REGISTERED NUMBER: 04101382 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Western Commodities Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A Stoker

P Collier

REGISTERED OFFICE:

Unit 13

South View Estate

Willand

Cullompton

Devon

EX15 2QW

REGISTERED NUMBER:

04101382 (England and Wales)

ACCOUNTANTS:

Plunkett Yates Limited

1 Charlotte Mews

Pavilion Place

Exeter

Devon

EX2 4HA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,289,306

1,127,612

1,289,306

1,127,612

CURRENT ASSETS

Stocks

1,498,874

886,451

Debtors

6

2,208,135

1,568,273

Cash at bank and in hand

186,035

21,343

3,893,044

2,476,067

CREDITORS

Amounts falling due within one year

7

3,766,251

1,887,395

NET CURRENT ASSETS

126,793

588,672

TOTAL ASSETS LESS CURRENT LIABILITIES

1,416,099

1,716,284

CREDITORS

Amounts falling due after more than one year

8

(156,793

)

(217,419

)

PROVISIONS FOR LIABILITIES

-

(46,061

)

NET ASSETS

1,259,306

1,452,804

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,259,305

1,452,803

SHAREHOLDERS' FUNDS

1,259,306

1,452,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 17 December 2025 and were signed on its behalf by:

R A Stoker - Director

1.	STATUTORY INFORMATION

Western Commodities 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the purchase of one business in 2009 and a further hive-up of a business in 2011 is being amortised over its remaining useful life of 10 years on each respective transaction (previously 5 years).

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Long leasehold

-

10% on cost

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance lease, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are hire purchase contracts, are capitalised in the balance sheet and are depreciated over their useful economic lives. The capital elements of future obligations under the leases and hire purchase contracts are included as liabilities in the balance sheet.

The interest elements of the rental obligations are charged in the profit and loss account over the periods of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding.

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the term.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

682,775

AMORTISATION

At 1 April 2024

and 31 March 2025

682,775

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

460,031

2,338,190

117,165

18,500

2,933,886

Additions

121,302

317,207

7,412

-

445,921

Disposals

-

(32,900

)

-

-

(32,900

)

At 31 March 2025

581,333

2,622,497

124,577

18,500

3,346,907

DEPRECIATION

At 1 April 2024

309,764

1,377,193

100,817

18,500

1,806,274

Charge for year

30,907

227,573

9,571

-

268,051

Eliminated on disposal

-

(16,724

)

-

-

(16,724

)

At 31 March 2025

340,671

1,588,042

110,388

18,500

2,057,601

NET BOOK VALUE

At 31 March 2025

240,662

1,034,455

14,189

-

1,289,306

At 31 March 2024

150,267

960,997

16,348

-

1,127,612

As stated above, the Depreciation charge to the Profit and Loss Account for the year was £268,051 (2024: £221,514).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

1,643,743

1,118,020

Other debtors

564,392

450,253

2,208,135

1,568,273

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

1,141,314

648,561

Hire purchase contracts

60,626

114,637

Trade creditors

1,927,857

631,187

Taxation and social security

37,245

18,238

Other creditors

599,209

474,772

3,766,251

1,887,395

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

156,793

217,419

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

1,141,314

648,561

The bank loans and overdrafts are secured against assets of the group and company.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 March 2025 the company owed Mr R Stoker £409,537 (2024: £260,300).

11.	RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £538,838 (2024: £398,321) due from companies under common control of one of the directors.The loans are interest free and repayable on demand.