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REGISTERED NUMBER: 07887730 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2022

FOR

W140 SPARES LTD

W140 SPARES LTD (REGISTERED NUMBER: 07887730)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W140 SPARES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2022







DIRECTORS: Mr C H Burgess
Mrs M F N Burgess





REGISTERED OFFICE: 139-141 Watling Street
Gillingham
Kent
ME7 2YY





REGISTERED NUMBER: 07887730 (England and Wales)





ACCOUNTANTS: Stephen Hill Partnership Limited
139-141 Watling Street
Gillingham
Kent
ME7 2YY

W140 SPARES LTD (REGISTERED NUMBER: 07887730)

BALANCE SHEET
31ST DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,522 13,912

CURRENT ASSETS
Stocks 20,000 27,500
Debtors 5 796 201
Cash at bank and in hand 17,962 17,979
38,758 45,680
CREDITORS
Amounts falling due within one year 6 32,800 38,130
NET CURRENT ASSETS 5,958 7,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,480

21,462

CREDITORS
Amounts falling due after more than one
year

7

(2,291

)

-

PROVISIONS FOR LIABILITIES (3,691 ) (2,433 )
NET ASSETS 23,498 19,029

CAPITAL AND RESERVES
Called up share capital 200 2
Retained earnings 23,298 19,027
SHAREHOLDERS' FUNDS 23,498 19,029

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

W140 SPARES LTD (REGISTERED NUMBER: 07887730)

BALANCE SHEET - continued
31ST DECEMBER 2022


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 26th September 2023 and were signed on its behalf by:





Mr C H Burgess - Director


W140 SPARES LTD (REGISTERED NUMBER: 07887730)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022

1. STATUTORY INFORMATION

W140 Spares Ltd 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 and value added tax.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

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.


W140 SPARES LTD (REGISTERED NUMBER: 07887730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2022 16,390 7,856 7,203 7,853 39,302
Additions 6,191 - 11,250 425 17,866
At 31st December 2022 22,581 7,856 18,453 8,278 57,168
DEPRECIATION
At 1st January 2022 10,926 5,895 4,192 4,377 25,390
Charge for year 2,914 490 3,565 1,287 8,256
At 31st December 2022 13,840 6,385 7,757 5,664 33,646
NET BOOK VALUE
At 31st December 2022 8,741 1,471 10,696 2,614 23,522
At 31st December 2021 5,464 1,961 3,011 3,476 13,912

W140 SPARES LTD (REGISTERED NUMBER: 07887730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 188 201
Other debtors 608 -
796 201

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Hire purchase contracts 5,709 -
Trade creditors 2,291 2,214
Taxation and social security 6,709 6,821
Other creditors 18,091 29,095
32,800 38,130

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Hire purchase contracts 2,291 -