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REGISTERED NUMBER: 08843824 (England and Wales)









Unaudited Financial Statements

for the Year Ended

31 December 2024

for

Wigwood Limited
T/A
The Barista

Wigwood Limited (Registered number: 08843824)
T/A The Barista






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Wigwood Limited (Registered number: 08843824)
T/A The Barista

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 19,424 26,083
Tangible assets 5 124,992 111,993
144,416 138,076

CURRENT ASSETS
Stocks 38,642 31,474
Debtors 6 130,099 184,440
Cash at bank and in hand 35,714 208,735
204,455 424,649
CREDITORS
Amounts falling due within one year 7 188,301 298,690
NET CURRENT ASSETS 16,154 125,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

160,570

264,035

CREDITORS
Amounts falling due after more than one
year

8

-

(15,625

)

PROVISIONS FOR LIABILITIES (25,712 ) (23,163 )
NET ASSETS 134,858 225,247

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 134,758 225,147
SHAREHOLDERS' FUNDS 134,858 225,247

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

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

Wigwood Limited (Registered number: 08843824)
T/A The Barista

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:




M Carr - Director



S N Fletcher - Director


Wigwood Limited (Registered number: 08843824)
T/A The Barista

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

1. STATUTORY INFORMATION

Wigwood Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08843824

Registered office: Unit 15G Springfield Commercial Centre
Bagley Lane
Farsley
Leeds
West Yorkshire
LS28 5LY

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery.
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Goodwill
Goodwill arising on the acquisition of subsidiary undertakings and businesses, representing any excess of fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its economic life, which is 5 years

Wigwood Limited (Registered number: 08843824)
T/A The Barista

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Plant and machinery - 20% reducing balance
Fixtures and fittings- 15% reducing balance
Motor vehicles- 25% reducing balance
Computer equipment- 33% straight line and 50% straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are recognised in the profit and loss account.

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.

Wigwood Limited (Registered number: 08843824)
T/A The Barista

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors and other creditors.

Trade debtors, other debtors, cash and bank balances, trade creditors and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

Wigwood Limited (Registered number: 08843824)
T/A The Barista

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 33,297
AMORTISATION
At 1 January 2024 7,214
Charge for year 6,659
At 31 December 2024 13,873
NET BOOK VALUE
At 31 December 2024 19,424
At 31 December 2023 26,083

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 289,505
Additions 52,287
Disposals (42,428 )
At 31 December 2024 299,364
DEPRECIATION
At 1 January 2024 177,512
Charge for year 28,959
Eliminated on disposal (32,099 )
At 31 December 2024 174,372
NET BOOK VALUE
At 31 December 2024 124,992
At 31 December 2023 111,993

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 39,098 82,584
Other debtors 28,849 42,101
67,947 124,685

Wigwood Limited (Registered number: 08843824)
T/A The Barista

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Amounts owed by related undertaking 62,152 59,755

Aggregate amounts 130,099 184,440

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,625 37,500
Trade creditors 44,142 12,244
Taxation and social security 42,096 145,281
Other creditors 86,438 103,665
188,301 298,690

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 15,625

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 31,578 50,241
Between one and five years 37,178 42,840
68,756 93,081

10. CALLED UP SHARE CAPITAL

2024 2023
£ £
Allotted, issued and fully paid 100 100

Wigwood Limited (Registered number: 08843824)
T/A The Barista

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
M Carr
Balance outstanding at start of year - -
Amounts advanced 9,944 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,944 -

S N Fletcher
Balance outstanding at start of year - -
Amounts advanced 5,538 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,538 -