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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: C T Marcu
J M Snoxell





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate, Kempston
Bedford
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 08870619 (England and Wales)





ACCOUNTANTS: Haines Watts
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 5,488 6,458

CURRENT ASSETS
Stocks 5 15,000 14,000
Debtors 6 278,877 342,288
Cash at bank 569 569
294,446 356,857
CREDITORS
Amounts falling due within one year 7 228,370 293,463
NET CURRENT ASSETS 66,076 63,394
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,564

69,852

CREDITORS
Amounts falling due after more than one
year

8

(48,778

)

(44,335

)

PROVISIONS FOR LIABILITIES (1,372 ) (1,227 )
NET ASSETS 21,414 24,290

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 21,314 24,190
SHAREHOLDERS' FUNDS 21,414 24,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th January 2023 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.

WILLEY AND BUNKER PROJECTS LTD (REGISTERED NUMBER: 08870619)

BALANCE SHEET - continued
30TH JANUARY 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th October 2023 and were signed on its behalf by:





C T Marcu - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 31st January 2022 9,459 7,000 20,527 1,090 38,076
Additions 565 - - - 565
At 30th January 2023 10,024 7,000 20,527 1,090 38,641
DEPRECIATION
At 31st January 2022 7,856 5,557 18,182 23 31,618
Charge for year 387 289 586 273 1,535
At 30th January 2023 8,243 5,846 18,768 296 33,153
NET BOOK VALUE
At 30th January 2023 1,781 1,154 1,759 794 5,488
At 30th January 2022 1,603 1,443 2,345 1,067 6,458

5. STOCKS
2023 2022
£    £   
Stocks 15,000 14,000

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 57,275 31,345
Amounts recoverable on contract 33,824 50,000
Other debtors 9,075 9,113
Directors' current accounts 112,596 182,550
Tax 37,160 59,870
VAT 7,275 -
Prepayments 21,672 9,410
278,877 342,288

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 15,793 11,383
Other loans 20,008 22,000
Bibby invoice finance 20,110 22,278
Trade creditors 34,750 43,196
Corporation tax 72,197 80,075
Social security and other taxes 46,347 28,937
VAT - 46,819
Other creditors 9,065 27,463
Net wages outstanding 3,915 8,112
Accrued expenses 6,185 3,200
228,370 293,463

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 24,111 34,028
Other loans 24,667 10,307
48,778 44,335

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bibby invoice finance 20,110 22,278

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: £    £   
100 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
£    £   
C T Marcu
Balance outstanding at start of year 112,524 112,536
Amounts advanced 32,492 22,488
Amounts repaid (68,350 ) (22,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 76,666 112,524

J M Snoxell
Balance outstanding at start of year 70,026 71,679
Amounts advanced 19,639 20,847
Amounts repaid (53,734 ) (22,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,931 70,026

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.