Northern & Central Wigan Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00991433 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

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

235,485

243,867

235,485

243,867

CURRENT ASSETS

Stocks

6

269,151

242,177

Debtors

7

633,216

459,982

Cash at bank and in hand

310,844

288,071

1,213,211

990,230

CREDITORS

Amounts falling due within one year

8

580,103

364,492

NET CURRENT ASSETS

633,108

625,738

TOTAL ASSETS LESS CURRENT LIABILITIES

868,593

869,605

CREDITORS

Amounts falling due after more than one year

9

(1,271

)

(4,321

)

PROVISIONS FOR LIABILITIES

10

(12,890

)

(13,751

)

NET ASSETS

854,432

851,533

CAPITAL AND RESERVES

Called up share capital

11

62,000

62,000

Retained earnings

12

792,432

789,533

SHAREHOLDERS' FUNDS

854,432

851,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 16 October 2023 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 (2022 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2022

and 31 January 2023

58,000

AMORTISATION

At 1 February 2022

and 31 January 2023

58,000

NET BOOK VALUE

At 31 January 2023

-

At 31 January 2022

-

5.	TANGIBLE FIXED ASSETS

Long

Leasehold

Plant and

leasehold

improvements

machinery

£

£

£

COST

At 1 February 2022

174,397

2,520

4,100

Additions

-

-

-

Disposals

-

-

-

At 31 January 2023

174,397

2,520

4,100

DEPRECIATION

At 1 February 2022

10,464

151

2,370

Charge for year

3,488

51

433

Eliminated on disposal

-

-

-

At 31 January 2023

13,952

202

2,803

NET BOOK VALUE

At 31 January 2023

160,445

2,318

1,297

At 31 January 2022

163,933

2,369

1,730

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2022

99,447

107,645

65,022

453,131

Additions

-

25,050

2,724

27,774

Disposals

-

(20,500

)

-

(20,500

)

At 31 January 2023

99,447

112,195

67,746

460,405

DEPRECIATION

At 1 February 2022

97,402

43,832

55,045

209,264

Charge for year

307

20,054

3,175

27,508

Eliminated on disposal

-

(11,852

)

-

(11,852

)

At 31 January 2023

97,709

52,034

58,220

224,920

NET BOOK VALUE

At 31 January 2023

1,738

60,161

9,526

235,485

At 31 January 2022

2,045

63,813

9,977

243,867

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

Computer

equipment

£

COST

At 1 February 2022

and 31 January 2023

9,150

DEPRECIATION

At 1 February 2022

2,288

Charge for year

1,715

At 31 January 2023

4,003

NET BOOK VALUE

At 31 January 2023

5,147

At 31 January 2022

6,862

6.

STOCKS

31.1.23

31.1.22

£

£

Stocks

269,151

242,177

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

457,260

396,703

Associated companies

2,573

-

VAT

21,612

-

Prepayments and accrued income

151,771

63,279

633,216

459,982

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Hire purchase contracts

3,050

3,050

Trade creditors

404,364

129,659

Corporation tax

918

8,844

Social security

4,028

3,982

VAT

-

16,957

Other creditors

1,396

996

Parent company

129,923

146,626

Associated companies

9,497

31,367

Accruals and deferred income

26,927

23,011

580,103

364,492

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23

31.1.22

£

£

Hire purchase contracts

1,271

4,321

10.	PROVISIONS FOR LIABILITIES

31.1.23

31.1.22

£

£

Deferred tax

12,890

13,751

Deferred

tax

£

Balance at 1 February 2022

13,751

Accelerated capital allowances

(861

)

Balance at 31 January 2023

12,890

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.23

31.1.22

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 2022

789,533

Profit for the year

2,899

At 31 January 2023

792,432

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 £123,500 (2022 - £126,000) 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

2023

2022

2023

2022

£

£

£

£

Northern & Central Buxton Limited

(35,523

)

7,185

25,164

28,123

Northern & Central Macclesfield Limited

(5,373

)

(5,438

)

28,653

35,241

Northern & Central Ormskirk Limited

(18,083

)

(11,512

)

164,516

154,929

(58,979

)

(9,765

)

218,333

218,293

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.