| Directors | |
| Registered office | |
| Registered number | 07455800 |
| Accountant | Streets (Banbury) Limited |
| Gilmarde House | |
| 47 South Bar Street | |
| Banbury | |
| Oxfordshire | |
| OX16 9AB |
| Notes |
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The financial statements were approved and authorised for issue by the Board of Directors on
Wyatt, John Clement
Director |
Company registration number 07455800
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The financial statements are presented in sterling and this is the functional currency of the company.
The accounts have been prepared under the historical cost convention and in accordance with FRS 102.
The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Contributions to defined contribution plans are expensed in the period to which they relate.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price.
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Goodwill is being written off over its estimated economic life of 10 years.
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2026 | 2025 | |
£ | £ | |
Creditors include: | ||
Secured bank loans | 36,002 | 46,511 |
The loan is secured by a fixed and floating charge over land owned by the company.
Clement Wyatt Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Hill Barn Farm
Great Rollright
Chipping Norton
Oxfordshire
OX7 5SH
Included within other creditors is an amount of £225,490 (2025: £226,292) due to the directors. There are no fixed repayment terms.
The company is jointly controlled by John Wyatt and Patricia Wyatt, who between them hold 52% of the company's issued share capital.