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REGISTERED NUMBER: 07301952 (England and Wales)












WPS Cornwall Limited

Unaudited Financial Statements

for the Year Ended 31st July 2023






WPS Cornwall Limited (Registered number: 07301952)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WPS Cornwall Limited

Company Information
for the Year Ended 31st July 2023







DIRECTOR: S A Hunter





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 07301952 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

WPS Cornwall Limited (Registered number: 07301952)

Statement of Financial Position
31st July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,591 4,051
3,591 4,051

CURRENT ASSETS
Debtors 6 575 1,186
Cash at bank 14,225 15,971
14,800 17,157
CREDITORS
Amounts falling due within one year 7 (20,324 ) (22,450 )
NET CURRENT LIABILITIES (5,524 ) (5,293 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,933

)

(1,242

)

PROVISIONS FOR LIABILITIES (683 ) (770 )
NET LIABILITIES (2,616 ) (2,012 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (2,617 ) (2,013 )
SHAREHOLDERS' FUNDS (2,616 ) (2,012 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WPS Cornwall Limited (Registered number: 07301952)

Statement of Financial Position - continued
31st July 2023


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 director and authorised for issue on 4th October 2023 and were signed by:





S A Hunter - Director


WPS Cornwall Limited (Registered number: 07301952)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. STATUTORY INFORMATION

WPS Cornwall 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 aquisition of a business in 2010, was previously being amortised evenly over twenty years. However, a review of its estimated useful life in the previous year deemed that the goodwill no longer has any value. Accordingly the balance has been written off in its entirety.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment and tools - 25% on reducing balance
Fixtures and fittings - 25% on cost
Computer equipment - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The company has net liabilities, and is reliant on the continued support of the director. The director believes the going concern basis of preparing the financial statements to be appropriate.

WPS Cornwall Limited (Registered number: 07301952)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2022
and 31st July 2023 10,000
AMORTISATION
At 1st August 2022
and 31st July 2023 10,000
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Equipment and Computer
and tools fittings equipment Totals
£    £    £    £   
COST
At 1st August 2022 34,782 1,963 162 36,907
Additions 950 - - 950
At 31st July 2023 35,732 1,963 162 37,857
DEPRECIATION
At 1st August 2022 31,391 1,349 116 32,856
Charge for year 907 491 12 1,410
At 31st July 2023 32,298 1,840 128 34,266
NET BOOK VALUE
At 31st July 2023 3,434 123 34 3,591
At 31st July 2022 3,391 614 46 4,051

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 135 -
Other debtors 440 1,186
575 1,186

WPS Cornwall Limited (Registered number: 07301952)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,769 1,892
Taxation and social security - 587
Other creditors 18,555 19,971
20,324 22,450