L.R. Wyard-Scott Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01076131

L.R. Wyard-Scott Limited

Unaudited financial statements

30 November 2025

L.R. Wyard-Scott Limited

Statement of financial position

30 November 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		145,456		149,499

Current assets

Stocks		1,000,073	809,446
Debtors	6	80,526	66,356
Cash at bank and in hand		94,750	82,742
		-----------	---------
		1,175,349	958,544

Creditors: Amounts falling due within one year	7	( 798,480)		( 574,692)
		-----------		---------
Net current assets			376,869		383,852
			---------		---------
Total assets less current liabilities			522,325		533,351

Creditors: Amounts falling due after more than one year	8		( 122,090)		( 144,915)

Provisions

Taxation including deferred tax	( 32,847)	( 33,553)
	---------	---------
Net assets	367,388	354,883
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	367,288	354,783
	---------	---------
Shareholders funds	367,388	354,883
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

L.R. Wyard-Scott Limited

Statement of financial position (continued)

30 November 2025

These financial statements were approved by the board of directors and authorised for issue on 5 May 2026 , and are signed on behalf of the board by:

A C Taber

Director

Company registration number: 01076131

L.R. Wyard-Scott Limited

Notes to the financial statements

Year ended 30 November 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Poplar Farm High Common Road, North Lopham, Diss, IP22 2HP. The company's trading address is High Road, Roydon, Diss, IP22 5RD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	10% reducing balance
Plant and machinery	-	10% reducing balance
Motor vehicles	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at transaction price where there are no stated interest or repayment terms, otherwise they are measured at amortised cost. Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of employees during the year was 12 (2024: 13 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 December 2024	65,542	63,093	85,378	214,013
Additions	18,200	1,595	5,589	25,384
Disposals	–	–	( 23,622)	( 23,622)
	-------	-------	-------	---------
At 30 November 2025	83,742	64,688	67,345	215,775
	-------	-------	-------	---------
Depreciation
At 1 December 2024	11,883	24,052	28,579	64,514
Charge for the year	5,975	4,031	10,391	20,397
Disposals	–	–	( 14,592)	( 14,592)
	-------	-------	-------	---------
At 30 November 2025	17,858	28,083	24,378	70,319
	-------	-------	-------	---------
Carrying amount
At 30 November 2025	65,884	36,605	42,967	145,456
	-------	-------	-------	---------
At 30 November 2024	53,659	39,041	56,799	149,499
	-------	-------	-------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	45,962	40,683
Other debtors	34,564	25,673
	-------	-------
	80,526	66,356
	-------	-------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	22,717	27,760
Trade creditors	167,061	166,875
Amounts owed to group undertakings	373,788	200,184
Social security and other taxes	62,946	41,798
Other creditors	171,968	138,075
	---------	---------
	798,480	574,692
	---------	---------

Included in creditors are bank loans of £16,051 (2024: £17,760) which are secured by the company. Included in other creditors is a hire purchase liability of £nil (2024: £3,017) which is secured against the asset concerned.

8. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	122,090	144,915
	---------	---------

Included in creditors are bank loans of £122,090 (2024: £138,249) which are secured by the company.

The amount due for payment after more than five years totals £53,090. The loan is payable by monthly instalments with a maturity date of December 2032, at an interest rate of base rate plus 3.8%.

9. Contingencies

An unlimited cross guarantee has been given by this company, Lopham Vehicle Services Limited and Taber Holdings Limited. The potential liability amounts to £441,496.

10. Directors' advances, credits and guarantees

Included within debtors at the year end is a directors loan account of £30,028 (2024: £21,662). The maximum overdrawn balance during the year was £46,683. Interest of £638 (2024: £604) was charged at the official rate.

11. Related party transactions

At the reporting date, the Company had an outstanding loan balance of £373,788 due to related parties by virtue of common control. The loans are interest-free, unsecured, and repayable on demand.