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REGISTERED NUMBER: 05933883 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

T. Worthington & Son Storage Solutions
(Wales) Limited

T. Worthington & Son Storage Solutions
(Wales) Limited (Registered number: 05933883)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T. Worthington & Son Storage Solutions
(Wales) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M H Worthington
T D Worthington
T M Worthington





SECRETARY: M H Worthington





REGISTERED OFFICE: 1 Kings Road
Llandovery
Carmarthenshire
SA20 0AW





REGISTERED NUMBER: 05933883 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

T. Worthington & Son Storage Solutions
(Wales) Limited (Registered number: 05933883)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 240,438 225,582

CURRENT ASSETS
Debtors 6 195,975 108,750
Cash at bank 14,061 1,045
210,036 109,795
CREDITORS
Amounts falling due within one year 7 132,065 58,080
NET CURRENT ASSETS 77,971 51,715
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,409

277,297

PROVISIONS FOR LIABILITIES 36,720 48,024
NET ASSETS 281,689 229,273

CAPITAL AND RESERVES
Called up share capital 8 510 510
Retained earnings 281,179 228,763
SHAREHOLDERS' FUNDS 281,689 229,273

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

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

T. Worthington & Son Storage Solutions
(Wales) Limited (Registered number: 05933883)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:




T M Worthington - Director M H Worthington - Director




T D Worthington - Director


T. Worthington & Son Storage Solutions
(Wales) Limited (Registered number: 05933883)

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

1. STATUTORY INFORMATION

T. Worthington & Son Storage Solutions (Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

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

The financial statements have been prepared on the going concern basis as the directors believe that the company will be able to obtain sufficient funding to secure the continued financing of the company's activities for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


T. Worthington & Son Storage Solutions
(Wales) Limited (Registered number: 05933883)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 464,906
Additions 62,315
At 31 May 2024 527,221
DEPRECIATION
At 1 June 2023 239,324
Charge for year 47,459
At 31 May 2024 286,783
NET BOOK VALUE
At 31 May 2024 240,438
At 31 May 2023 225,582

T. Worthington & Son Storage Solutions
(Wales) Limited (Registered number: 05933883)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 39,266 -
Other debtors 156,709 108,750
195,975 108,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 3,639 8,986
Trade creditors 8,325 5,215
Taxation and social security 40,483 9,015
Other creditors 79,618 34,864
132,065 58,080

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
510 Ordinary £1 510 510

9. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £149,000 (2023 - £108,750) owed by T Worthington & Son (Properties) Ltd, a company under common control.