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Registration number: 00654801

Wrightsons British Tags Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Wrightsons British Tags Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Wrightsons British Tags Limited

Company Information
__________________________________________________________________________

Directors

Mrs Tania Fairston

Mr Miles Fairston

Mr Richard Hallett

Registered office

Unit 6 Quadrum Park
Old Portsmouth Road
Peasmarsh
Guildford
Surrey
GU3 1LU


 

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

Wrightsons British Tags Limited

(Registration number: 00654801)
Balance Sheet as at 31 December 2024
__________________________________________________________________________

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

3

 

656,194

 

660,304

Investments

4

 

999

 

999

   

657,193

 

661,303

Current assets

   

 

Stocks

5

234,483

 

132,261

 

Debtors

6

123,596

 

150,094

 

Cash at bank and in hand

 

849,024

 

877,229

 

 

1,207,103

 

1,159,584

 

Creditors: Amounts falling due within one year

7

(329,085)

 

(186,372)

 

Net current assets

   

878,018

 

973,212

Total assets less current liabilities

   

1,535,211

 

1,634,515

Creditors: Amounts falling due after more than one year

7

 

(15,000)

 

(15,000)

Net assets

   

1,520,211

 

1,619,515

Capital and reserves

   

 

Called up share capital

8

15,000

 

15,000

 

Retained earnings

1,505,211

 

1,604,515

 

Shareholders' funds

   

1,520,211

 

1,619,515

For the financial year ending 31 December 2024 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 Profit and Loss Account.

Approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 

 

Wrightsons British Tags Limited

(Registration number: 00654801)
Balance Sheet as at 31 December 2024
__________________________________________________________________________

.........................................
Mr Miles Fairston
Director

 

Wrightsons British Tags Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Land and buildings

Over the period of the lease

Motor vehicles

25% RB

Fixture, fittings and equipment

25% RB

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Wrightsons British Tags Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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

 

Wrightsons British Tags Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

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 profit and loss account 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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 14).

 

Wrightsons British Tags Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

680,922

330,147

7,076

1,018,145

Additions

-

4,974

-

4,974

At 31 December 2024

680,922

335,121

7,076

1,023,119

Depreciation

At 1 January 2024

45,990

304,775

7,076

357,841

Charge for the year

2,520

6,564

-

9,084

At 31 December 2024

48,510

311,339

7,076

366,925

Carrying amount

At 31 December 2024

632,412

23,782

-

656,194

At 31 December 2023

634,932

25,372

-

660,304

Included within the net book value of land and buildings above is £632,412 (2023 - £634,932) in respect of freehold land and buildings.
 

4

Investments

2024
£

2023
£

Investments in subsidiaries

999

999

Subsidiaries

£

Cost or valuation

At 1 January 2024

999

Provision

Carrying amount

At 31 December 2024

999

At 31 December 2023

999

 

Wrightsons British Tags Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

5

Stocks

2024
£

2023
£

Other inventories

234,483

132,261

6

Debtors

Current

2024
£

2023
£

Trade debtors

93,560

127,898

Prepayments

8,500

8,150

Other debtors

21,536

14,046

 

123,596

150,094

 

Wrightsons British Tags Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

292,844

109,567

Taxation and social security

16,730

49,295

Other creditors

19,511

27,510

329,085

186,372

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

15,000

15,000

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

15,000

15,000

15,000

15,000

Preferenceshare of £1 each

15,000

15,000

15,000

15,000

30,000

30,000

30,000

30,000

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Redeemable preference shares

15,000

15,000