REGISTERED NUMBER: 03391363 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

ERIC WILSON & CO. LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E B Wilson

Mrs J Wilson

SECRETARY:

Mrs J Wilson

REGISTERED OFFICE:

The Maltings

Rosemary Lane

Halstead

Essex

CO9 1HZ

REGISTERED NUMBER:

03391363 (England and Wales)

ACCOUNTANTS:

Affinia (Halstead)

The Maltings

Rosemary Lane

Halstead

Essex

CO9 1HZ

FIXED ASSETS

Tangible assets

4

884,726

927,137

CURRENT ASSETS

Stocks

182,181

60,314

Debtors

5

392,493

501,258

Cash at bank

10,287

15,710

584,961

577,282

CREDITORS

Amounts falling due within one year

6

508,660

460,917

NET CURRENT ASSETS

76,301

116,365

TOTAL ASSETS LESS CURRENT LIABILITIES

961,027

1,043,502

CREDITORS

Amounts falling due after more than one year

7

(760,226

)

(682,551

)

PROVISIONS FOR LIABILITIES

(46,016

)

(65,846

)

NET ASSETS

154,785

295,105

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

154,685

295,005

SHAREHOLDERS' FUNDS

154,785

295,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 19 June 2025 and were signed on its behalf by:

E B Wilson - Director

1.	STATUTORY INFORMATION

Eric Wilson & Co. Ltd 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.

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.

Freehold property

-

2% on cost on buildings

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 5 years

Stocks

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

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 14 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 October 2023

603,656

203,073

915,734

Additions

-

-

46,451

Disposals

-

-

(29,295

)

At 30 September 2024

603,656

203,073

932,890

DEPRECIATION

At 1 October 2023

24,182

161,955

646,565

Charge for year

12,073

20,307

37,850

Eliminated on disposal

-

-

(20,857

)

At 30 September 2024

36,255

182,262

663,558

NET BOOK VALUE

At 30 September 2024

567,401

20,811

269,332

At 30 September 2023

579,474

41,118

269,169

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2023

69,344

35,521

1,827,328

Additions

-

877

47,328

Disposals

-

(19,295

)

(48,590

)

At 30 September 2024

69,344

17,103

1,826,066

DEPRECIATION

At 1 October 2023

38,321

29,168

900,191

Charge for year

7,756

3,315

81,301

Eliminated on disposal

-

(19,295

)

(40,152

)

At 30 September 2024

46,077

13,188

941,340

NET BOOK VALUE

At 30 September 2024

23,267

3,915

884,726

At 30 September 2023

31,023

6,353

927,137

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2023

565,968

55,600

621,568

Additions

38,194

-

38,194

Transfer to ownership

(537,768

)

(31,650

)

(569,418

)

At 30 September 2024

66,394

23,950

90,344

DEPRECIATION

At 1 October 2023

380,027

28,331

408,358

Charge for year

7,095

5,739

12,834

Transfer to ownership

(380,027

)

(27,334

)

(407,361

)

At 30 September 2024

7,095

6,736

13,831

NET BOOK VALUE

At 30 September 2024

59,299

17,214

76,513

At 30 September 2023

185,941

27,269

213,210

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

365,870

437,189

Other debtors

26,623

64,069

392,493

501,258

Trade debtors includes factored debts of £55,541 (2023: £81,078).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

113,371

67,483

Hire purchase contracts (see note 8)

23,630

56,420

Trade creditors

294,754

241,400

Taxation and social security

18,942

9,079

Other creditors

57,963

86,535

508,660

460,917

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

737,085

658,199

Hire purchase contracts (see note 8)

23,141

24,352

760,226

682,551

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

524,784

531,669

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2024

2023

£

£

Net obligations repayable:

Within one year

23,630

56,420

Between one and five years

23,141

24,352

46,771

80,772

Non-cancellable operating

leases

2024

2023

£

£

Within one year

2,723

4,668

Between one and five years

-

2,723

2,723

7,391

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

850,456

725,682

Hire purchase contracts

46,771

80,772

Factoring creditors

50,027

73,039

947,254

879,493

Lloyds TSB Commercial Finance Limited hold a security in the form of an All Assets Debentures dated 6th September 2004.

Lloyds TSB Bank plc hold a security in the form of a Debenture Deed dated 7th October 2004.

Allica Bank Limited hold a security in the form of security over the freehold property of the company dated 25 February 2022.

Paragon Bank Business Finance Plc hold a fixed charge against specific company assets dated 29 April 2016

Funding Circle is guaranteed by E B Wilson, director.

The hire purchase liabilities are secured on the specific asset the finance is held on.