Northern & Central Wigan Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00991433 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

FOR

NORTHERN & CENTRAL WIGAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D J Farrimond

Mrs P Farrimond

Mr D B Farrimond

SECRETARY:

Mr D J Farrimond

REGISTERED OFFICE:

2nd Floor, Boulton House

17-21 Chorlton Street

Manchester

M1 3HY

REGISTERED NUMBER:

00991433 (England and Wales)

ACCOUNTANTS:

Connaughton & Co

2nd Floor, Boulton House

17-21 Chorlton Street

Manchester

M1 3HY

BANKERS:

National Westminster Bank PLC

PO Box 65

2 Chestergate

Macclesfield

SK11 6BS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

243,867

204,282

243,867

204,282

CURRENT ASSETS

Stocks

6

242,177

218,891

Debtors

7

459,982

405,133

Cash at bank and in hand

288,071

264,060

990,230

888,084

CREDITORS

Amounts falling due within one year

8

364,492

341,669

NET CURRENT ASSETS

625,738

546,415

TOTAL ASSETS LESS CURRENT LIABILITIES

869,605

750,697

CREDITORS

Amounts falling due after more than one year

9

(4,321

)

-

PROVISIONS FOR LIABILITIES

10

(13,751

)

(5,494

)

NET ASSETS

851,533

745,203

CAPITAL AND RESERVES

Called up share capital

11

62,000

62,000

Retained earnings

12

789,533

683,203

SHAREHOLDERS' FUNDS

851,533

745,203

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2022 and were signed on its behalf by:

Mr D B Farrimond - Director

1.	STATUTORY INFORMATION

Northern & Central Wigan 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

2% on cost

Leasehold improvements

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2021

and 31 January 2022

58,000

AMORTISATION

At 1 February 2021

and 31 January 2022

58,000

NET BOOK VALUE

At 31 January 2022

-

At 31 January 2021

-

5.	TANGIBLE FIXED ASSETS

Long

Leasehold

Plant and

leasehold

improvements

machinery

£

£

£

COST

At 1 February 2021

174,397

2,520

4,100

Additions

-

-

-

Disposals

-

-

-

At 31 January 2022

174,397

2,520

4,100

DEPRECIATION

At 1 February 2021

6,976

101

1,794

Charge for year

3,488

50

576

Eliminated on disposal

-

-

-

At 31 January 2022

10,464

151

2,370

NET BOOK VALUE

At 31 January 2022

163,933

2,369

1,730

At 31 January 2021

167,421

2,419

2,306

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2021

99,447

79,118

55,328

414,910

Additions

-

68,434

9,694

78,128

Disposals

-

(39,907

)

-

(39,907

)

At 31 January 2022

99,447

107,645

65,022

453,131

DEPRECIATION

At 1 February 2021

97,041

52,997

51,719

210,628

Charge for year

361

21,272

3,326

29,073

Eliminated on disposal

-

(30,437

)

-

(30,437

)

At 31 January 2022

97,402

43,832

55,045

209,264

NET BOOK VALUE

At 31 January 2022

2,045

63,813

9,977

243,867

At 31 January 2021

2,406

26,121

3,609

204,282

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Computer

equipment

£

COST

Additions

9,150

At 31 January 2022

9,150

DEPRECIATION

Charge for year

2,288

At 31 January 2022

2,288

NET BOOK VALUE

At 31 January 2022

6,862

6.

STOCKS

31.1.22

31.1.21

£

£

Stocks

242,177

218,891

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade debtors

396,703

374,198

Associated companies

-

7,866

Prepayments and accrued income

63,279

23,069

459,982

405,133

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Hire purchase contracts

3,050

-

Trade creditors

129,659

147,214

Corporation tax

8,844

13,715

Social security

3,982

4,049

VAT

16,957

12,456

Other creditors

996

996

Parent company

146,626

129,983

Associated companies

31,367

10,803

Accruals and deferred income

23,011

22,453

364,492

341,669

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.22

31.1.21

£

£

Hire purchase contracts

4,321

-

10.	PROVISIONS FOR LIABILITIES

31.1.22

31.1.21

£

£

Deferred tax

13,751

5,494

Deferred

tax

£

Balance at 1 February 2021

5,494

Accelerated capital allowances

8,257

Balance at 31 January 2022

13,751

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.22

31.1.21

value:

£

£

60,000

Ordinary

£1

60,000

60,000

2,000

Preference

£1

2,000

2,000

62,000

62,000

12.

RESERVES

Retained

earnings

£

At 1 February 2021

683,203

Profit for the year

106,330

At 31 January 2022

789,533

13.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of its parent company, N&C Group UK Ltd. Transactions have taken place with the group companies listed below:

NAME

RELATIONSHIP

N&C Group UK Ltd

Parent company

Northern & Central Buxton Limited

Fellow subsidiary

Northern & Central Macclesfield Limited

Fellow subsidiary

Northern & Central Ormskirk Limited

Fellow subsidiary

Consultancy fees of £126,000 (2021 - £116,000) were paid to N&C Group UK Ltd during the year. The other aggregated transactions which are considered to be material and which have not been disclosed elsewhere in the financial statements amounted to:

Sales

Purchases

2022

2021

2022

2021

£

£

£

£

Northern & Central Buxton Limited

7,185

17,207

28,123

25,459

Northern & Central Macclesfield Limited

(5,438

)

2,130

35,241

33,876

Northern & Central Ormskirk Limited

(11,512

)

26,419

154,929

31,080

(9,765

)

45,756

218,293

90,415

The above transactions were all performed at cost.

Amounts due to the ultimate parent company and amounts due from and to fellow subsidiaries are disclosed in notes 7 and 8 of these financial statements.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is N&C Group UK Ltd.

The ultimate controlling party is Mr D B Farrimond.