REGISTERED NUMBER: 04521280 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

Wright Vigar Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

N M Roberts

J P Sewell

K M Shaw

M D Chadwick

P G L Colcomb

D L Thompson

A Voakes

D C Goodall

S L Newman

SECRETARY:

K M Shaw

REGISTERED OFFICE:

15 Newland

Lincoln

Lincolnshire

LN1 1XG

REGISTERED NUMBER:

04521280 (England and Wales)

AUDITORS:

TWP Accounting LLP

Chartered Accountants & Statutory Auditors

The Old Rectory

Church Street

Weybridge

Surrey

KT13 8DE

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The 2025 year saw a continuation of the growth across the organisation, with all offices and regions performing very well. Previous acquisitions of the Nottingham, Newark and Mansfield offices have been fully integrated into the business and our independent ownership and 'people focus' allow us to stand out from our competitors in all our key locations.

We firmly believe that people are at the heart of our business and we have invested heavily in training and professional development across all our team. This combined with a desire to adapt and embrace advances in technology leave us in the strongest position possible to handle future changes coming to the industry.

PRINCIPAL RISKS AND UNCERTAINTIES

The key risks affecting the company are set out below:

Regulatory risk

Government and regulatory changes may affect the need or level of desire for some of our services, however we position ourself to be able to adapt to changing times and to offer the advice that our clients seek.

Legal risk

The nature of some elements of our services require giving professional opinions, whether that be on tax matters or audit assignments. As always, the risk remains that these opinions may be open to challenge. Sufficient insurance is maintained to mitigate the potential threat of any challenges, and our regard for the highest quality of service is paramount throughout our organisation.

Employee risk

The success of the business is fundamentally built on the team who provide the services. A drop in the standard, or a reduction in the number, of employees could have a direct effect on the ability to service our clients. To counter this, we invest heavily in the training of team members at all levels, along with a policy of recruiting the best talent locally to each office. We are fortunate that our reputation within our sector is very strong and so recruitment is not a limiting factor to our growth aspirations.

BUSINESS OUTLOOK

We continue to focus on our service offerings and the delivery of high quality advice to all our clients. We remain dedicated to our strategy of being the 'Trusted Advisor'', delivering a personal approach with leading expertise.

The growth in P/E backed firms within our sector continues, however we are committed to being independently owned as it allows us to grow with our clients and offer a tailored approach to our services. As one of the leading independently owned accountancy practices in the East Midlands, we are noticing the movement of team members and clients away from P/E back consolidations, and we believe we are perfectly positioned to service this expanding client base.

ANALYSIS OF KPI'S

Following the full integration of new offices our turnover has increased to £12.769m (2024: £11.440m). This reflects the hard work of the team in both maintaining but also growing its client base.

We are also pleased to report that our employee head count has continued to grow, and our Balance sheet remains very strong. Our net assets have increased over the prior year and which include adequate cash reserves available to reinvest into the business or to fund new acquisitions.

ON BEHALF OF THE BOARD:

K M Shaw - Director

18 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of services as chartered accountants and business advisers.

DIVIDENDS

Dividends totalling £240k and £557k were paid on 30 September 2024 and 27 March 2025 respectively.

The total dividend distribution for year ended 31 March 2025 will be £797k.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

N M Roberts

J P Sewell

K M Shaw

M D Chadwick

P G L Colcomb

D L Thompson

A Voakes

Other changes in directors holding office are as follows:

D C Goodall - appointed 1 April 2024

S L Newman - appointed 1 October 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, TWP Accounting LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

K M Shaw - Director

18 December 2025

Opinion

We have audited the financial statements of Wright Vigar Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Obtain an understanding of the policies and procedures management has in place to detect and prevent fraud and non-compliance with laws and regulations.

- Enquire of management any cases of actual or suspected fraud and non-compliance with laws and regulations.

- Enquire of management and those charged with governance around actual and potential litigation and claims.

