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COMPANY REGISTRATION NUMBER: 10549715
West York Property Services Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2023
West York Property Services Limited
Balance Sheet
31 January 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
3,503
4,950
Current assets
Stocks
1,000
1,000
Debtors
6
6,912
2,016
Cash at bank and in hand
24,380
27,804
--------
--------
32,292
30,820
Creditors: amounts falling due within one year
7
10,400
13,028
--------
--------
Net current assets
21,892
17,792
--------
--------
Total assets less current liabilities
25,395
22,742
Provisions
388
645
--------
--------
Net assets
25,007
22,097
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
24,907
21,997
--------
--------
Shareholders funds
25,007
22,097
--------
--------
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 profit and loss account has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
West York Property Services Limited
Balance Sheet (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
Mr N Cass
Director
Company registration number: 10549715
West York Property Services Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Chancery Lane, Wakefield, WF1 2SS.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements have been rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
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. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery
-
33% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% reducing balance
Impairment of fixed assets
Tangible assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable.
Stocks
As stocks are carried at the lower of cost and net realisable value this requires the estimation of the eventual selling price of goods to customers in the future. A high degree of judgement is applied when estimating the impact on the carrying value of stocks of factors such as slow moving items, shrinkage, damage and obsolescence. The quantity, age and condition of stocks are regularly assessed as part of a range of reviews and stock counts undertake throughout the year.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 February 2022 and 31 January 2023
7,408
7,100
1,616
16,124
-------
-------
-------
--------
Depreciation
At 1 February 2022
6,069
4,673
432
11,174
Charge for the year
446
607
394
1,447
-------
-------
-------
--------
At 31 January 2023
6,515
5,280
826
12,621
-------
-------
-------
--------
Carrying amount
At 31 January 2023
893
1,820
790
3,503
-------
-------
-------
--------
At 31 January 2022
1,339
2,427
1,184
4,950
-------
-------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
6,912
2,016
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,912
5,785
Social security and other taxes
6,993
5,773
Other creditors
1,495
1,470
--------
--------
10,400
13,028
--------
--------
8. Director's advances, credits and guarantees
There are no transactions with the director that require disclosure under section 413 of the Companies Act 2006.
9. Related party transactions
Included in "Other creditors" is an amount of £45 (2022: £20) due to the director. The amount is unsecured, interest free and repayable on demand .