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Registered Number: 12483239
England and Wales

 

 

 

WEST COUNTRY DISTRIBUTORS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 18,325   
Tangible fixed assets 4 181,485    62,314 
Investments 5 182,086   
381,896    62,314 
Current assets      
Stocks 31,275    15,500 
Debtors 234,177    297,725 
Cash at bank and in hand 36,727    37,796 
302,179    351,021 
Creditors: amount falling due within one year (578,992)   (334,866)
Net current liabilities (276,813)   16,155 
 
Total assets less current liabilities 105,083    78,469 
Creditors: amount falling due after more than one year (32,591)   (34,556)
Provisions for liabilities 600    1,859 
Net assets 73,092    45,772 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 72,992    45,672 
Shareholder's funds 73,092    45,772 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 November 2023 and were signed on its behalf by:


-------------------------------
Afnam Ali
Director
1
General Information
WEST COUNTRY DISTRIBUTORS LTD is a private company, limited by shares, registered in England and Wales, registration number 12483239, registration address Unit 3, Mill Street , Crediton, EX171EY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 13 (2022 : 5).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2022 18,325    18,325 
Additions  
Disposals  
At 28 February 2023 18,325    18,325 
Amortisation
At 01 March 2022  
Charge for year  
On disposals  
At 28 February 2023  
Net book values
At 28 February 2023 18,325    18,325 
At 28 February 2022 18,325    18,325 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 March 2022 25,273    95,000      120,273 
Additions     81,377    81,377 
Disposals      
At 28 February 2023 25,273    95,000    81,377    201,650 
Depreciation
At 01 March 2022      
Charge for year 2,527    9,500    8,138    20,165 
On disposals      
At 28 February 2023 2,527    9,500    8,138    20,165 
Net book values
Closing balance as at 28 February 2023 22,746    85,500    73,239    181,485 
Opening balance as at 01 March 2022 14,065    37,166    11,083    62,314 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 March 2022  
Additions 182,086    182,086 
Transfer to/from tangible fixed assets  
Disposals  
At 28 February 2023 182,086    182,086 

2