2022-06-012023-05-312023-05-31false05132240W.I.C (ASI CONTROL) 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W.I.C (ASI CONTROL) LIMITED

Registered Number
05132240
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

W.I.C (ASI CONTROL) LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

HOWARD, Ian
HOWARD, Wendy Catherine

Registered Address

17 Weavers Road
Darley Dale
DE4 2FU

Registered Number

05132240 (England and Wales)
W.I.C (ASI CONTROL) LIMITED
Statement of Financial Position
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets512,84618,950
12,84618,950
Current assets
Stocks635,04227,424
Debtors777,66586,766
Cash at bank and on hand116,43445,678
229,141159,868
Creditors amounts falling due within one year8(80,178)(79,641)
Net current assets (liabilities)148,96380,227
Total assets less current liabilities161,80999,177
Creditors amounts falling due after one year9(3,180)(8,631)
Net assets158,62990,546
Capital and reserves
Called up share capital44
Profit and loss account158,62590,542
Shareholders' funds158,62990,546
The financial statements were approved and authorised for issue by the Board of Directors on 23 October 2023, and are signed on its behalf by:
HOWARD, Ian
Director
Registered Company No. 05132240
W.I.C (ASI CONTROL) LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Vehicles25-
Office Equipment-3
Stocks policy
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year33
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 June 2233,704
Additions2,627
At 31 May 2336,331
Depreciation and impairment
At 01 June 2214,755
Charge for year8,730
At 31 May 2323,485
Net book value
At 31 May 2312,846
At 31 May 2218,950
6.Stocks

2023

2022

££
Other stocks35,04227,424
Total35,04227,424
7.Debtors

2023

2022

££
Trade debtors / trade receivables76,76485,987
Prepayments and accrued income901779
Total77,66586,766
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables25,79037,101
Taxation and social security45,01434,655
Other creditors7,1466,834
Accrued liabilities and deferred income2,2281,051
Total80,17879,641
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.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts3,1808,631
Total3,1808,631