Registered number
05014689
ANDY WOOD LIMITED
Filleted Accounts
30 June 2023
ANDY WOOD LIMITED
Registered number: 05014689
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 16,260 14,660
Current assets
Debtors 5 5,397 3,615
Cash at bank and in hand 545,649 500,527
551,046 504,142
Creditors: amounts falling due within one year 6 (30,696) (31,106)
Net current assets 520,350 473,036
Total assets less current liabilities 536,610 487,696
Provisions for liabilities (3,000) (3,000)
Net assets 533,610 484,696
Capital and reserves
Called up share capital 1 1
Profit and loss account 533,609 484,695
Shareholder's funds 533,610 484,696
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andrew Wood
Director
Approved by the board on 21 August 2023
ANDY WOOD LIMITED
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Instruments/Equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Other Operating Income 2023 2022
£ £
Job Retention Support Scheme - 614
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Instruments/Equipment
£
Cost
At 1 July 2022 116,369
Additions 7,020
At 30 June 2023 123,389
Depreciation
At 1 July 2022 101,709
Charge for the year 5,420
At 30 June 2023 107,129
Net book value
At 30 June 2023 16,260
At 30 June 2022 14,660
5 Debtors 2023 2022
£ £
Trade debtors 5,397 3,615
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 29,571 30,890
Director's Loan Account 121 (776)
Other creditors 1,004 992
30,696 31,106
7 Other information
ANDY WOOD LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
39 Lowick Road
Harrow
Middlesex
HA1 1UP
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