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Registration number: 00801005

W and P Caley Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

W and P Caley Limited

Contents

Company Information

1

Statement of financial position

2

Notes to the Unaudited Financial Statements

3 to 10

 

W and P Caley Limited

Company Information

Directors

Mr DJ Caley

Mr S Caley

Mrs MJ Caley

Company secretary

Mrs MJ Caley

Registered office

Thorpland Manor
Runcton Holme
Kings Lynn
Norfolk
PE33 0AD

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers19 King Street
King's Lynn
Norfolk
PE30 1HB

 

W and P Caley Limited

(Registration number: 00801005)
Statement of financial position as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

629,541

684,703

Current assets

 

Stocks

6

69,970

89,718

Debtors

7

19,740

79,721

Cash at bank and in hand

 

266,907

1,583

 

356,617

171,022

Creditors: Amounts falling due within one year

8

(95,512)

(62,394)

Net current assets

 

261,105

108,628

Total assets less current liabilities

 

890,646

793,331

Creditors: Amounts falling due after more than one year

8

(214,166)

(224,499)

Provisions for liabilities

(20,682)

(33,159)

Net assets

 

655,798

535,673

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

655,698

535,573

Shareholders' funds

 

655,798

535,673

For the financial 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 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.

These financial statements have been prepared and 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 Statement of comprehensive income.

Approved and authorised by the Board on 4 April 2025 and signed on its behalf by:
 

.........................................
Mr DJ Caley
Director

 

W and P Caley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
Thorpland Manor
Runcton Holme
Kings Lynn
Norfolk
PE33 0AD
England

These financial statements were authorised for issue by the Board on 4 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

W and P Caley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Tangible assets

Tangible assets are stated in the statement of financial position 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

Farm buildings

10% straight line

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Combined other intangible assets

10% straight line

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.

 

W and P Caley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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 statement of comprehensive income 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

W and P Caley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 February 2024

14,544

14,544

At 31 January 2025

14,544

14,544

Amortisation

At 1 February 2024

14,544

14,544

At 31 January 2025

14,544

14,544

Carrying amount

At 31 January 2025

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

504,529

756,272

51,441

1,312,242

Additions

-

54,300

-

54,300

Disposals

-

(267,416)

(29,593)

(297,009)

At 31 January 2025

504,529

543,156

21,848

1,069,533

Depreciation

At 1 February 2024

-

589,505

38,034

627,539

Charge for the year

-

28,696

231

28,927

Eliminated on disposal

-

(199,365)

(17,109)

(216,474)

At 31 January 2025

-

418,836

21,156

439,992

Carrying amount

At 31 January 2025

504,529

124,320

692

629,541

At 31 January 2024

504,529

166,767

13,407

684,703

Included within the net book value of land and buildings above is £504,529 (2024 - £504,529) in respect of freehold land and buildings.
 

 

W and P Caley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Stocks

2025
£

2024
£

Finished goods and goods for resale

69,970

89,718

7

Debtors

Current

2025
£

2024
£

Trade debtors

16,198

63,335

Prepayments

1,357

1,500

Other debtors

2,185

14,886

 

19,740

79,721

 

W and P Caley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10,000

34,544

Trade creditors

 

3,087

2,014

Amounts due to related parties

10

731

-

Accruals

 

18,457

20,264

Tax liability

63,237

5,572

 

95,512

62,394

Due after one year

 

Loans and borrowings

214,166

224,499

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

214,166

224,499

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

10

Related party transactions

 

W and P Caley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Transactions with directors

2025

At 1 February 2024
£

At 31 January 2025
£

Mr DJ Caley

Rent paid for land and buildings

7,380

7,380

2024

At 1 February 2023
£

At 31 January 2024
£

Mr DJ Caley

Rent paid for land and buildings

7,380

7,380

 

W and P Caley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Loans to related parties

2025

Key management
£

At start of period

14,514

At end of period

14,514

2024

Key management
£

Total
£

Advanced

14,514

14,514

At end of period

14,514

14,514

Terms of loans to related parties

This loan was repaid on 4th April 2024.