Wrightsons Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03145705 (England and Wales)

WRIGHTSONS DEVELOPMENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C P Wright

A S Wright

SECRETARY:

A S Wright

REGISTERED OFFICE:

Brownings Farm

Lewes Road

Blackboys

Uckfield

East Sussex

TN22 5HG

REGISTERED NUMBER:

03145705 (England and Wales)

ACCOUNTANTS:

Atkinson Finch & Co

Chartered Accountants

Central Chambers

45-47 Albert Street

Rugby

Warwickshire

CV21 2SG

FIXED ASSETS

Tangible assets

4

11

11

CURRENT ASSETS

Stocks

1,606,534

2,090,987

Debtors

5

72,194

75,776

Cash at bank

10,478

7,414

1,689,206

2,174,177

CREDITORS

Amounts falling due within one year

6

437,058

922,995

NET CURRENT ASSETS

1,252,148

1,251,182

TOTAL ASSETS LESS CURRENT LIABILITIES

1,252,159

1,251,193

PROVISIONS FOR LIABILITIES

2

2

NET ASSETS

1,252,157

1,251,191

CAPITAL AND RESERVES

Called up share capital

450,000

450,000

Share premium

472,500

472,500

Retained earnings

329,657

328,691

SHAREHOLDERS' FUNDS

1,252,157

1,251,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th June 2022 and were signed on its behalf by:

C P Wright - Director

1.	STATUTORY INFORMATION

Wrightsons Developments 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.

Significant judgements and estimates

There are no significant judgements that have a material effect on the accounts nor any accounting estimates that have a high risk of causing a material adjustment in a future accounting period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st April 2021

and 31st March 2022

13,089

DEPRECIATION

At 1st April 2021

and 31st March 2022

13,078

NET BOOK VALUE

At 31st March 2022

11

At 31st March 2021

11

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

64,135

67,315

Prepayments

8,059

8,461

72,194

75,776

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other loans

120,000

737,791

Trade creditors

242

-

Corporation tax payable

37,757

20,847

Other creditors

3,629

3,629

Directors' current accounts

271,734

157,176

Accrued expenses

3,696

3,552

437,058

922,995