S, M. & T. Wigham Limited


Director	Mr T Wigham


Company Secretary	Mrs P Bellas


Registered Address	Tymparon Garth
	Newbiggin
	Stainton
	CA11 0HS


Registered Number	01085724 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		647,514		482,225
			647,514		482,225
Current assets
Stocks		12,117		9,311
Debtors	4	329,933		192,092
Cash at bank and on hand		-		8,663
		342,050		210,066
Creditors amounts falling due within one year	5	(860,305)		(659,706)
Net current assets (liabilities)			(518,255)		(449,640)
Total assets less current liabilities			129,259		32,585
Creditors amounts falling due after one year	6		(111,466)		(16,377)
Net assets			17,793		16,208
Capital and reserves
Called up share capital			500		500
Profit and loss account			17,293		15,708
Shareholders' funds			17,793		16,208

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 19 September 2025, and are signed on its behalf by:

Mr T Wigham
Director
Registered Company No. 01085724

S, M. & T. Wigham Limited

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	25	-
Vehicles	25	-

	Finance leases and hire purchase contracts
	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease.

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	11		10

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 January 24	1,591	5,186	1,265,138	1,271,915
Additions	-	-	338,051	338,051
Disposals	-	-	(88,500)	(88,500)
At 31 December 24	1,591	5,186	1,514,689	1,521,466
Depreciation and impairment
At 01 January 24	1,399	4,857	783,434	789,690
Charge for year	32	82	154,303	154,417
On disposals	-	-	(70,155)	(70,155)
At 31 December 24	1,431	4,939	867,582	873,952
Net book value
At 31 December 24	160	247	647,107	647,514
At 31 December 23	192	329	481,704	482,225

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	291,995	161,236
Prepayments and accrued income	37,938	30,856
Total	329,933	192,092


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	191,737	88,450
Bank borrowings and overdrafts	58,875	10,638
Taxation and social security	44,740	29,356
Finance lease and HP contracts	61,747	30,204
Other creditors	493,800	493,431
Accrued liabilities and deferred income	9,406	7,627
Total	860,305	659,706


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Finance lease and hire purchase contracts amounting to £61,747 (2023 - £30,204) are secured against the assets to which they relate.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Finance lease and hire purchase contracts amounting to £61,747 (2023 - £30,204) are secured against the assets to which they relate.

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	5,470	16,377
Other creditors	105,996	-
Total	111,466	16,377


	Finance lease and hire purchase contracts amounting to £105,995 (2023 - £Nil) are secured against the assets to which they relate.

7.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	167,742		30,204

8.	Events after reporting date
	The company purchased land in the main yard that it operates from, for £210,000 in April 2025.

9.	Related party transactions
	During the year the company continued to borrow funds interest free from the director. As of the balance sheet date, the company owed the director £468,217 (2023 - £449,008). The loan is unsecured and repayable on demand.

10.	Further information regarding the company's financial position
	In respect of these Financial Statements the comparative income statement has had £273,769 moved from cost of sales to sales, this reclassification has not affected the reported profit position which remains the same.