REGISTERED NUMBER: 00489637 (England and Wales)

WEBB'S IRONMONGERY STORES (TENTERDEN)

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C E Webb

N C Webb

G R W Webb

SECRETARY:

G R W Webb

REGISTERED OFFICE:

89 King Street

Maidstone

Kent

ME141BG

BUSINESS ADDRESS:

51 High Street

TENTERDEN

Kent

TN30 6BJ

REGISTERED NUMBER:

00489637 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

89 King Street

Maidstone

Kent

ME14 1BG

FIXED ASSETS

Tangible assets

5

1,014,610

1,047,667

Investments

6

1,000

1,000

Investment property

7

494,967

509,631

1,510,577

1,558,298

CURRENT ASSETS

Stocks

222,587

224,065

Debtors

8

83,331

90,890

Cash at bank and in hand

171,616

179,370

477,534

494,325

CREDITORS

Amounts falling due within one year

9

506,288

512,844

NET CURRENT LIABILITIES

(28,754

)

(18,519

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,481,823

1,539,779

PROVISIONS FOR LIABILITIES

182,779

184,498

NET ASSETS

1,299,044

1,355,281

CAPITAL AND RESERVES

Called up share capital

11

5,000

5,000

Revaluation reserve

12

902,506

902,506

Share option reserve

32,000

32,000

Retained earnings

359,538

415,775

SHAREHOLDERS' FUNDS

1,299,044

1,355,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 30 September 2025 and were signed on its behalf by:

N C Webb - Director

1.	STATUTORY INFORMATION

Webb's Ironmongery Stores (Tenterden) 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 as modified by the revaluation of certain assets.

The company meets its day to day working capital requirements through the support of its directors and

they have pledged their continuing support. They therefore consider it appropriate to prepare accounts on

the going concern basis. These financial statements do not include any adjustments that would result

from a withdrawal of this support.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value 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. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Buildings

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is carried at fair value. Revaluation surpluses are recognised in the income statement.

Deffered Taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stock is valued at selling price adjusted for gross margin, which approximates to cost, after making due allowance for obsolete and slow moving items.

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Investments

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 33 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Buildings

property

machinery

£

£

£

COST OR VALUATION

At 1 January 2024

1,003,415

277,681

34,787

Additions

-

-

-

At 31 December 2024

1,003,415

277,681

34,787

DEPRECIATION

At 1 January 2024

120,536

145,623

12,582

Charge for year

20,000

4,011

5,551

At 31 December 2024

140,536

149,634

18,133

NET BOOK VALUE

At 31 December 2024

862,879

128,047

16,654

At 31 December 2023

882,879

132,058

22,205

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

97,180

17,544

3,985

1,434,592

Additions

-

-

4,800

4,800

At 31 December 2024

97,180

17,544

8,785

1,439,392

DEPRECIATION

At 1 January 2024

89,666

14,853

3,665

386,925

Charge for year

5,763

673

1,859

37,857

At 31 December 2024

95,429

15,526

5,524

424,782

NET BOOK VALUE

At 31 December 2024

1,751

2,018

3,261

1,014,610

At 31 December 2023

7,514

2,691

320

1,047,667

Cost or valuation at 31 December 2024 is represented by:

Improvements

to

Plant and

Buildings

property

machinery

£

£

£

Valuation in 2017

1,003,415

-

-

Cost

-

277,681

34,787

1,003,415

277,681

34,787

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Valuation in 2017

-

-

-

1,003,415

Cost

97,180

17,544

8,785

435,977

97,180

17,544

8,785

1,439,392

If freehold property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

6,772

6,772

Aggregate depreciation

603

603

Value of land in freehold land and buildings

3,416

3,416

Freehold property was valued on an open market basis on 31 December 2024 by the directors .

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

1,000

NET BOOK VALUE

At 31 December 2024

1,000

At 31 December 2023

1,000

Fixed asset investments are comprised of holdings of shares in unlisted companies.

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

733,237

DEPRECIATION

At 1 January 2024

223,606

Charge for year

14,664

At 31 December 2024

238,270

NET BOOK VALUE

At 31 December 2024

494,967

At 31 December 2023

509,631

The directors have assessed the value of the properties at the balance sheet date and believe that it remains unchanged.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

18,057

23,964

Other debtors

42,250

42,250

Prepayments

23,024

24,676

83,331

90,890

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Secured loans

85,000

85,000

Trade creditors

56,946

73,022

Other taxes and social security

66,332

55,280

Accrued expenses

3,500

4,500

Directors' Current Accounts

294,510

295,042

506,288

512,844

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Secured loans

85,000

85,000

The loan is secured on 49 High Street, Tenterden.

On the 13th January 2014 HSBC placed a fixed and floating charge over all assets in relation to the bank overdraft.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

5,000

Ordinary

£1

5,000

5,000

12.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

902,506

13.	RELATED PARTY DISCLOSURES

During the year under review the company rented a property from Mr N C Webb and Mr G R W Webb for £22,000 and from a trust of which Mrs C E Webb is the sole beneficiary, again for £17,600.

The company also paid interest to the directors of £13.000 during the year. Mr N C Webb and Mr G R Webb received £3,250 each and Mrs C E Webb received £6,500.

14.	ULTIMATE CONTROLLING PARTY

Together, Mr N C Webb and Mr G R W Webb control the company by virtue of their shareholding and operational decision making.