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Registration number: 04923707

R Wookey & Sons Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024

 

R Wookey & Sons Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

R Wookey & Sons Limited

Company Information

Directors

Mr RJ Wookey

Mrs SN Wookey

Company secretary

Mrs B Broom

Registered office

Pear Tree Yard
Biddisham
Axbridge
Somerset
BS26 2RD

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

R Wookey & Sons Limited

(Registration number: 04923707)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

28,045

38,236

Current assets

 

Debtors

5

65,714

64,579

Cash at bank and in hand

 

52

51

 

65,766

64,630

Creditors: Amounts falling due within one year

6

(72,750)

(74,951)

Net current liabilities

 

(6,984)

(10,321)

Total assets less current liabilities

 

21,061

27,915

Creditors: Amounts falling due after more than one year

6

(15,048)

(20,002)

Provisions for liabilities

(5,683)

(7,642)

Net assets

 

330

271

Capital and reserves

 

Called up share capital

2

2

Retained earnings

328

269

Shareholders' funds

 

330

271

 

R Wookey & Sons Limited

(Registration number: 04923707)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 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 25 July 2025 and signed on its behalf by:
 

.........................................
Mr RJ Wookey
Director

 

R Wookey & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

These financial statements were authorised for issue by the Board on ........... .

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The presentation currency of the financial statements is Pound Sterling (£). All monetary amounts are rounded to the nearest pound.

 

R Wookey & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

 

R Wookey & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2

Accounting policies (continued)

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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

33% cost

Borrowings

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.

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.

 

R Wookey & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2

Accounting policies (continued)

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

R Wookey & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Plant and machinery
 £

Motor vehicles
 £

Office equipment
£

Total
£

Cost or valuation

At 1 November 2023

672

472,985

8,664

482,321

Disposals

-

(97,279)

-

(97,279)

At 31 October 2024

672

375,706

8,664

385,042

Depreciation

At 1 November 2023

672

435,630

7,783

444,085

Charge for the year

-

9,127

220

9,347

Eliminated on disposal

-

(96,435)

-

(96,435)

At 31 October 2024

672

348,322

8,003

356,997

Carrying amount

At 31 October 2024

-

27,384

661

28,045

At 31 October 2023

-

37,355

881

38,236

5

Debtors

Current

2024
£

2023
£

Trade debtors

8,685

5,326

Prepayments

2,729

3,061

Other debtors

54,300

56,192

 

65,714

64,579

 

R Wookey & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

15,481

20,445

Trade creditors

 

7,876

9,382

Taxation and social security

 

33,838

31,633

Accruals and deferred income

 

15,505

13,295

Other creditors

 

50

196

 

72,750

74,951

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

15,048

20,002

 

R Wookey & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

15,048

20,002

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

15,048

20,002

 

R Wookey & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

Mr RJ Wookey

Directors Loan Account

38,995

33,241

(41,712)

30,524

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr RJ Wookey

Directors Loan Account

20,843

45,843

(27,692)

38,995

Interest has been paid at the official rate on the overdrawn position. No section S455 has been provided as the loan has been repaid within 9 months of the year end.

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,048

20,002

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,648

10,649

Bank overdrafts

4,833

9,796

15,481

20,445