Company Registration No. 08398872 (England and Wales)
Wrights Division Clearances Ltd
Unaudited accounts
for the year ended 28 February 2023
Wrights Division Clearances Ltd
Unaudited accounts
Contents
Wrights Division Clearances Ltd
Company Information
for the year ended 28 February 2023
Company Number
08398872 (England and Wales)
Registered Office
40 Sandpits
Leominster
HR6 8HT
Accountants
Armstrong Rogers & Co
45 Etnam Street
Leominster
Herefordshire
HR6 8AE
Wrights Division Clearances Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
7,516
10,021
Cash at bank and in hand
2,253
2,429
Creditors: amounts falling due within one year
(29,162)
(29,344)
Net current liabilities
(23,789)
(23,975)
Net liabilities
(16,273)
(13,954)
Profit and loss account
(16,275)
(13,956)
Shareholders' funds
(16,273)
(13,954)
For the year ending 28 February 2023 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 October 2023 and were signed on its behalf by
S R Wright
Director
Company Registration No. 08398872
Wrights Division Clearances Ltd
Notes to the Accounts
for the year ended 28 February 2023
Wrights Division Clearances Ltd is a private company, limited by shares, registered in England and Wales, registration number 08398872. The registered office is 40 Sandpits, Leominster, HR6 8HT.
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.
These financial statements for the year ended 28 February 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
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
25% Reducing Balance Basis
Motor vehicles
25% Reducing Balance Basis
Wrights Division Clearances Ltd
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2022
10,313
21,000
31,313
At 28 February 2023
10,313
21,000
31,313
At 1 March 2022
6,936
14,356
21,292
Charge for the year
844
1,661
2,505
At 28 February 2023
7,780
16,017
23,797
At 28 February 2023
2,533
4,983
7,516
At 28 February 2022
3,377
6,644
10,021
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
1,647
Loans from directors
28,226
26,618
7
Transactions with related parties
At the 28 February 2023 the company owed £28,226 (2022 - £26,618) to S R Wright in respect of his Directors Account.
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).