Registered number
00506745
E.S. Wilks & Son Ltd
Filleted Accounts
31 December 2024
E.S. Wilks & Son Ltd
Registered number: 00506745
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 246,588 251,944
Current assets
Stocks 48,500 44,095
Debtors 4 9,474 7,821
Cash at bank and in hand 63,742 80,743
121,716 132,659
Creditors: amounts falling due within one year 5 (60,032) (67,599)
Net current assets 61,684 65,060
Total assets less current liabilities 308,272 317,004
Provisions for liabilities (28,156) (28,156)
Net assets 280,116 288,848
Capital and reserves
Called up share capital 10,664 10,664
Profit and loss account 269,452 278,184
Shareholders' funds 280,116 288,848
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
PD Wilks
Director
Approved by the board on 4 June 2025
E.S. Wilks & Son Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 255,000 11,921 266,921
At 31 December 2024 255,000 11,921 266,921
Depreciation
At 1 January 2024 5,100 9,877 14,977
Charge for the year 5,100 256 5,356
At 31 December 2024 10,200 10,133 20,333
Net book value
At 31 December 2024 244,800 1,788 246,588
At 31 December 2023 249,900 2,044 251,944
Freehold land and buildings: 2024 2023
£ £
Historical cost 106,812 106,812
Cumulative depreciation based on historical cost - -
106,812 106,812
The Company owns two properties which it rents to third parties. These properties were revalued in ealy 2022 and the market value of £255,000 attributed in 2016 was held to still be correct. The re-valuation was carried out by Mr JS Wilks, Chartered Surveyor, of 6 Old Saddlers Yard, Uttoxeter, Staffordshire, ST14 7RT.
4 Debtors 2024 2023
£ £
Trade debtors 5,125 3,677
Other debtors 4,349 4,144
9,474 7,821
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 166
Trade creditors 24,057 24,249
Taxation and social security costs 28,426 26,738
Other creditors 7,549 16,446
60,032 67,599
6 Other information
E.S. Wilks & Son Ltd is a private company limited by shares and incorporated in England. Its registered office is:
16a Tape Street
Cheadle
Stoke on Trent
Staffordshire
ST10 1BD
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