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REGISTERED NUMBER: 01659075 (England and Wales)






Woollen Spinners Consultants (Yorkshire)
Limited

Financial Statements

for the Year Ended 31 March 2023






Woollen Spinners Consultants (Yorkshire)
Limited (Registered number: 01659075)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Woollen Spinners Consultants (Yorkshire)
Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: Ms J Sykes



REGISTERED OFFICE: 33 George Street
Wakefield
West Yorkshire
WF1 1LX



REGISTERED NUMBER: 01659075 (England and Wales)



ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX



BANKERS: National Westminster Bank plc
2 Northgate
Dewsbury
WF13 1EA

Woollen Spinners Consultants (Yorkshire)
Limited (Registered number: 01659075)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 329 480

CURRENT ASSETS
Stocks 3,470 3,386
Debtors 5 2,181 3,701
Cash at bank 1,648 1,678
7,299 8,765
CREDITORS
Amounts falling due within one year 6 23,641 28,864
NET CURRENT LIABILITIES (16,342 ) (20,099 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,013

)

(19,619

)

PROVISIONS FOR LIABILITIES 62 90
NET LIABILITIES (16,075 ) (19,709 )

Woollen Spinners Consultants (Yorkshire)
Limited (Registered number: 01659075)

Balance Sheet - continued
31 March 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (17,075 ) (20,709 )
SHAREHOLDERS' FUNDS (16,075 ) (19,709 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





Ms J Sykes - Director


Woollen Spinners Consultants (Yorkshire)
Limited (Registered number: 01659075)

Notes to the Financial Statements
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Woollen Spinners Consultants (Yorkshire) Limited 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Going concern
The trading results for this financial year are once again reporting a small profit for the company, and the balance sheet at the year end was presenting a negative position. Trading conditions and the economy continue to impact on the company's activities. Further opportunities to improve the trading outlook have continually been considered and acted upon where they align with the principal activity of the company. The contribution and impact these decisions have had to date on the trading results have been positive and, albeit profits are modest, the outlook is for the trading results for the company to be at least at these levels for the foreseeable future.

Taking these factors into consideration, the director is of the opinion that the company has the resources required to continue for the foreseeable future and accordingly, has adopted the Going Concern basis of accounting in these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Woollen Spinners Consultants (Yorkshire)
Limited (Registered number: 01659075)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Woollen Spinners Consultants (Yorkshire)
Limited (Registered number: 01659075)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 April 2022
and 31 March 2023 160 559 719
DEPRECIATION
At 1 April 2022 15 224 239
Charge for year 40 111 151
At 31 March 2023 55 335 390
NET BOOK VALUE
At 31 March 2023 105 224 329
At 31 March 2022 145 335 480

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,061 133
Directors' current accounts 1,120 3,568
2,181 3,701

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Tax 881 246
VAT 12,407 18,408
Accruals and deferred income 10,353 10,210
23,641 28,864

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Ordinary £1 1,000 1,000

Woollen Spinners Consultants (Yorkshire)
Limited (Registered number: 01659075)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£ £
Ms J Sykes
Balance outstanding at start of year 3,568 5,182
Amounts advanced 4,608 4,391
Amounts repaid (7,056 ) (6,005 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,120 3,568