Wilson Lendrum & Weir Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI009234

Wilson Lendrum & Weir Limited

Filleted Unaudited Financial Statements

31 December 2024

Wilson Lendrum & Weir Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		886,224	883,167

Current assets

Stocks		1,813,417	1,909,089
Debtors	6	246,359	222,306
Cash at bank and in hand		1,576,022	1,224,820
		------------	------------
		3,635,798	3,356,215

Creditors: amounts falling due within one year	7	1,290,110		1,410,895
		------------		------------
Net current assets			2,345,688	1,945,320
			------------	------------
Total assets less current liabilities			3,231,912	2,828,487

Provisions

Taxation including deferred tax	21,912	23,840
	------------	------------
Net assets	3,210,000	2,804,647
	------------	------------

Capital and reserves

Called up share capital	9	1,500	1,500
Profit and loss account		3,208,500	2,803,147
		------------	------------
Shareholders funds		3,210,000	2,804,647
		------------	------------

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 December 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Wilson Lendrum & Weir Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 31 July 2025 , and are signed on behalf of the board by:

Mr P Wilson	Mrs P Wilson
Director	Director

Mr L Wilson
Director

Company registration number: NI009234

Wilson Lendrum & Weir Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 10 Derrychara Industrial Link, Enniskillen, Co Fermanagh, BT74 6JF. The principal activity of the company is the retail of motor vehicle parts and accessories.

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.

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

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the Statement of Financial Position date. Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Freehold Property	-	2% reducing balance
Plant & Machinery	-	33% reducing balance
Fixtures & Fittings	-	20% reducing balance
Motor Vehicles	-	20% reducing balance

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 37 (2023: 34 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	921,992	68,880	127,014	107,454	1,225,340
Additions	–	12,500	–	46,367	58,867
Disposals	–	–	–	( 12,000)	( 12,000)
	---------	--------	---------	---------	------------
At 31 December 2024	921,992	81,380	127,014	141,821	1,272,207
	---------	--------	---------	---------	------------
Depreciation
At 1 January 2024	147,190	66,363	77,931	50,689	342,173
Charge for the year	15,496	4,955	9,817	19,398	49,666
Disposals	–	–	–	( 5,856)	( 5,856)
	---------	--------	---------	---------	------------
At 31 December 2024	162,686	71,318	87,748	64,231	385,983
	---------	--------	---------	---------	------------
Carrying amount
At 31 December 2024	759,306	10,062	39,266	77,590	886,224
	---------	--------	---------	---------	------------
At 31 December 2023	774,802	2,517	49,083	56,765	883,167
	---------	--------	---------	---------	------------

6. Debtors

	2024	2023
	£	£
Trade debtors	236,942	189,364
Other debtors	9,417	32,942
	---------	---------
	246,359	222,306
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	857,403	1,076,977
Social security and other taxes	432,707	251,700
Other Creditors	–	82,218
	------------	------------
	1,290,110	1,410,895
	------------	------------

8. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	21,912	23,840
	--------	--------

The movement in the year relates to excess of taxation allowances over depreciation on fixed assets.

9. Called up share capital

Authorised share capital

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	6,000	6,000	6,000	6,000
	-------	-------	-------	-------

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1,500	1,500	1,500	1,500
	-------	-------	-------	-------