Registered number
06671464
Wild & Lye Limited
Filleted Accounts
31 July 2023
Wild & Lye Limited
Registered number: 06671464
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 168,644 168,780
Investments 5 100 100
168,744 168,880
Current assets
Debtors 6 5,000 -
Cash at bank and in hand - 21,559
5,000 21,559
Creditors: amounts falling due within one year 7 (20,351) (30,055)
Net current liabilities (15,351) (8,496)
Total assets less current liabilities 153,393 160,384
Creditors: amounts falling due after more than one year 8 (83,703) (94,014)
Net assets 69,690 66,370
Capital and reserves
Called up share capital 1 1
Profit and loss account 69,689 66,369
Shareholder's funds 69,690 66,370
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.
Mr J Burnand
Director
Approved by the board on 1 November 2023
Wild & Lye Limited
Notes to the Accounts
for the year ended 31 July 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 80,000
At 31 July 2023 80,000
Amortisation
At 1 August 2022 80,000
At 31 July 2023 80,000
Net book value
At 31 July 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 168,234 2,989 171,223
At 31 July 2023 168,234 2,989 171,223
Depreciation
At 1 August 2022 - 2,443 2,443
Charge for the year - 136 136
At 31 July 2023 - 2,579 2,579
Net book value
At 31 July 2023 168,234 410 168,644
At 31 July 2022 168,234 546 168,780
5 Investments
Other
investments
£
Cost
At 1 August 2022 100
At 31 July 2023 100
6 Debtors 2023 2022
£ £
Other debtors 5,000 -
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,939 -
Taxation and social security costs 7,544 19,844
Other creditors 9,868 10,211
20,351 30,055
8 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 8,639 10,992
Other creditors 75,064 83,022
83,703 94,014
9 Other information
Wild & Lye Limited is a private company limited by shares and incorporated in England. Its registered office is:
28-29 Bathwick Street
Bath
Somerset
BA2 6NZ
Wild & Lye Limited 06671464 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts April 2022 Mr J Burnand No description of principal activity 06671464 2021-08-01 2022-07-31 06671464 core:WithinOneYear 2022-07-31 06671464 core:AfterOneYear 2022-07-31 06671464 core:ShareCapital 2022-07-31 06671464 core:RetainedEarningsAccumulatedLosses 2022-07-31 06671464 2022-08-01 2023-07-31 06671464 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 06671464 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 06671464 bus:Director40 2022-08-01 2023-07-31 06671464 1 2022-08-01 2023-07-31 06671464 2 2022-08-01 2023-07-31 06671464 core:LandBuildings 2022-08-01 2023-07-31 06671464 core:PlantMachinery 2022-08-01 2023-07-31 06671464 countries:England 2022-08-01 2023-07-31 06671464 bus:FRS102 2022-08-01 2023-07-31 06671464 bus:FullAccounts 2022-08-01 2023-07-31 06671464 2023-07-31 06671464 core:WithinOneYear 2023-07-31 06671464 core:AfterOneYear 2023-07-31 06671464 core:ShareCapital 2023-07-31 06671464 core:RetainedEarningsAccumulatedLosses 2023-07-31 06671464 core:Goodwill 2023-07-31 06671464 core:LandBuildings 2023-07-31 06671464 core:PlantMachinery 2023-07-31 06671464 2022-07-31 06671464 core:Goodwill 2022-07-31 06671464 core:LandBuildings 2022-07-31 06671464 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure