COMPANY REGISTRATION NUMBER:
03734066
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 May 2025
Fixed assets
|
Tangible assets |
5 |
|
6,007 |
18,354 |
|
|
|
|
|
Current assets
|
Stocks |
395,291 |
|
401,486 |
|
Debtors |
6 |
88,117 |
|
87,662 |
|
Investments |
7 |
1,484,803 |
|
1,431,665 |
|
Cash at bank and in hand |
1,258,925 |
|
1,160,030 |
|
------------ |
|
------------ |
|
3,227,136 |
|
3,080,843 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
204,065 |
|
201,168 |
|
------------ |
|
------------ |
|
Net current assets |
|
3,023,071 |
2,879,675 |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
3,029,078 |
2,898,029 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
96,505 |
76,217 |
|
|
------------ |
------------ |
|
Net assets |
|
2,932,573 |
2,821,812 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
1 |
1 |
|
Capital redemption reserve |
|
1 |
1 |
|
Profit and loss account |
|
2,932,571 |
2,821,810 |
|
|
------------ |
------------ |
|
Shareholder funds |
|
2,932,573 |
2,821,812 |
|
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
|
31 May 2025
These financial statements were approved by the
board of directors
and authorised for issue on
3 September 2025
, and are signed on behalf of the board by:
|
Mr R M L Allmand |
|
|
Director |
|
|
|
Company registration number:
03734066
|
Notes to the Financial Statements |
|
Year ended 31 May 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1 Jaeger House, 141 Holt Road, Wrexham, LL13 9DY.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The company's turnover represents the value, excluding Value Added Tax, of goods and services supplied to customers in the year.
Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & machinery |
- |
15% straight line & 30% straight line |
|
Motor vehicle |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Particulars of employees
The average number of persons employed by the company during the year amounted to
16
(2024:
16
).
5.
Tangible assets
|
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 June 2024 and 31 May 2025 |
18,502 |
141,538 |
160,040 |
|
-------- |
--------- |
--------- |
|
Depreciation |
|
|
|
|
At 1 June 2024 |
18,502 |
123,184 |
141,686 |
|
Charge for the year |
– |
12,347 |
12,347 |
|
-------- |
--------- |
--------- |
|
At 31 May 2025 |
18,502 |
135,531 |
154,033 |
|
-------- |
--------- |
--------- |
|
Carrying amount |
|
|
|
|
At 31 May 2025 |
– |
6,007 |
6,007 |
|
-------- |
--------- |
--------- |
|
At 31 May 2024 |
– |
18,354 |
18,354 |
|
-------- |
--------- |
--------- |
|
|
|
|
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
41,315 |
27,495 |
|
Other debtors |
46,802 |
60,167 |
|
-------- |
-------- |
|
88,117 |
87,662 |
|
-------- |
-------- |
|
|
|
7.
Investments
|
2025 |
2024 |
|
£ |
£ |
|
Prudential |
598,215 |
572,183 |
|
Fidelity |
324,840 |
304,812 |
|
RBC Brewin Dolphin |
561,748 |
554,670 |
|
------------ |
------------ |
|
1,484,803 |
1,431,665 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
84,999 |
85,548 |
|
Social security and other taxes |
109,827 |
76,269 |
|
Other creditors - share sales pending |
– |
30,022 |
|
Other creditors |
9,239 |
9,329 |
|
--------- |
--------- |
|
204,065 |
201,168 |
|
--------- |
--------- |
|
|
|
9.
Director's advances, credits and guarantees
The directors operate a current account with the company. There was no movement in the year and the opening and closing balance on the account remained the same at £4,340. No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year