- Reviewing minutes of meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Assess the key risk areas within the financial statements which are susceptible to fraud or error and design our audit approach thereon.

- Perform substantive tests on a sample of transactions throughout the financial statements to ensure that no material errors have been identified.

- Perform cut off tests on a sample of transactions to ensure income has been accounted for in the correct period.

- Review of after year end information to ensure expenditure have been accounted for in the correct period.

- Perform analytical review procedures to identify any irregularities and investigation thereon.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters

The financial statements of the Company for the year ended 31 March 2024 were not audited. The comparatives presented as part of these financial statements of the Company have not been audited as a result.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Hawksley FCA, MAAT, CTA (Senior Statutory Auditor)

for and on behalf of TWP Accounting LLP

Chartered Accountants & Statutory Auditors

The Old Rectory

Church Street

Weybridge

Surrey

KT13 8DE

18 December 2025

TURNOVER

12,769

11,440

Cost of sales

5,786

5,415

GROSS PROFIT

6,983

6,025

Administrative expenses

4,576

4,040

2,407

1,985

Other operating income

9

1

OPERATING PROFIT

5

2,416

1,986

Interest receivable and similar income

2

2

2,418

1,988

Interest payable and similar expenses

6

-

3

PROFIT BEFORE TAXATION

2,418

1,985

Tax on profit

7

659

569

PROFIT FOR THE FINANCIAL YEAR

1,759

1,416

PROFIT FOR THE YEAR

1,759

1,416

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,759

1,416

FIXED ASSETS

Intangible assets

9

833

1,003

Tangible assets

10

262

187

1,095

1,190

CURRENT ASSETS

Stocks

11

689

695

Debtors

12

2,435

2,276

Cash at bank

871

689

3,995

3,660

CREDITORS

Amounts falling due within one year

13

2,292

2,493

NET CURRENT ASSETS

1,703

1,167

TOTAL ASSETS LESS CURRENT LIABILITIES

2,798

2,357

PROVISIONS FOR LIABILITIES

16

-

21

NET ASSETS

2,798

2,336

CAPITAL AND RESERVES

Called up share capital

17

1

1

Capital redemption reserve

18

1

1

Retained earnings

18

2,796

2,334

SHAREHOLDERS' FUNDS

2,798

2,336

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

K M Shaw - Director

J P Sewell - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£'000

£'000

£'000

£'000

Balance at 1 April 2023

1

2,659

-

2,660

Changes in equity

Dividends

-

(841

)

-

(841

)

Total comprehensive income

-

1,416

1

1,417

Share repurchase

-

(900

)

-

(900

)

Balance at 31 March 2024

1

2,334

1

2,336

Changes in equity

Dividends

-

(797

)

-

(797

)

Total comprehensive income

-

1,759

-

1,759

Share repurchase

-

(500

)

-

(500

)

Balance at 31 March 2025

1

2,796

1

2,798

Cash flows from operating activities

Cash generated from operations

1

2,675

2,237

Interest paid

-

(3

)

Tax paid

(585

)

(488

)

Net cash from operating activities

2,090

1,746

Cash flows from investing activities

Purchase of intangible fixed assets

(11

)

(2

)

Purchase of tangible fixed assets

(160

)

(83

)

Sale of tangible fixed assets

1

1

Interest received

2

2

Net cash from investing activities

(168

)

(82

)

Cash flows from financing activities

Amount introduced by directors

55

549

Amount withdrawn by directors

(498

)

(2

)

Share buyback

(500

)

(900

)

Equity dividends paid

(797

)

(841

)

Net cash from financing activities

(1,740

)

(1,194

)

Increase in cash and cash equivalents

182

470

Cash and cash equivalents at beginning of year

2

689

219

Cash and cash equivalents at end of year

2

871

689

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

(Unaudited)

£'000

£'000

Profit before taxation

2,418

1,985

Depreciation charges

265

328

Profit on disposal of fixed assets

(1

)

(1

)

Finance costs

-

3

Finance income

(2

)

(2

)

