Company No: 11793323 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Intangible assets	4	0		1,798
Tangible assets	5	783,677		871,346
		783,677		873,144
Current assets
Stocks		208,691		334,122
Debtors	6	226,412		414,720
Cash at bank and in hand	7	466,232		313,848
		901,335		1,062,690
Creditors: amounts falling due within one year	8	( 1,212,949)		( 1,508,014)
Net current liabilities		(311,614)		(445,324)
Total assets less current liabilities		472,063		427,820
Creditors: amounts falling due after more than one year	9	( 134,365)		( 187,747)
Provision for liabilities		( 107,848)		( 120,548)
Net assets		229,850		119,525
Capital and reserves
Called-up share capital		700		700
Profit and loss account		229,150		118,825
Total shareholders' funds		229,850		119,525

For the financial year ending 31 January 2025 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of R L Whear and Son Limited (registered number: 11793323) were approved and authorised for issue by the Board of Directors on 25 October 2025. They were signed on its behalf by:

Mrs S Whear Director		Mr S Whear Director
Mr P Whear Director		Mr P Whear Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R L Whear and Son Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Polglaze Barton Farm, Liskey Hill, Perranporth,, Cornwall, TR6 0BB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

Land and buildings used by the company has been incorrectly included in the company balance sheet. This has been corrected in the previous year through the directors loan accounts.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

1 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	4 years straight line
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

		As previously reported		Adjustment		As restated
Year ended 31 January 2024		£		£		£
Tangible Assets		1,505,954		(1,136,890)		369,064
Other Debtors		31,219		51,687		82,906
Other Creditors due under 1 year		311,641		915,276		1,226,917
Other Creditors due over 1 year		2,000,042		(2,000,042)		0

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	14		13

4. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 February 2024	1,798		1,798
At 31 January 2025	1,798		1,798
Accumulated amortisation
At 01 February 2024	0		0
Charge for the financial year	1,798		1,798
At 31 January 2025	1,798		1,798
Net book value
At 31 January 2025	0		0
At 31 January 2024	1,798		1,798

5. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 February 2024	419,391		953,652		1,047,724		1,747		2,422,514
Additions	0		53,028		2,000		812		55,840
At 31 January 2025	419,391		1,006,680		1,049,724		2,559		2,478,354
Accumulated depreciation
At 01 February 2024	50,327		683,057		817,023		761		1,551,168
Charge for the financial year	16,776		68,455		57,925		353		143,509
At 31 January 2025	67,103		751,512		874,948		1,114		1,694,677
Net book value
At 31 January 2025	352,288		255,168		174,776		1,445		783,677
At 31 January 2024	369,064		270,595		230,701		986		871,346
Leased assets included above:
Net book value
At 31 January 2025	0		75,262		95,641		0		170,902
At 31 January 2024	0		39,282		127,521		0		166,803

6. Debtors

	2025		2024
	£		£
Trade debtors	180,562		331,814
Other debtors	45,850		82,906
	226,412		414,720

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	466,232		313,848

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	19,366		17,791
Trade creditors	64,130		91,612
Taxation and social security	136,049		81,404
Obligations under finance leases and hire purchase contracts	62,319		90,290
Other creditors	931,085		1,226,917
	1,212,949		1,508,014

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	112,961		133,902
Obligations under finance leases and hire purchase contracts	21,404		53,845
	134,365		187,747

There are no amounts included above in respect of which any security has been given by the small entity.