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REGISTERED NUMBER: 04619042 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

K Wagstaff & Sons Limited

K Wagstaff & Sons Limited (Registered number: 04619042)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K Wagstaff & Sons Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: M D Wagstaff
G J Wagstaff





REGISTERED OFFICE: Harmile House
54 St Mary's Lane
Upminster
Essex
RM14 2QP





REGISTERED NUMBER: 04619042 (England and Wales)

K Wagstaff & Sons Limited (Registered number: 04619042)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 32,672 41,967
32,672 41,967

CURRENT ASSETS
Stocks 121,500 135,000
Debtors 6 288,058 271,867
Cash at bank and in hand 46,696 120,409
456,254 527,276
CREDITORS
Amounts falling due within one year 7 373,264 420,748
NET CURRENT ASSETS 82,990 106,528
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,662

148,495

CREDITORS
Amounts falling due after more than one
year

8

(5,311

)

(16,691

)

PROVISIONS FOR LIABILITIES (6,208 ) (7,930 )
NET ASSETS 104,143 123,874

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 103,943 123,674
SHAREHOLDERS' FUNDS 104,143 123,874

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

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

K Wagstaff & Sons Limited (Registered number: 04619042)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:





G J Wagstaff - Director


K Wagstaff & Sons Limited (Registered number: 04619042)

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

1. STATUTORY INFORMATION

K Wagstaff & Sons 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.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

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

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Cash and cash equivalents
These comprise cash at bank and any short term highly liquid bank deposits with an original maturity of three month or less.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is evidence that the asset is impaired.

Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.


K Wagstaff & Sons Limited (Registered number: 04619042)

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

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 250,000
AMORTISATION
At 1 September 2023
and 31 August 2024 250,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

K Wagstaff & Sons Limited (Registered number: 04619042)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 160,244
Additions 2,130
Disposals (15,821 )
At 31 August 2024 146,553
DEPRECIATION
At 1 September 2023 118,277
Charge for year 10,219
Eliminated on disposal (14,615 )
At 31 August 2024 113,881
NET BOOK VALUE
At 31 August 2024 32,672
At 31 August 2023 41,967

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 67,175
DEPRECIATION
At 1 September 2023 36,492
Charge for year 7,670
At 31 August 2024 44,162
NET BOOK VALUE
At 31 August 2024 23,013
At 31 August 2023 30,683

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 173,142 173,465
Other debtors 114,916 98,402
288,058 271,867

K Wagstaff & Sons Limited (Registered number: 04619042)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 11,380 13,049
Trade creditors 240,768 281,044
Taxation and social security 99,891 95,518
Other creditors 21,225 31,137
373,264 420,748

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 5,311 16,691

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Hire purchase contracts 16,691 29,740

The hire purchase liability is secured against the assets concerned.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
200 Ordinary £1 200 200

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
M D Wagstaff
Balance outstanding at start of year 39,752 37,155
Amounts advanced 59,965 54,697
Amounts repaid (49,000 ) (52,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 50,717 39,752

K Wagstaff & Sons Limited (Registered number: 04619042)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

G J Wagstaff
Balance outstanding at start of year 41,440 38,679
Amounts advanced 59,514 54,861
Amounts repaid (49,000 ) (52,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51,954 41,440

Loans are repayable on demand. Interest is charged at approved Revenue rates where applicable.