: 04655891)

BALANCE SHEET - continued
31ST JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th March 2025 and were signed on its behalf by:





L R Hayward - Director


WINGETTS LIMITED (REGISTERED NUMBER: 04655891)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Wingetts 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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.
Fixtures and fittings - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

WINGETTS LIMITED (REGISTERED NUMBER: 04655891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 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 23 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2023
and 31st July 2024 450,000
AMORTISATION
At 1st August 2023
and 31st July 2024 450,000
NET BOOK VALUE
At 31st July 2024 -
At 31st July 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st August 2023 32,108
Additions 9,650
At 31st July 2024 41,758
DEPRECIATION
At 1st August 2023 23,600
Charge for year 4,311
At 31st July 2024 27,911
NET BOOK VALUE
At 31st July 2024 13,847
At 31st July 2023 8,508

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade and auction debtors 56,720 43,187
Other debtors and prepayments - 97
56,720 43,284

WINGETTS LIMITED (REGISTERED NUMBER: 04655891)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade and auction creditors 21,485 28,513
Amounts owed to group undertakings 1,748 9,035
Tax 73,336 36,264
Social security and other taxes 6,956 6,978
VAT 53,760 27,892
Other creditors - 2,069
Accrued expenses 4,067 1,700
161,352 112,451

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax
Accelerated capital allowances 3,462 2,127

Deferred
tax
£   
Balance at 1st August 2023 2,127
Movement in the year due to:
Changes in tax rates
Changes in tax allowances 1,335
Changes in tax losses
Balance at 31st July 2024 3,462

9. ULTIMATE CONTROLLING PARTY

The controlling party is Wingetts Holdings Limited.