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Registered number: 01438434










WOLVISTON MANAGEMENT SERVICES LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
WOLVISTON MANAGEMENT SERVICES LIMITED
REGISTERED NUMBER: 01438434

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 5 
14,740
13,972

Tangible assets
 6 
287,158
339,019

  
301,898
352,991

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 7 
3,669,517
3,825,021

Cash at bank and in hand
  
223,851
183,005

  
3,893,368
4,008,026

Creditors: amounts falling due within one year
 9 
(2,417,487)
(2,533,343)

NET CURRENT ASSETS
  
 
 
1,475,881
 
 
1,474,683

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,777,779
1,827,674

Creditors: amounts falling due after more than one year
 10 
(10,947)
(20,918)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 11 
(7,130)
(22,140)

  
 
 
(7,130)
 
 
(22,140)

NET ASSETS
  
1,759,702
1,784,616


CAPITAL AND RESERVES
  

Called up share capital 
 12 
2,475
2,475

Capital redemption reserve
 13 
2,025
2,025

Profit and loss account
 13 
1,755,202
1,780,116

  
1,759,702
1,784,616


Page 1

 
WOLVISTON MANAGEMENT SERVICES LIMITED
REGISTERED NUMBER: 01438434
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

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 comprehensive income 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 6 May 2025.




S J Anderson
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


GENERAL INFORMATION

The company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
Wolviston House
5 Falcon Court
Preston Farm
Stockton on Tees
TS18 3TS

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

The director, having prepared forecasts and having made due and careful enquiry is of the opinion that the company has adequate working capital to execute its operations for the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the director has continued to adopt the going concern basis of accounting in preparing the annual financial statements.

  
2.3

Invoice discounting

The company obtains finance in respect of its trade debtors under an invoice discounting agreement. This is regarded as a financing arrangement only, and the gross amount of the factored trade debtors is included in debtors with any advances received against these debts being included in other creditors. Interest and charges in respect of these arrangements are charged to the profit and loss account on an accruals basis.

Page 3

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

  
2.4

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 and value added tax.
The following criteria must also be met before revenue is recognised: 
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied;
•   The amount of revenue can be measured reliably
•   It is probable that the company will receive the consideration due under the contract
•  The stage of completion of the contract at the end of the reporting period can be measured reliably •   Costs incurred and the costs to complete the contract can be measured reliably

  
2.5

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.
The estimated useful lives range as follows:
Computer software                                            4    years straight line

 
2.6

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.

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:

Long-term leasehold land and buildings
-
50 years
Motor vehicles
-
4 years
Fixtures and fittings
-
3 to 10 years

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.
Page 4

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.


3.


AUDITORS' REMUNERATION

During the year, the company obtained the following services from the company's auditors:


2024
2023
£
£

Fees payable to the company's auditors for the audit of the company's financial statements
8,295
7,900

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 14 (2023 - 14).

Page 5

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


INTANGIBLE ASSETS




Computer software

£



Cost


At 1 September 2023
34,930


Additions
7,562



At 31 August 2024

42,492



Amortisation


At 1 September 2023
20,958


Charge for the year on owned assets
6,794



At 31 August 2024

27,752



Net book value



At 31 August 2024
14,740



At 31 August 2023
13,972



Page 6

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


TANGIBLE FIXED ASSETS





L/Term Leasehold Property
Fixtures & fittings
Total

£
£
£



Cost 


At 1 September 2023
289,656
333,251
622,907


Additions
-
5,150
5,150



At 31 August 2024

289,656
338,401
628,057



Depreciation


At 1 September 2023
25,226
258,662
283,888


Charge for the year on owned assets
5,793
51,218
57,011



At 31 August 2024

31,019
309,880
340,899



Net book value



At 31 August 2024
258,637
28,521
287,158



At 31 August 2023
264,430
74,589
339,019

Page 7

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


DEBTORS

2024
2023
£
£


Trade debtors
1,606,117
1,729,477

Amounts owed by group undertakings
7,911
12,241

Other debtors
2,020,682
2,037,907

Prepayments and accrued income
34,807
45,396

3,669,517
3,825,021


Included in trade debtors is £1,469,692 (2023: £1,650,974) of invoice discounting debts outstanding.


8.


CASH AND CASH EQUIVALENTS

2024
2023
£
£


Bank & cash balances
223,851
183,005

223,851
183,005



9.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
15,382

Bank loans
10,648
10,648

Trade creditors
1,030,098
999,141

Amounts owed to group undertakings
360,723
462,409

Corporation tax
-
45,381

Other taxation and social security
687,866
568,927

Other creditors
290,032
395,005

Accruals and deferred income
38,120
36,450

2,417,487
2,533,343


Page 8

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


CREDITORS: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,947
20,918

10,947
20,918



11.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
(22,140)
(26,098)


Charged to profit or loss
15,010
3,958



At end of year
(7,130)
(22,140)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
7,130
22,140

7,130
22,140

Page 9

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


SHARE CAPITAL

2024
2023
£
£
Authorised



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000

Allotted, called up and fully paid



2,475 (2023 - 2,475) Ordinary shares of £1.00 each
2,475
2,475



13.


RESERVES

Capital redemption reserve

The capital redemption reserve relates to the company purchasing its own shares.

Profit & loss account

The profit and loss account relates to retained profits.


14.


PENSION COMMITMENTS

The company contributes to 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 £30,531 (2023 - £27,526). Contributions totalling £38,686 (2023 - £42,595) were payable to the fund at the balance sheet date.


15.


COMMITMENTS UNDER OPERATING LEASES

At 31 August 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£



Not later than 1 year
52,500
52,500

Later than 1 year and not later than 5 years
172,084
210,000

Later than 5 years
-
14,584

224,584
277,084

Page 10

 
WOLVISTON MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

16.


CONTROLLING PARTY

The ultimate parent undertaking is Wolviston Group Limited (address: Wolviston House. 5 Falcon Court, Preston Farm, Stockton on Tees, TS18 3TS) a company incorporated in England and Wales.
The company has taken advantage of the exemption from disclosing transactions with group companies on the grounds that the consolidated financial statements are publically available from Companies House, Crown Way, Maindy, Cardiff.


17.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 August 2024 was unqualified.

The audit report was signed on 20 May 2025 by Heather O'Driscoll FCA (senior statutory auditor) on behalf of Waltons Business Advisers Limited.

 
Page 11