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Company registration number: 158629
Wilkinson and Whitley, Limited
Unaudited filleted financial statements
31 January 2025
Wilkinson and Whitley, Limited
Contents
Statement of financial position
Notes to the financial statements
Wilkinson and Whitley, Limited
Statement of financial position
31 January 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 68,051 71,522
Investments 6 1,146 1,240
_______ _______
69,197 72,762
Current assets
Stocks 44,297 71,061
Debtors 7 6,543 8,173
Cash at bank and in hand 320,627 254,496
_______ _______
371,467 333,730
Creditors: amounts falling due
within one year 8 ( 145,385) ( 154,911)
_______ _______
Net current assets 226,082 178,819
_______ _______
Total assets less current liabilities 295,279 251,581
Provisions for liabilities ( 13,898) ( 12,923)
_______ _______
Net assets 281,381 238,658
_______ _______
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 276,381 233,658
_______ _______
Shareholders funds 281,381 238,658
_______ _______
For the year ending 31 January 2025 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 March 2025 , and are signed on behalf of the board by:
Mr J R Wilkinson
Director
Company registration number: 158629
Wilkinson and Whitley, Limited
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lime Street Garage, Bingley, West Yorkshire, BD16 4BE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - No depreciation
Fittings fixtures and equipment - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2024: 8 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 February 2024 14,241 149,945 164,186
Additions - 2,581 2,581
_______ _______ _______
At 31 January 2025 14,241 152,526 166,767
_______ _______ _______
Depreciation
At 1 February 2024 2,172 90,492 92,664
Charge for the year - 6,052 6,052
_______ _______ _______
At 31 January 2025 2,172 96,544 98,716
_______ _______ _______
Carrying amount
At 31 January 2025 12,069 55,982 68,051
_______ _______ _______
At 31 January 2024 12,069 59,453 71,522
_______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost or valuation
At 1 February 2024 1,240 1,240
Revaluations ( 94) ( 94)
_______ _______
At 31 January 2025 1,146 1,146
_______ _______
Impairment
At 1 February 2024 and 31 January 2025 - -
_______ _______
Carrying amount
At 31 January 2025 1,146 1,146
_______ _______
At 31 January 2024 1,240 1,240
_______ _______
7. Debtors
2025 2024
£ £
Trade debtors 2 1,713
Other debtors 6,541 6,460
_______ _______
6,543 8,173
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 27,343 26,528
Corporation tax 33,152 28,162
Social security and other taxes 41,156 44,794
Other creditors 43,734 55,427
_______ _______
145,385 154,911
_______ _______