W. Ferguson Limited


Directors	FERGUSON, Wayne
	HANLEY, Ryan James George
	WHARTON, Abbie Lee


Company Secretary	FERGUSON, Sheila


Registered Address	Sanden Crest, Abbeytown
	Wigton
	Cumbria
	CA7 4SP


Registered Number	05209371 (England and Wales)

Notes to the Financial Statements
for the year ended 31 May 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income.

Depreciation is provided on all tangible fixed assets as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		3

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 June 24	22,852	80,100	509	9,358	112,819
At 31 May 25	22,852	80,100	509	9,358	112,819
Depreciation and impairment
At 01 June 24	8,713	69,498	487	7,033	85,731
Charge for year	2,121	2,651	4	921	5,697
At 31 May 25	10,834	72,149	491	7,954	91,428
Net book value
At 31 May 25	12,018	7,951	18	1,404	21,391
At 31 May 24	14,139	10,602	22	2,325	27,088

4.	Investment property


		£
	Fair value at 01 June 24	110,000
	At 31 May 25	110,000

5.	Fixed asset investments
	Fixed asset investments relate to shares held in subsidiaries.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 June 24	1	1
At 31 May 25	1	1
Net book value
At 31 May 25	1	1
At 31 May 24	1	1

	Notes
	¹Investments in group undertakings and participating interests

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,885	924
Amounts owed by group undertakings	5,357	-
Other debtors	5,859	4,163
Prepayments and accrued income	14,275	4,639
Total	27,376	9,726

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	25,632	23,466
Bank borrowings and overdrafts	39,306	5,514
Amounts owed to related parties	-	6,175
Taxation and social security	1,938	6,046
Other creditors	84,106	81,926
Accrued liabilities and deferred income	4,049	71,346
Total	155,031	194,473

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	22,516	28,030
Total	22,516	28,030


	Bank borrowings repayable after more than five years amount to £22,516 (2024 - £28,030).

9.	Provisions for liabilities
	The provision for deferred tax is made up of £5,348 (2024 - £6,700) in respect of accelerated capital allowances and £2,348 (2024 - £Nil) in respect of trade losses carried forward.

	2025	2024
	£	£
Net deferred tax liability (asset)	3,000	6,700
Total	3,000	6,700

10.	Directors advances, credits and guarantees
	On 1 June 2024 a Director owed the Company £Nil. During the period this director was advanced £4,580 and repaid £4,580. As at 31 May 2025 this Director owed the Company £Nil. No interest was charged on this loan. On 1 June 2024 a Director owed the Company £Nil. During the period this director was advanced £21,060 and repaid £21,060. As at 31 May 2025 this Director owed the Company £Nil. Interest of £125 was charged on this loan.

10.

Directors advances, credits and guarantees

On 1 June 2024 a Director owed the Company £Nil. During the period this director was advanced £4,580 and repaid £4,580. As at 31 May 2025 this Director owed the Company £Nil. No interest was charged on this loan.

On 1 June 2024 a Director owed the Company £Nil. During the period this director was advanced £21,060 and repaid £21,060. As at 31 May 2025 this Director owed the Company £Nil. Interest of £125 was charged on this loan.

11.	Related party transactions
	During the year the director had a loan account with the company. At the balance sheet date the company owed the director £708 (2024 - £295). No interest was charged on this loan and the loan is repayable on demand. During the year the director had a loan account with the company. At the balance sheet date the company owed the director £82,340 (2024 - £79,670). No interest was charged on this loan and the loan is repayable on demand. During the year the director had a loan account with the company. At the balance sheet date the company owed the director £1,058 (2024 - £1,961). No interest was charged on this loan and the loan is repayable on demand.

11.

Related party transactions

During the year the director had a loan account with the company. At the balance sheet date the company owed the director £708 (2024 - £295).  No interest was charged on this loan and the loan is repayable on demand.

During the year the director had a loan account with the company. At the balance sheet date the company owed the director £82,340 (2024 - £79,670).  No interest was charged on this loan and the loan is repayable on demand.

During the year the director had a loan account with the company. At the balance sheet date the company owed the director £1,058 (2024 - £1,961).  No interest was charged on this loan and the loan is repayable on demand.

12.	Parent-subsidiary relationships
	The company, and the group headed by it, qualify as a small group and as such the parent and the group are exempt from producing group accounts.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		21,391		27,088
Investments	5		1		1
Investment property	4		110,000		110,000
			131,392		137,089
Current assets
Stocks		231,410		164,047
Debtors	6	27,376		9,726
Cash at bank and on hand		227,742		422,102
		486,528		595,875
Creditors amounts falling due within one year	7	(155,031)		(194,473)
Net current assets (liabilities)			331,497		401,402
Total assets less current liabilities			462,889		538,491
Creditors amounts falling due after one year	8		(22,516)		(28,030)
Provisions for liabilities	9		(3,000)		(6,700)
Net assets			437,373		503,761
Capital and reserves
Called up share capital			100		100
Profit and loss account			437,273		503,661
Shareholders' funds			437,373		503,761