Wheatlands Fabrication Ltd.

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Unaudited Financial Statements	4 to 8

Wheatlands Fabrication Ltd.

Company Information

Directors

Mr K J Hooper Mrs S L Hooper

Registered office

6 Oaklands Court Tiverton Way Tiverton Devon EX16 6TG

Accountants

Withers Steele Limited Chartered Accountants6 Oaklands Court Tiverton Way Tiverton Devon EX16 6TG

Wheatlands Fabrication Ltd.

(Registration number: 08195318)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	88,111	72,603
Current assets
Stocks	5	78,252	152,531
Debtors	6	98,754	-
Cash at bank and in hand		87,734	106,753
		264,740	259,284
Creditors: Amounts falling due within one year	7	(178,071)	(208,223)
Net current assets		86,669	51,061
Total assets less current liabilities		174,780	123,664
Provisions for liabilities		(22,028)	(15,349)
Net assets		152,752	108,315
Capital and reserves
Called up share capital		100	100
Retained earnings		152,652	108,215
Shareholders' funds		152,752	108,315

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 May 2026 and signed on its behalf by:
 

......................................... Mr K J Hooper Director

Wheatlands Fabrication Ltd.

Statement of Changes in Equity for the Year Ended 31 August 2025

	Share capital £	Retained earnings £	Total £
At 1 September 2024	100	108,215	108,315
Profit for the year	-	45,437	45,437
Dividends	-	(1,000)	(1,000)
At 31 August 2025	100	152,652	152,752

	Share capital £	Retained earnings £	Total £
At 1 September 2023	100	70,496	70,596
Profit for the year	-	41,969	41,969
Dividends	-	(4,250)	(4,250)
At 31 August 2024	100	108,215	108,315

Wheatlands Fabrication Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Oaklands Court
Tiverton Way
Tiverton
Devon
EX16 6TG
UK

These financial statements were authorised for issue by the Board on 13 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Wheatlands Fabrication Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Wheatlands Fabrication Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Wheatlands Fabrication Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 September 2024	2,811	82,693	64,828	150,332
Additions	-	44,868	-	44,868
Disposals	-	(30,345)	-	(30,345)
At 31 August 2025	2,811	97,216	64,828	164,855
Depreciation
At 1 September 2024	2,811	50,090	24,828	77,729
Charge for the year	-	10,559	6,000	16,559
Eliminated on disposal	-	(17,544)	-	(17,544)
At 31 August 2025	2,811	43,105	30,828	76,744
Carrying amount
At 31 August 2025	-	54,111	34,000	88,111
At 31 August 2024	-	32,603	40,000	72,603

5

Stocks

	2025 £	2024 £
Work in progress	78,252	152,531

6

Debtors

Current	2025 £	2024 £
Trade debtors	96,185	-
Other debtors	2,569	-
	98,754	-

Wheatlands Fabrication Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	54,739	86,493
Taxation and social security	5,981	16,722
Accruals and deferred income	1,560	1,828
Other creditors	115,791	103,180
	178,071	208,223