Company No: 00669760 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	J S Goring
	O C Miles
	M T Wyman (Resigned 18 July 2025)
	A J Wyman (Resigned 18 July 2025)
	J Wyman (Resigned 18 July 2025)

Secretary

A J Wyman

Registered office	10 Market Street
	Sandwich
	Kent
	CT13 9DA
	United Kingdom

Company number

00669760 (England and Wales)

Accountant	Kreston Reeves LLP
	Innovation House
	Floor 2 Ramsgate Road
	Sandwich
	Kent
	CT13 9FF

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	10,220		13,116
		10,220		13,116
Current assets
Stocks		1,200		1,200
Debtors	4	35,093		79,552
Cash at bank and in hand		33,051		41,590
		69,344		122,342
Creditors: amounts falling due within one year	5	( 37,609)		( 50,821)
Net current assets		31,735		71,521
Total assets less current liabilities		41,955		84,637
Provision for liabilities	6	( 2,100)		( 2,800)
Net assets		39,855		81,837
Capital and reserves
Called-up share capital	7	2,000		2,000
Profit and loss account		37,855		79,837
Total shareholders' funds		39,855		81,837

For the financial year ending 31 July 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 Wyman Electricals Ltd (registered number: 00669760) were approved and authorised for issue by the Board of Directors on 17 April 2026. They were signed on its behalf by:

J S Goring Director

O C Miles 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

Wyman Electricals Ltd (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 10 Market Street, Sandwich, Kent, CT13 9DA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

Leasehold improvements	5 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	20 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		8

3. Tangible assets

	Leasehold improve- ments		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 August 2024	2,750		32,365		22,774		57,889
At 31 July 2025	2,750		32,365		22,774		57,889
Accumulated depreciation
At 01 August 2024	835		23,312		20,626		44,773
Charge for the financial year	96		2,263		537		2,896
At 31 July 2025	931		25,575		21,163		47,669
Net book value
At 31 July 2025	1,819		6,790		1,611		10,220
At 31 July 2024	1,915		9,053		2,148		13,116

4. Debtors

	2025		2024
	£		£
Trade debtors	16,526		29,489
Amounts owed by directors	0		10,020
Amounts recoverable on contracts	15,723		34,913
Prepayments	2,844		3,216
CIS suffered	0		1,914
	35,093		79,552

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	12,796		11,196
Amounts owed to directors	3,180		1,200
Accruals	4,626		5,650
Corporation tax	4,806		15,500
Other taxation and social security	11,927		16,645
Other creditors	274		630
	37,609		50,821

6. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 2,800)		( 4,747)
Credited to the Statement of Income and Retained Earnings	700		1,947
At the end of financial year	( 2,100)		( 2,800)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 2,100)		( 2,800)

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2,000 Ordinary shares of £ 1.00 each	2,000		2,000

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	4,800		4,800

9. Related party transactions

The company trades from 10 Market Street, Sandwich. The freehold which is owned by some of the directors in a property partnership. The rent payable in respect of the property during the year amounted to £4,800.

Included in other creditors is a loan from the directors of £3.180, (2024 - £1,200). The loans are interest free and strictly repayable on demand.

10. Ultimate controlling party

The company is not under the control of any one individual.