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REGISTERED NUMBER: 04043385 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 September 2024

for

H E Woolley Limited

H E Woolley Limited (Registered number: 04043385)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H E Woolley Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Sir H R Wilmot
S A Morrison
A J Hall





SECRETARY: Lady S C Wilmot





REGISTERED OFFICE: 1a Startforth Road
Middlesbrough
Teesside
TS2 1PT





REGISTERED NUMBER: 04043385 (England and Wales)





ACCOUNTANTS: Frank Brown & Walford
Tees View
Sabatier Close
Stockton
TS17 6EW

H E Woolley Limited (Registered number: 04043385)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 51,419 66,992
Tangible assets 5 554,353 610,800
605,772 677,792

CURRENT ASSETS
Stocks 156,064 184,485
Debtors 6 461,358 495,735
Cash at bank and in hand 621,020 455,250
1,238,442 1,135,470
CREDITORS
Amounts falling due within one year 7 463,270 506,633
NET CURRENT ASSETS 775,172 628,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,380,944

1,306,629

CREDITORS
Amounts falling due after more than one
year

8

(23,854

)

(40,205

)

PROVISIONS FOR LIABILITIES (138,588 ) (152,700 )
NET ASSETS 1,218,502 1,113,724

H E Woolley Limited (Registered number: 04043385)

Balance Sheet - continued
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,208,502 1,103,724
1,218,502 1,113,724

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 23 June 2025 and were signed on its behalf by:





Sir H R Wilmot - Director


H E Woolley Limited (Registered number: 04043385)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

H E Woolley 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.

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.
Plant and machinery - 10% - 25% on cost
Fixtures,fittings & equipment - 10% to 33% on cost
Motor vehicles - 25% on cost
Gas cylinders - 4% on cost

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

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.

H E Woolley Limited (Registered number: 04043385)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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
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.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 40 ) .

H E Woolley Limited (Registered number: 04043385)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 343,445
AMORTISATION
At 1 October 2023 276,453
Charge for year 15,573
At 30 September 2024 292,026
NET BOOK VALUE
At 30 September 2024 51,419
At 30 September 2023 66,992

5. TANGIBLE FIXED ASSETS
Plant and Fixtures,fittings Motor Gas
machinery & equipment vehicles cylinders Totals
£    £    £    £    £   
COST
At 1 October 2023 237,739 109,441 522,378 429,017 1,298,575
Additions 10,000 4,976 44,467 15,400 74,843
Disposals - - (12,198 ) - (12,198 )
At 30 September 2024 247,739 114,417 554,647 444,417 1,361,220
DEPRECIATION
At 1 October 2023 150,196 96,422 299,368 141,789 687,775
Charge for year 14,926 4,813 94,391 17,160 131,290
Eliminated on disposal - - (12,198 ) - (12,198 )
At 30 September 2024 165,122 101,235 381,561 158,949 806,867
NET BOOK VALUE
At 30 September 2024 82,617 13,182 173,086 285,468 554,353
At 30 September 2023 87,543 13,019 223,010 287,228 610,800

H E Woolley Limited (Registered number: 04043385)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 400,160 444,576
Other debtors - 1,799
Prepayments and accrued income 61,198 49,360
461,358 495,735

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 35,974 42,461
Trade creditors 117,649 105,435
Tax 122,755 75,652
Social security and other taxes 42,119 32,960
VAT 66,791 76,018
Other creditors 71,840 147,907
Accruals and deferred income 6,142 26,200
463,270 506,633

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase 2-3 years 23,854 40,205

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Hire purchase contracts 35,974 42,461

The hire purchase liability is secured against the assets to which the liability relates to.

10. ULTIMATE CONTROLLING PARTY

The controlling party is H E Woolley Limited Employee Ownership Trust.

H E Woolley Limited (Registered number: 04043385)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. DISTRIBUTION

On 15th November 2022 the entire share capital of the company was acquired by an Employee Ownership Trust, H E Woolley Limited Employee Ownership Trust.

The acquisition by the trust was funded by loans from the previous shareholders which are payable over 10 years. The loans are obligations of the Trust and therefore the liability for future loan repayments will not be recognised in the company, however the company is guarantor for the loans.

The loan repayments of the trust are financed by donations from the company. During the year the company made donations to the trust totalling £221,000 (2023: £900,000) The payments are shown in the statement of changes in equity as a deduction from profit and loss reserve.

12. OTHER FINANCIAL COMMITMENTS

The company had total financial commitments at the balance sheet date of £124,274. (2023 £164,274)