Company Registration No. 6063644 (England and Wales)
WESTCO ESSEX LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
WESTCO ESSEX LTD
COMPANY INFORMATION
Directors
S Simmons
M B Simmons
(Appointed 20 December 2022)
Company number
6063644
Registered office
Unit 9 Brunel Business Centre
Brunel Way
Thetford
IP24 1HP
WESTCO ESSEX LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WESTCO ESSEX LTD
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
53,140
26,164
Current assets
Stock and work in progress
946
1,950
Debtors
4
16,139
8,068
Cash at bank and in hand
9,493
12,046
26,578
22,064
Creditors: amounts falling due within one year
5
(75,578)
(45,840)
Net current liabilities
(49,000)
(23,776)
Total assets less current liabilities
4,140
2,388
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
4,138
2,386
Total equity
4,140
2,388

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities:

 

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 17 October 2023 and are signed on its behalf by:
S Simmons
Director
Company Registration No. 6063644
WESTCO ESSEX LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
Company information

Westco Essex Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 9 Brunel Business Centre, Brunel Way, Thetford, IP24 1HP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets other than goodwill
Diminuation in value 10% straight line basis
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WESTCO ESSEX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
2
Intangible fixed assets
Spare Asset 1
£
Cost
At 1 February 2022 and 31 January 2023
30,000
Amortisation and impairment
At 1 February 2022 and 31 January 2023
30,000
Carrying amount
At 31 January 2023
-
0
At 31 January 2022
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022
187,058
Additions
44,690
At 31 January 2023
231,748
Depreciation and impairment
At 1 February 2022
160,894
Depreciation charged in the year
17,714
At 31 January 2023
178,608
Carrying amount
At 31 January 2023
53,140
At 31 January 2022
26,164
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
16,139
8,068
WESTCO ESSEX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
-
0
937
Other taxation and social security
1,548
1,437
Other creditors
74,030
43,466
75,578
45,840
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Authorised
100 Ordinary of £1 each
100
100
Issued and fully paid
2 Ordinary of £1 each
2
2
7
Operating lease commitments
Lessee
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