WILLEY AND BUNKER PROJECTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30TH JANUARY 2023 |
WILLEY AND BUNKER PROJECTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30TH JANUARY 2023 |
WILLEY AND BUNKER PROJECTS LTD (REGISTERED NUMBER: 08870619) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JANUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WILLEY AND BUNKER PROJECTS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JANUARY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
First Floor, Woburn Court |
2 Railton Road |
Woburn Rd Ind Est |
Kempston |
Bedfordshire |
MK42 7PN |
WILLEY AND BUNKER PROJECTS LTD (REGISTERED NUMBER: 08870619) |
BALANCE SHEET |
30TH JANUARY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
WILLEY AND BUNKER PROJECTS LTD (REGISTERED NUMBER: 08870619) |
BALANCE SHEET - continued |
30TH JANUARY 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WILLEY AND BUNKER PROJECTS LTD (REGISTERED NUMBER: 08870619) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JANUARY 2023 |
1. | STATUTORY INFORMATION |
Willey And Bunker Projects Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
In response to the COVID-19 pandemic, the Directors have taken into account the impact on their business of possible scenarios brought on by the pandemic, alongside the measures that they can take to mitigate the impact. Based on these assessments, the Directors have concluded that they can continue to adopt the going concern basis in preparing the accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Included within turnover is the fair value of amounts recoverable on contracts where a right to consideration has been obtained. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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. |
WILLEY AND BUNKER PROJECTS LTD (REGISTERED NUMBER: 08870619) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JANUARY 2023 |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 31st January 2022 |
Additions |
At 30th January 2023 |
DEPRECIATION |
At 31st January 2022 |
Charge for year |
At 30th January 2023 |
NET BOOK VALUE |
At 30th January 2023 |
At 30th January 2022 |
5. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
WILLEY AND BUNKER PROJECTS LTD (REGISTERED NUMBER: 08870619) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JANUARY 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Directors' current accounts | 112,596 | 182,550 |
Tax |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Bibby invoice finance | 20,110 | 22,278 |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | - | 46,819 |
Other creditors |
Net wages outstanding | 3,915 | 8,112 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Other loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bibby invoice finance |
Amounts advanced by Bibby Invoice Finance are secured by a charge over the trade debtors and by a personal guarantee limited to £15,000 from Mr J M Snoxell, a director. |
The bank overdraft is secured by personal guarantees from Mr C T Marcu & Mr J M Snoxell, the directors. |
WILLEY AND BUNKER PROJECTS LTD (REGISTERED NUMBER: 08870619) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JANUARY 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
ORDINARY | £1 | 100 | 100 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30th January 2023 and 30th January 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Included in debtors at the year end are loans to the directors, interest has been charged at an annual rate of 3%. There are no set terms of repayment. |
12. | ULTIMATE CONTROLLING PARTY |
The directors do not consider there to be a sole controlling party. |