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Registered number: 00615971
WAYTE BROS.LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 OCTOBER 2025
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WAYTE BROS.LIMITED
REGISTERED NUMBER: 00615971
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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WAYTE BROS.LIMITED
REGISTERED NUMBER: 00615971
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2025
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 March 2026.
The notes on pages 5 to 13 form part of these financial statements.
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WAYTE BROS.LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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Comprehensive income for the year
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Total comprehensive income for the year
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Comprehensive income for the year
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Reserve movement relating to hive up of subsidiary trade
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Total comprehensive income for the year
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The notes on pages 5 to 13 form part of these financial statements.
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WAYTE BROS.LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025
Cash flows from operating activities
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Profit for the financial year
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Amortisation of intangible assets
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Depreciation of tangible assets
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Decrease/(increase) in amounts owed by groups
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Increase in amounts owed to groups
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Net cash generated from operating activities
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Cash flows from investing activities
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Purchase of fixed asset investments
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Net cash from investing activities
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Net increase/(decrease) in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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Cash and cash equivalents at the end of year
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Cash and cash equivalents at the end of year comprise:
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The notes on pages 5 to 13 form part of these financial statements.
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Wayte Bros. Limited is a private company limited by shares and incorporated in England under registered number 00615971. Its registered office is at 3 - 5 Glebe Street, Stoke-on-Trent, Staffordshire, ST4 1HS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company is exempt from the requirement to prepare consolidated financial statements by virtue of Section 399 of the Companies Act 2006, as it and its subsidiary undertaking constitute a small group.
The directors have applied the going concern basis in the financial statements. The Company has substantial reserves and available cash sufficient to operate the business for over two years without any income at all.
Turnover represents the commission and fees earned for booking travel components and arrangements, net of value added tax and discounts, recognised on the date of booking basis.
Gross Retail Turnover ("GRT") - GRT, stated net of value added tax, does not represent the Company's statutory turnover as the company in the main acts as agent or cash collector, GRT represents the price at which goods and services have been sold to the consumer by the principal. Applicable Note 23 of FRS 102 requires the statutory turnover to be the net commission earned.
Trade debtors still represent gross amounts receivable in respect of travel arrangements and holiday accommodation sales and trade creditors still represent gross amounts payable in respect of travel arrangements and holiday accommodation sales.
Interest income is recognised in profit or loss using the effective interest method.
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Revaluation of tangible fixed assets
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Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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The average monthly number of employees, including the directors, during the year was as follows:
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Average number of employees
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Goodwill on hive up of subsidiary
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Charge for the year on owned assets
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Goodwill arose on the hive up of the business of C. J. Leigh Travel Limited, 100% owned subsidiary, on 1 November 2024. This goodwill is calculated from the date of acquisition of the subsidiary and amortised in equal annual instalments over its estimated economic life of 5 years.
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Charge for the year on owned assets
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The freehold property is held at 3-5 Glebe Street, Stoke-on-Trent, ST4 1HS.
This propery was revalued on 18 August 2023 by Lowe Surveyors Limited, 7 Greenfield Road, Stafford, ST17 0PU.
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The net book value of land and buildings may be further analysed as follows:
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Investments in subsidiary companies
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Amounts owed by group undertakings
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Cash and cash equivalents
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Allotted, called up and fully paid
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38,400 (2024 - 38,400) A Ordinary shares of £1.00 each
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41,600 (2024 - 41,600) B Ordinary shares of £1.00 each
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WAYTE BROS.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Profit and loss account
The profit and loss account represents the net distributable reserves of the company at the date of the statement of financial position.
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Commitments under operating leases
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The Company had no commitments under non-cancellable operating leases at the reporting date.
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At 31st October 2025 the Company had £1,069,955 (2024: £1,260,597) of payments due to the International Air Transport Association (IATA) for tickets issued in the month of October 2025.
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Related party transaction
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Associated company registered in Jersey in which the director C D Morris is also a director.
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Flight sales received/(paid)
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Management charges received/(paid)
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Amount due from/(to) the related party - included within debtors/(creditors)under amounts owed (to)/from assoicated undertakings.
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During the year the business of C.J. Leigh Travel Limited, 100% owned subsidiary was hived up. C.J. Leigh Travel Limited will be wound up in due course.
The Company is controlled by one of the directors, C D Morris, by virtue of his majority ownership of the issued share capital.
The auditors' report on the financial statements for the year ended 31 October 2025 was unqualified.
The audit report was signed on 31 March 2026 by Ms. N A Spoor FCA FCCA (Senior Statutory Auditor) on behalf of White Hart Associates (London) Limited.
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