REGISTERED NUMBER: 00541096 (England and Wales)

Carter and Ward of Wickford Limited

Unaudited Financial Statements

for the Year Ended 30 November 2025

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

P B Carter

J M Wickham

G P Carter

L D Carter

Secretary:

P B Carter

Registered office:

Construction House

Runwell Road

Wickford

Essex

SS11 7HJ

Registered number:

00541096 (England and Wales)

Accountants:

Clay Ratnage Strevens & Hills

Chartered Accountants

Construction House, Runwell Road

Wickford

Essex

SS11 7HQ

Fixed assets

Tangible assets

4

227,654

172,254

Investment property

5

12,717,634

12,392,634

12,945,288

12,564,888

Current assets

Stock

6

17,463,929

16,279,661

Debtors

7

1,647,303

1,533,237

Cash at bank and in hand

222,304

862,491

19,333,536

18,675,389

Creditors

Amounts falling due within one year

8

1,108,596

1,083,977

Net current assets

18,224,940

17,591,412

Total assets less current liabilities

31,170,228

30,156,300

Provisions for liabilities

9

1,679,050

1,582,759

Net assets

29,491,178

28,573,541

Capital and reserves

Called up share capital

80,000

80,000

Revaluation reserve

8,054,437

7,819,561

Capital redemption reserve

20,000

20,000

Retained earnings

21,336,741

20,653,980

29,491,178

28,573,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2026 and were signed on its behalf by:

P B Carter - Director

1.	Statutory information

Carter and Ward of Wickford Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rates:

Plant and machinery

- 25% reducing balance

Motor vehicles

- 25% reducing balance

Computer equipment

- 20% - 33.33% reducing balance

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.

Investment property

Investment property is carried at fair value determined annually by the directors, having regard to professional advice taken personally, and is derived from the current market rents and investment property yields for comparable real estate, 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 Statement of comprehensive income.

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stock is assessed for impairment. If stock is 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.

Financial instruments

The company has elected to apply Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, including trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and subsequently carried at amortised cost using the effective interest method, less any impairment provision. Where an arrangement constitutes a financing transaction, whereby payment is deferred beyond normal business terms, it is measured at the present value of future receipts discounted at a market rate of interest. Discounting is omitted where the effect is immaterial.

Impairment of financial assets

Financial assets are assessed for impairment at each reporting date. An impairment loss arises where events subsequent to initial recognition indicate that estimated future cash flows have been adversely affected, and is measured as the difference between the carrying amount and the present value of future cash flows at the original effective interest rate. Where the indicators of impairment subsequently reverse, the impairment loss may be reversed up to the original carrying amount, and is recognised in profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of their contractual arrangements. An equity instrument is any contract that evidences a residual interest in the assets of the company after deduction of all its liabilities.

Basic financial liabilities, including trade and other payables and bank and other loans, are initially measured at transaction price after transaction costs, or where a financing transaction exists, at the present value of future payments discounted at a market rate of interest. Discounting is omitted where the effect is immaterial. All debt instruments, including trade payables, are subsequently carried at amortised cost using the effective interest method.

Trade payables are classified as current liabilities where payment is due within one year, and as non-current liabilities otherwise.

Derecognition of financial instruments

Financial assets are derecognised when contractual rights to future cash flows expire, are settled, or when the asset and substantially all risks and rewards of ownership are transferred to another party. Where significant risks and rewards are retained, the relevant portion continues to be recognised. Financial liabilities are derecognised when the related contractual obligations are discharged, cancelled or expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

Debtors

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.

Cash and cash equivalents

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.

Creditors

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.

Provisions for liabilities

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.

3.	Employees and directors

The average number of employees during the year was 18 (2024 - 20 ) .

4.	Tangible fixed assets

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 December 2024

32,236

559,543

266,760

171,243

1,029,782

Additions

-

67,186

30,418

7,731

105,335

Disposals

-

-

-

(88,059

)

(88,059

)

Reclassification

(11,832

)

-

-

-

(11,832

)

At 30 November 2025

20,404

626,729

297,178

90,915

1,035,226

Depreciation

At 1 December 2024

-

520,143

180,746

156,639

857,528

Charge for year

-

11,218

21,503

5,146

37,867

Eliminated on disposal

-

-

-

(87,823

)

(87,823

)

At 30 November 2025

-

531,361

202,249

73,962

807,572

Net book value

At 30 November 2025

20,404

95,368

94,929

16,953

227,654

At 30 November 2024

32,236

39,400

86,014

14,604

172,254

5.	Investment property

Total

£

Fair value

At 1 December 2024

12,392,634

Revaluations

313,168

Reclassification

11,832

At 30 November 2025

12,717,634

Net book value

At 30 November 2025

12,717,634

At 30 November 2024

12,392,634

The 2025 valuations were made by the directors, having regard to professional advice taken personally, on an open market value for existing use basis.

If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2025

2024

£

£

Historic cost

3,026,694

3,014,862

Accumulated depreciation and impairments

-

-

3,026,694

3,014,862

6.

Stock

2025

2024

£

£

Work in progress

17,463,929

16,279,661

7.

Debtors

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

249,234

181,063

Other debtors

570,601

524,706

819,835

705,769

2025

2024

£

£

Amounts falling due after more than one year:

Other debtors

827,468

827,468

Aggregate amounts

1,647,303

1,533,237

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

258,636

232,782

Taxation and social security

308,529

208,166

Other creditors

541,431

643,029

1,108,596

1,083,977

9.	Provisions for liabilities

2025

2024

£

£

Deferred tax

1,679,050

1,582,759

Deferred

tax

£

Balance at 1 December 2024

1,582,759

Charged during the year

96,291

Balance at 30 November 2025

1,679,050

The provision for deferred taxation is made up as follows:

2025

2024

£

£

Accelerated capital allowances

42,547

24,548

Unrealised surplus on investment properties

1,636,503

1,558,211

1,679,050

1,582,759

10.	Related party transactions

At the balance sheet date the company was owed £197,500 (2024 - £197,500) by Carfox Plant Hire Co. Limited, an associated company. No interest was charged on this balance.

During the year the company provided services totalling £231 (2024 - £5,147) to Carfox Plant Hire Co. Limited. The company also provided services totalling £4,319 (2024 - £5,989) to Beauchamps Farms Limited.

11.	Pension commitments

The company operates two defined contributions pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost represents contributions payable by the company to the funds and amounted to £60,329 (2024 - £55,739). Contributions totalling £710 (2024 - £710) were payable to the fund at the balance sheet date and are included in creditors.