Company registration number 08002796 (England and Wales)
FENN, WRIGHT AND MANSON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
FENN, WRIGHT AND MANSON LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
FENN, WRIGHT AND MANSON LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£'000
£'000
£'000
£'000
Current assets
Debtors
4
10
11
Cash at bank and in hand
19
115
29
126
Creditors: amounts falling due within one year
5
(12,269)
(12,284)
Net current liabilities
(12,240)
(12,158)
Capital and reserves
Called up share capital
-
0
-
0
Share premium account
510
510
Profit and loss reserves
(12,750)
(12,668)
Total equity
(12,240)
(12,158)

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 November 2025 and are signed on its behalf by:
D A Dooley
Director
Company registration number 08002796 (England and Wales)
FENN, WRIGHT AND MANSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Fenn, Wright and Manson Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 7a, No 1 The Courtyard Earl Road, Cheadle Hulme, Cheadle, Cheshire, SK8 6GN.

The principal place of business is Perimeter Road, Knowsley Industrial Park, Liverpool, L33 7SZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £'000.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

1.3
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the co mpany and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when goods are delivered to the customer and when

all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

FENN, WRIGHT AND MANSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

FENN, WRIGHT AND MANSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from related undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
3
FENN, WRIGHT AND MANSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
3
Intangible fixed assets
Goodwill
£'000
Cost
At 1 March 2024 and 28 February 2025
1,902
Amortisation and impairment
At 1 March 2024 and 28 February 2025
1,902
Carrying amount
At 28 February 2025
-
0
At 29 February 2024
-
0
4
Debtors
2025
2024
Amounts falling due within one year:
£'000
£'000
Trade debtors
1
1
Other debtors
9
10
10
11
5
Creditors: amounts falling due within one year
2025
2024
£'000
£'000
Trade creditors
47
61
Taxation and social security
4
1
Other creditors
12,218
12,222
12,269
12,284
FENN, WRIGHT AND MANSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
6
Related party transactions

Included within other creditors is a balance of £12,215,000 (2024: £12,215,000) owed to related parties by virtue of control and common ownership. These loans have no fixed repayment terms, are not secured and are interest free.

At the balance sheet date an amount of £2,130,000 (2024: £2,130,000) was due to Maxine Adams. This balance is interest free, has no fixed repayment terms and is not secured.

A balance of £3,025,000 (2024: £3,025,000) was due to John Hargreaves at the balance sheet date. This balance is interest free, has no fixed repayment terms and is not secured.

At the balance sheet date an amount of £7,060,000 (2023: £7,060,000) was due to Hargreaves Trustee Limited, in its capacity as trustee of Class Fund A of "The Hargreaves Family Unit Trust." This balance is interest free, has no fixed repayment terms and is not secured.

All of the above balances are shown in creditors less than one year.

At the balance sheet date, an amount of £607 (2024: nil) was due from Wolsey Limited, a related company. The balance is included in other debtors.

7
Parent company

The parent undertaking is Hargreaves Trustee Limited a company incorporated in Jersey. The ultimate controlling party is the Hargreaves family.

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