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REGISTERED NUMBER: 06051196 (England and Wales)















W B Wales S.E. Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023






W B Wales S.E. Limited (Registered number: 06051196)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W B Wales S.E. Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J Grant
A J Griffiths





SECRETARY: J Grant





REGISTERED OFFICE: Parkfield
Cot Hill
Llanwern
Newport
Gwent
NP18 2DP





REGISTERED NUMBER: 06051196 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

W B Wales S.E. Limited (Registered number: 06051196)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 38,660 4,062
38,660 4,062

CURRENT ASSETS
Stocks 2,107 2,000
Debtors 6 36,027 80,130
Cash at bank 11,994 35,786
50,128 117,916
CREDITORS
Amounts falling due within one year 7 58,173 80,406
NET CURRENT (LIABILITIES)/ASSETS (8,045 ) 37,510
TOTAL ASSETS LESS CURRENT LIABILITIES 30,615 41,572

CREDITORS
Amounts falling due after more than one year 8 (17,593 ) (27,718 )

PROVISIONS FOR LIABILITIES (7,346 ) (772 )
NET ASSETS 5,676 13,082

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,576 12,982
SHAREHOLDERS' FUNDS 5,676 13,082

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

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

The directors acknowledge their 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.

W B Wales S.E. Limited (Registered number: 06051196)

Balance Sheet - continued
31 July 2023


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 Board of Directors and authorised for issue on 15 January 2024 and were signed on its behalf by:





A J Griffiths - Director


W B Wales S.E. Limited (Registered number: 06051196)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

W B Wales S.E. 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Swimming lesson income is included in turnover on the date of the lesson. Lessons paid in advance are included in deferred income in creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

W B Wales S.E. Limited (Registered number: 06051196)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Employer financed retirement benefit scheme
During the year ended 31 March 2012 the Company established an employer financed retirement benefit scheme for the benefit of its officers, employees and their wider families, The W B Wales S.E. Limited Employer Financed Retirement Benefit Scheme ("The Scheme")

The Company does not include the assets and liabilities of the Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits.

In 2019 a settlement was agreed for this scheme.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 67,500
AMORTISATION
At 1 August 2022
and 31 July 2023 67,500
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 15,553 - 30,947 46,500
Additions - 38,404 - 38,404
At 31 July 2023 15,553 38,404 30,947 84,904
DEPRECIATION
At 1 August 2022 13,909 - 28,529 42,438
Charge for year 747 1,920 1,139 3,806
At 31 July 2023 14,656 1,920 29,668 46,244
NET BOOK VALUE
At 31 July 2023 897 36,484 1,279 38,660
At 31 July 2022 1,644 - 2,418 4,062

W B Wales S.E. Limited (Registered number: 06051196)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 1,022 932
Other debtors 35,005 79,198
36,027 80,130

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 11,095 10,615
Trade creditors 2,764 7,544
Taxation and social security 19,206 16,711
Other creditors 25,108 45,536
58,173 80,406

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 17,593 27,718

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
J Grant
Balance outstanding at start of year 9,766 7,018
Amounts advanced 38,981 31,599
Amounts repaid (31,845 ) (28,851 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,902 9,766

A J Griffiths
Balance outstanding at start of year 9,936 1,595
Amounts advanced 38,168 34,522
Amounts repaid (30,000 ) (26,181 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,104 9,936

10. RELATED PARTY DISCLOSURES

During the year, the company had transactions with a company under common control. At the balance sheet date, the balance was still outstanding and is presented within creditors amounts falling due within one year. The balance at the year end was £13,327 (2022: £56,636 debtor).