W B Merrett & Son Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

W B Merrett & Son Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11788609 . The registered office is Unit 7 Vulcan House, Restmor Way, Wallington, SM6 7AH.

The principal place of business is 2 Croydon Lane, Banstead, Surrey.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial ReportingStandard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the CompaniesAct 2006 as applicable to companies subject to the small companies regime. The disclosure requirements ofsection 1A of FRS 102 have been applied other than where additional disclosure is required to show a trueand fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetaryamounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant & Machinery	20% straight line
Motor Vehicles	25% straight line
Fixtures & Fittings	25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4. Leasing and Hire Purchase Contracts

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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W B Merrett & Son Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assetsclassified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.7. Foreign Currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2.8. Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

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W B Merrett & Son Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.9. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2025: 4)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 February 2025	358,506	172,740	8,727	539,973
Additions	94,600	24,233	-	118,833
Disposals	(30,000 )	-	-	(30,000 )

As at 31 January 2026	423,106	196,973	8,727	628,806

Depreciation
As at 1 February 2025	252,517	67,080	2,437	322,034
Provided during the period	46,589	43,854	1,544	91,987
Disposals	(19,750 )	-	-	(19,750 )

As at 31 January 2026	279,356	110,934	3,981	394,271

Net Book Value
As at 31 January 2026	143,750	86,039	4,746	234,535

As at 1 February 2025	105,989	105,660	6,290	217,939

5. Stocks

	2026	2025
	£	£
Stock	38,553	30,786
Work in progress	40,100	40,100

	78,653	70,886

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	88,506	61,422
Other debtors	775,372	100,427

	863,878	161,849

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W B Merrett & Son Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	764,287	53,637
Other creditors	238,932	199,681
Taxation and social security	16,329	7,573

	1,019,548	260,891

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Other creditors	8,104	22,076

9. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
98 Ordinary Shares of £ 1.00 each	98	98
1 Ordinary A shares of £ 1.00 each	1	1
1 Ordinary B shares of £ 1.00 each	1	1

	100	100

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		234,535		217,939

			234,535		217,939
CURRENT ASSETS
Stocks	5	78,653		70,886
Debtors	6	863,878		161,849
Cash at bank and in hand		149,967		113,993

		1,092,498		346,728
Creditors: Amounts Falling Due Within One Year	7	(1,019,548 )		(260,891 )

NET CURRENT ASSETS (LIABILITIES)			72,950		85,837

TOTAL ASSETS LESS CURRENT LIABILITIES			307,485		303,776

Creditors: Amounts Falling Due After More Than One Year	8		(8,104 )		(22,076 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(58,634 )		(55,318 )

NET ASSETS			240,747		226,382

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			240,647		226,282

SHAREHOLDERS' FUNDS			240,747		226,382