REGISTERED NUMBER: 07533956 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

WC GRUDGINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W M Grudgings

Mrs C L Grudgings

REGISTERED OFFICE:

24 Church Street

Lutterworth

Leicestershire

LE17 4AW

REGISTERED NUMBER:

07533956 (England and Wales)

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Intangible assets

5

22,500

26,250

Tangible assets

6

11,418

14,272

33,918

40,522

CURRENT ASSETS

Stocks

26,440

24,040

Debtors

7

13,597

18,267

Cash at bank

1,487

7,366

41,524

49,673

CREDITORS

Amounts falling due within one year

8

19,687

18,667

NET CURRENT ASSETS

21,837

31,006

TOTAL ASSETS LESS CURRENT LIABILITIES

55,755

71,528

PROVISIONS FOR LIABILITIES

9

2,169

2,712

NET ASSETS

53,586

68,816

CAPITAL AND RESERVES

Called up share capital

10

10

10

Retained earnings

53,576

68,806

SHAREHOLDERS' FUNDS

53,586

68,816

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 21 July 2025 and were signed on its behalf by:

Mrs C L Grudgings - Director

W M Grudgings - Director

1.	STATUTORY INFORMATION

WC Grudgings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover

Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade 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 The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

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.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

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

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2024

and 30 April 2025

75,000

AMORTISATION

At 1 May 2024

48,750

Amortisation for year

3,750

At 30 April 2025

52,500

NET BOOK VALUE

At 30 April 2025

22,500

At 30 April 2024

26,250

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 May 2024

and 30 April 2025

86,192

19,666

105,858

DEPRECIATION

At 1 May 2024

75,346

16,240

91,586

Charge for year

2,169

685

2,854

At 30 April 2025

77,515

16,925

94,440

NET BOOK VALUE

At 30 April 2025

8,677

2,741

11,418

At 30 April 2024

10,846

3,426

14,272

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

12,697

16,821

VAT

900

1,446

13,597

18,267

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

886

Trade creditors

10,458

6,854

Tax

3,479

6,470

Social security and other taxes

2,500

1,158

Pension control

190

134

Other creditors

500

500

Directors' current accounts

1,510

1,665

Accrued expenses

1,050

1,000

19,687

18,667

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

2,169

2,712

Deferred

tax

£

Balance at 1 May 2024

2,712

Credit to Income Statement during year

(543

)

Balance at 30 April 2025

2,169

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10

Ordinary

£1

10

10

11.	RELATED PARTY DISCLOSURES

As at 30 April 2025, an amount of £1,510 (2024 £1.6165 was due to the directors, and is included within creditors on the balance sheet.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W M and C L Grudgings.