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Registration number: 02256728

Wootton & Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Wootton & Co Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Wootton & Co Limited

Company Information

Directors

Mr F. S. Whatmough

Mrs S. Whatmough

Mr A Whatmough

Mrs K Taylor

Miss T Whatmough

Registered office

Sunrise Mill
Cambridge Street
Great Harwood
Blackburn
Lancashire
BB6 7BU

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Wootton & Co Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wootton & Co Limited for the year ended 31 July 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Wootton & Co Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Wootton & Co Limited and state those matters that we have agreed to state to the Board of Directors of Wootton & Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wootton & Co Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Wootton & Co Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Wootton & Co Limited. You consider that Wootton & Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Wootton & Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

22 April 2025

 

Wootton & Co Limited

(Registration number: 02256728)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,107,601

1,158,067

Current assets

 

Stocks

5

2,206

4,470

Debtors

6

615,678

254,046

Cash at bank and in hand

 

916,698

839,152

 

1,534,582

1,097,668

Creditors: Amounts falling due within one year

7

(272,494)

(267,250)

Net current assets

 

1,262,088

830,418

Total assets less current liabilities

 

2,369,689

1,988,485

Provisions for liabilities

(109,191)

(100,847)

Net assets

 

2,260,498

1,887,638

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,260,398

1,887,538

Shareholders' funds

 

2,260,498

1,887,638

For the financial year ending 31 July 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.

 

Wootton & Co Limited

(Registration number: 02256728)
Balance Sheet as at 31 July 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 22 April 2025 and signed on its behalf by:
 

.........................................
Mrs K Taylor
Director

   
     
 

Wootton & Co Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sunrise Mill
Cambridge Street
Great Harwood
Blackburn
Lancashire
BB6 7BU

These financial statements were authorised for issue by the Board on 22 April 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.

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

Freehold property

Straight line 2%

Plant and machinery

Reducing balance 10%

Fixtures and fittings

Reducing balance 10%

Motor vehicles

Reducing balance 25%

 

Wootton & Co Limited

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

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Wootton & Co Limited

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

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 8 (2023 - 8).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

771,889

552,234

194,124

1,518,247

Additions

-

23,952

-

23,952

Disposals

-

(159)

-

(159)

At 31 July 2024

771,889

576,027

194,124

1,542,040

Depreciation

At 1 August 2023

92,844

244,197

23,139

360,180

Charge for the year

15,438

33,190

25,647

74,275

Eliminated on disposal

-

(16)

-

(16)

At 31 July 2024

108,282

277,371

48,786

434,439

Carrying amount

At 31 July 2024

663,607

298,656

145,338

1,107,601

At 31 July 2023

679,045

308,037

170,985

1,158,067

5

Stocks

2024
£

2023
£

Other inventories

2,206

4,470

 

Wootton & Co Limited

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

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

280,616

232,576

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

9

200,000

-

Prepayments

 

5,801

3,059

Other debtors

 

129,261

18,411

 

615,678

254,046

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

3,837

Trade creditors

 

30,670

41,801

Taxation and social security

 

238,940

196,292

Accruals and deferred income

 

2,500

24,957

Other creditors

 

384

363

 

272,494

267,250

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

3,837

9

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Unsecured and repayable on demand with interest charged at the official rate

(3,837)

281,399

(182,000)

95,562

 

Wootton & Co Limited

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

 

Summary of transactions with entities with joint control or significant interest

During the year, the company advanced a loan to an entity under common control.
The loan is interest-free, unsecured, and repayable on demand.
No guarantees have been given or received in respect of this balance.

 

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

Advanced

200,000

200,000

At end of period

200,000

200,000