Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-09The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.102023-09-01falseNo description of principal activity9truetruefalse 11510041 2023-09-01 2024-08-31 11510041 2022-09-01 2023-08-31 11510041 2024-08-31 11510041 2023-08-31 11510041 c:Director2 2023-09-01 2024-08-31 11510041 d:PlantMachinery 2023-09-01 2024-08-31 11510041 d:PlantMachinery 2024-08-31 11510041 d:PlantMachinery 2023-08-31 11510041 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 11510041 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 11510041 d:FurnitureFittings 2023-09-01 2024-08-31 11510041 d:FurnitureFittings 2024-08-31 11510041 d:FurnitureFittings 2023-08-31 11510041 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 11510041 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 11510041 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 11510041 d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 11510041 d:ComputerSoftware 2024-08-31 11510041 d:ComputerSoftware 2023-08-31 11510041 d:CurrentFinancialInstruments 2024-08-31 11510041 d:CurrentFinancialInstruments 2023-08-31 11510041 d:Non-currentFinancialInstruments 2024-08-31 11510041 d:Non-currentFinancialInstruments 2023-08-31 11510041 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 11510041 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 11510041 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 11510041 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 11510041 d:ShareCapital 2024-08-31 11510041 d:ShareCapital 2023-08-31 11510041 d:RetainedEarningsAccumulatedLosses 2024-08-31 11510041 d:RetainedEarningsAccumulatedLosses 2023-08-31 11510041 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 11510041 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 11510041 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 11510041 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 11510041 c:FRS102 2023-09-01 2024-08-31 11510041 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 11510041 c:FullAccounts 2023-09-01 2024-08-31 11510041 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 11510041 d:ComputerSoftware d:OwnedIntangibleAssets 2023-09-01 2024-08-31 11510041 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 11510041










ERNEST WRIGHT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
ERNEST WRIGHT LIMITED
REGISTERED NUMBER: 11510041

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,897
3,917

Tangible assets
 5 
48,761
47,331

  
50,658
51,248

Current assets
  

Stocks
  
175,711
201,415

Debtors: amounts falling due within one year
 6 
32,813
39,295

Cash at bank and in hand
  
78,068
37,720

  
286,592
278,430

Creditors: amounts falling due within one year
 7 
(167,919)
(215,217)

Net current assets
  
 
 
118,673
 
 
63,213

Creditors: amounts falling due after more than one year
  
(332,588)
(242,577)

  

Net liabilities
  
(163,257)
(128,116)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(164,257)
(129,116)

  
(163,257)
(128,116)


Page 1

 
ERNEST WRIGHT LIMITED
REGISTERED NUMBER: 11510041
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 May 2025.




P M Jacobs
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ERNEST WRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Ernest Wright Limited is a private company limited by shares, incorporated in England and Wales (registered number: 11510041). Its registered office is 58 Broad Lane, Sheffield, S1 4BT. The principal activity of the Company throughout the year continued to be that of manufacturing tools.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at 31 August 2024 the Company had an excess of liabilities over its total assets amounting to
£163,257 (2023: £128,116). The ability of the Company to meet its liabilities as they fall due is reliant
upon the future ability of the business to generate profit and cashflow from its trading activities.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
ERNEST WRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ERNEST WRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15% Straight line
Fixtures and fittings
-
15% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 10).

Page 5

 
ERNEST WRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Intangible assets




Computer software

£



Cost


At 1 September 2023
20,677



At 31 August 2024

20,677



Amortisation


At 1 September 2023
16,760


Charge for the year on owned assets
2,020



At 31 August 2024

18,780



Net book value



At 31 August 2024
1,897



At 31 August 2023
3,917



Page 6

 
ERNEST WRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 September 2023
61,949
11,172
73,121


Additions
11,690
-
11,690


Disposals
(3,000)
-
(3,000)



At 31 August 2024

70,639
11,172
81,811



Depreciation


At 1 September 2023
24,066
1,724
25,790


Charge for the year on owned assets
8,584
-
8,584


Charge for the year on financed assets
-
1,676
1,676


Disposals
(3,000)
-
(3,000)



At 31 August 2024

29,650
3,400
33,050



Net book value



At 31 August 2024
40,989
7,772
48,761



At 31 August 2023
37,882
9,449
47,331


6.


Debtors

2024
2023
£
£


Other debtors
882
9,429

Prepayments and accrued income
31,931
8,060

Deferred taxation
-
21,806

32,813
39,295


Page 7

 
ERNEST WRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
14,788
15,666

Amounts owed to other participating interests
68,603
49,790

Corporation tax
(3)
(3)

Other taxation and social security
3,043
3,137

Other creditors
2,485
660

Accruals and deferred income
79,003
145,967

167,919
215,217



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
332,588
242,577

332,588
242,577



9.


Deferred taxation




2024


£






At beginning of year
(21,806)


Utilised in year
21,806



At end of year
-

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
9,971

Tax losses carried forward
-
(31,777)

-
(21,806)

Page 8

 
ERNEST WRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Pension commitments

The Company operates a defined contributions 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 £3,610. Contributions totalling £324 were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9