Company Registration No. 03850827 (England and Wales)
David Wells Organ Builders Limited
Unaudited accounts
for the year ended 31 December 2021
David Wells Organ Builders Limited
Unaudited accounts
Contents
David Wells Organ Builders Limited
Company Information
for the year ended 31 December 2021
Director
David Harvey Wells
Company Number
03850827 (England and Wales)
Registered Office
CATHEDRAL WORKS
52 WESTMINSTER ROAD
KIRKDALE
LIVERPOOL
L4 4LT
Accountants
HER Accountants Ltd
3 Desford Road
Liverpool
L19 3RB
David Wells Organ Builders Limited
Statement of financial position
as at 31 December 2021
Tangible assets
20,740
25,925
Cash at bank and in hand
102,620
146,630
Creditors: amounts falling due within one year
(34,291)
(48,469)
Net current assets
143,000
158,495
Total assets less current liabilities
163,740
184,420
Provisions for liabilities
Deferred tax
(3,806)
(5,090)
Net assets
159,934
179,330
Called up share capital
2
2
Profit and loss account
159,932
179,328
Shareholders' funds
159,934
179,330
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 August 2022 and were signed on its behalf by
David Harvey Wells
Director
Company Registration No. 03850827
David Wells Organ Builders Limited
Notes to the Accounts
for the year ended 31 December 2021
David Wells Organ Builders Limited is a private company, limited by shares, registered in England and Wales, registration number 03850827. The registered office is CATHEDRAL WORKS, 52 WESTMINSTER ROAD, KIRKDALE, LIVERPOOL, L4 4LT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
David Wells Organ Builders Limited
Notes to the Accounts
for the year ended 31 December 2021
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2021
6,674
65,931
51,010
123,615
At 31 December 2021
6,674
65,931
51,010
123,615
At 1 January 2021
6,301
42,725
48,664
97,690
Charge for the year
75
4,641
469
5,185
At 31 December 2021
6,376
47,366
49,133
102,875
At 31 December 2021
298
18,565
1,877
20,740
At 31 December 2020
373
23,206
2,346
25,925
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
14,820
14,042
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
3,412
(747)
Taxes and social security
1,066
8,053
Deferred income
12,055
28,834
7
Transactions with related parties
The director received a salary of £6,220 during the year (2020: £8,480)
8
Average number of employees
During the year the average number of employees was 9 (2020: 9).