Registered number
07969606
Woolwich Cex Ltd
Report and Accounts
For the year ended
28 February 2023
Woolwich Cex Ltd
Registered number: 07969606
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 20,925 22,750
Tangible assets 4 7,590 5,082
28,515 27,832
Current assets
Stocks 86,077 86,680
Debtors 5 1,109 30,114
Cash at bank and in hand 158,693 84,624
245,879 201,418
Creditors: amounts falling due within one year 6 (101,743) (66,487)
Net current assets 144,136 134,931
Total assets less current liabilities 172,651 162,763
Creditors: amounts falling due after more than one year 7 (30,674) (41,621)
Net assets 141,977 121,140
Capital and reserves
Called up share capital 100 100
Profit and loss account 141,877 121,040
Shareholders' funds 141,977 121,140
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Amjid Ali
Director
Approved by the board on 29 November 2023
Woolwich Cex Ltd
Notes to the Accounts
for the year ended 28 February 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:
Fixtures, fittings, tools and equipment 25% reducing balance
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 15
3 Intangible fixed assets £
Franchise fee:
Cost
At 1 March 2022 36,500
At 28 February 2023 36,500
Amortisation
At 1 March 2022 13,750
Provided during the year 1,825
At 28 February 2023 15,575
Net book value
At 28 February 2023 20,925
At 28 February 2022 22,750
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Furniture, fixture & fittings
£
Cost
At 1 March 2022 90,250
Additions 5,038
At 28 February 2023 95,288
Depreciation
At 1 March 2022 85,168
Charge for the year 2,530
At 28 February 2023 87,698
Net book value
At 28 February 2023 7,590
At 28 February 2022 5,082
5 Debtors 2023 2022
£ £
Trade debtors 718 718
Other debtors 391 29,396
1,109 30,114
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 58,268 28,763
Corporation tax 22,537 20,767
Other creditors 20,938 16,957
101,743 66,487
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,674 41,621
8 Other information
Woolwich Cex Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1st & 2nd Floor 33 George Street
Croydon
England
CR0 1LB
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