2,680

2,313

Decrease/(increase) in stocks

6

(89

)

(Increase)/decrease in trade and other debtors

(122

)

171

Increase/(decrease) in trade and other creditors

111

(158

)

Cash generated from operations

2,675

2,237

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£'000

£'000

Cash and cash equivalents

871

689

Year ended 31 March 2024

31.3.24

1.4.23

(Unaudited)

£'000

£'000

Cash and cash equivalents

689

219

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£'000

£'000

£'000

Net cash

Cash at bank

689

182

871

689

182

871

Total

689

182

871

1.	STATUTORY INFORMATION

Wright Vigar 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

Turnover

Turnover represents amounts recoverable from clients for professional services provided during the year, excluding value added tax. The company recognises revenue when the amount can be reliably measured and it is probable that economic benefits will flow.

Services provided to clients, which at the financial reporting date have not been billed, are recognised as Work in Progress.

Revenue recognised in this manner is based on an assessment of the fair value of the services provided at the financial reporting date reflecting the stage of completion of the service rendered. Stage of completion is measured by reference to the sale value of work done to date, after taking into account historical recovery rates.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of eight 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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer hardware

-

33% on cost

Work in progress

Work in progress represents the full value of chargeable work done at the year end that is subsequently billable to clients.

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.

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.

Pension costs and other post-retirement benefits

The company operates a stakeholder pension scheme for its employees. Contributions payable for the year are charged in the profit and loss account.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described at above, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other factors that are considered to be 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 in 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 company believes that the estimates and judgements in relation to the useful economic life of goodwill and the impairment of trade debtors have the most significant impact on the annual results.

Useful economic life of goodwill

Goodwill, being the amount paid on aquisition of a business or fees is amortised over an estimated useful economic life of 8 years. The useful life is estimated taking into account client retention rates, breadth of service, brand name, regulatory environment, market share, past performance and percentage of recurring fee income.

Impairment of trade debtors

The company makes an estimate of the recoverable value of trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

4.	EMPLOYEES AND DIRECTORS

2025

2024

(Unaudited)

£'000

£'000

Wages and salaries

5,667

5,380

Social security costs

517

491

Other pension costs

841

668

7,025

6,539

The average number of employees during the year was as follows:

2025

2024

(Unaudited)

Fee earners

161

154

Support

31

27

192

181

2025

2024

(Unaudited)

£

£

Directors' remuneration

234,742

276,834

Directors' pension contributions to money purchase schemes

460,990

299,700

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

9

8

Information regarding the highest paid director is as follows:

2025

2024

(Unaudited)

£

£

Emoluments etc

70,500

109,034

Pension contributions to money purchase schemes

9,000

8,876

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

(Unaudited)

£'000

£'000

Other operating leases

332

300

Depreciation - owned assets

85

97

Profit on disposal of fixed assets

(1

)

(1

)

Goodwill amortisation

181

231

Auditors' remuneration

10

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

(Unaudited)

£'000

£'000

Interest payable

-

3

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

(Unaudited)

£'000

£'000

Current tax:

UK corporation tax

718

575

Deferred tax

(59

)

(6

)

Tax on profit

659

569

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

(Unaudited)

£'000

£'000

Profit before tax

2,418

1,985

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

605

496

Effects of:

Expenses not deductible for tax purposes

9

6

Depreciation in excess of capital allowances

38

71

Other timing differences

7

(4

)

Total tax charge

659

569

8.

DIVIDENDS

2025

2024

(Unaudited)

£'000

£'000

Ordinary C1 - N shares of £0.01 each

Final

557

561

Interim

240

280

797

841

9.	INTANGIBLE FIXED ASSETS

Goodwill

£'000

COST

At 1 April 2024

1,713

Additions

11

At 31 March 2025

1,724

AMORTISATION

At 1 April 2024

710

Amortisation for year

181

At 31 March 2025

891

NET BOOK VALUE

At 31 March 2025

833

At 31 March 2024

1,003