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COMPANY REGISTRATION NUMBER: 05810041
WEIGHING SCALES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2022
WEIGHING SCALES LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
55,697
54,331
CURRENT ASSETS
Debtors
6
165,771
188,154
Investments
7
49,476
Cash at bank and in hand
99,704
175,506
---------
---------
314,951
363,660
CREDITORS: amounts falling due within one year
8
97,929
169,266
---------
---------
NET CURRENT ASSETS
217,022
194,394
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
272,719
248,725
---------
---------
NET ASSETS
272,719
248,725
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
272,619
248,625
---------
---------
SHAREHOLDERS FUNDS
272,719
248,725
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WEIGHING SCALES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2022
These financial statements were approved by the board of directors and authorised for issue on 8 August 2022 , and are signed on behalf of the board by:
J. Gannon
Director
Company registration number: 05810041
WEIGHING SCALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 19, Barnfield Business Centre, Brunswick Street, Nelson, Lancashire, BB9 0HT.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
(c) Government grants
Government grants or assistance of a revenue nature are recognised in the same period as the related expenditure. Where the grant is for the purpose of giving immediate financial support with no future related costs the income is recognised in the period in which it becomes receivable.
(d) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(e) Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property Additions
-
10% per annum reducing balance
Plant & Equipment
-
20% per annum reducing balance
Office Equipment
-
20% per annum reducing balance
(h) Financial instruments
Basic financial instruments are recognised at amortised cost.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 10 (2021: 9 ).
5. TANGIBLE ASSETS
Leasehold Property Additions
Plant & Equipment
Office Equipment
Total
£
£
£
£
Cost
At 1 May 2021
23,624
67,610
10,870
102,104
Additions
11,115
11,115
--------
--------
--------
---------
At 30 April 2022
23,624
67,610
21,985
113,219
--------
--------
--------
---------
Depreciation
At 1 May 2021
6,739
34,966
6,068
47,773
Charge for the year
1,689
6,529
1,531
9,749
--------
--------
--------
---------
At 30 April 2022
8,428
41,495
7,599
57,522
--------
--------
--------
---------
Carrying amount
At 30 April 2022
15,196
26,115
14,386
55,697
--------
--------
--------
---------
At 30 April 2021
16,885
32,644
4,802
54,331
--------
--------
--------
---------
6. DEBTORS
2022
2021
£
£
Trade debtors
124,072
147,654
Other debtors
41,699
40,500
---------
---------
165,771
188,154
---------
---------
7. INVESTMENTS
2022
2021
£
£
Other investments
49,476
--------
----
8. CREDITORS: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
50,000
Trade creditors
38,091
32,535
Accruals and deferred income
1,000
1,000
Corporation tax
21,596
39,844
Social security and other taxes
31,572
38,445
Director loan accounts
5,670
7,442
--------
---------
97,929
169,266
--------
---------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
There are no transactions with directors that require disclosure under FRS 102 Section 1A.
10. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under the provisions of FRS 102 Section 1A.