Registered number
07997207
W Ward Limited
Filleted Accounts
28 February 2023
W Ward Limited
Registered number: 07997207
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 616,859 448,990
Current assets
Debtors 4 8,158 4,438
Cash at bank and in hand 315,911 392,856
324,069 397,294
Creditors: amounts falling due within one year 5 (2,019) (2,023)
Net current assets 322,050 395,271
Total assets less current liabilities 938,909 844,261
Creditors: amounts falling due after more than one year 6 (119) (119)
Provisions for liabilities (117,831) (85,308)
Net assets 820,959 758,834
Capital and reserves
Called up share capital 10 10
Profit and loss account 820,949 758,824
Shareholders' funds 820,959 758,834
Average number of Employees 1 1
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.
Mr W Ward
Director
Approved by the board on 15 November 2023
W Ward Limited
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:
Freehold buildings over 50 years
Plant and machinery 20% reducing balance basis
Fixtures, fittings, tools and equipment 20% reducing balance basis
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 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2022 213,980 513,147 48,138 775,265
Additions 216,294 7,455 - 223,749
At 28 February 2023 430,274 520,602 48,138 999,014
Depreciation
At 1 March 2022 8,559 283,995 33,721 326,275
Charge for the year 8,559 47,321 - 55,880
At 28 February 2023 17,118 331,316 33,721 382,155
Net book value
At 28 February 2023 413,156 189,286 14,417 616,859
At 28 February 2022 205,421 229,152 14,417 448,990
4 Debtors 2023 2022
£ £
Other debtors 8,158 4,438
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 2,019 2,023
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 119 119
7 Controlling party
The ultimate controlling party is Mr W Ward by virtue of his 100% shareholding.
8 Other information
W Ward Limited is a private company limited by shares and incorporated in England. Its registered office is:
37 Park Road,
Holkham,
Wells-Next-The-Sea,
NR23 1RG
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