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REGISTERED NUMBER: 05767105 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

FOR

WESLEY MARINE WINDOWS LTD

WESLEY MARINE WINDOWS LTD (REGISTERED NUMBER: 05767105)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESLEY MARINE WINDOWS LTD

COMPANY INFORMATION
for the Year Ended 31st May 2023







DIRECTORS: Mrs A Dickinson
G Jackson
Mrs J J Jackson





REGISTERED OFFICE: Ossington Chambers
6-8 Castlegate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 05767105 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

WESLEY MARINE WINDOWS LTD (REGISTERED NUMBER: 05767105)

BALANCE SHEET
31st May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,834 19,736

CURRENT ASSETS
Stocks 110,835 111,139
Debtors 5 23,077 23,903
Cash at bank and in hand 349 5
134,261 135,047
CREDITORS
Amounts falling due within one year 6 165,718 151,247
NET CURRENT LIABILITIES (31,457 ) (16,200 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(14,623

)

3,536

CREDITORS
Amounts falling due after more than one
year

7

21,460

36,126
NET LIABILITIES (36,083 ) (32,590 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (36,183 ) (32,690 )
SHAREHOLDERS' FUNDS (36,083 ) (32,590 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

WESLEY MARINE WINDOWS LTD (REGISTERED NUMBER: 05767105)

BALANCE SHEET - continued
31st May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th February 2024 and were signed on its behalf by:





Mrs A Dickinson - Director


WESLEY MARINE WINDOWS LTD (REGISTERED NUMBER: 05767105)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2023

1. STATUTORY INFORMATION

Wesley Marine Windows Ltd 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.

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 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 reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

WESLEY MARINE WINDOWS LTD (REGISTERED NUMBER: 05767105)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st June 2022 16,467 13,643 23,997 862 54,969
Additions - - - 1,849 1,849
At 31st May 2023 16,467 13,643 23,997 2,711 56,818
DEPRECIATION
At 1st June 2022 13,540 6,678 14,153 862 35,233
Charge for year 732 1,044 2,461 514 4,751
At 31st May 2023 14,272 7,722 16,614 1,376 39,984
NET BOOK VALUE
At 31st May 2023 2,195 5,921 7,383 1,335 16,834
At 31st May 2022 2,927 6,965 9,844 - 19,736

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 8,353 13,195
Amounts recoverable on contract 8,095 8,578
Prepayments 6,629 2,130
23,077 23,903

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts 36,269 42,580
Trade creditors 67,745 52,032
Social security and other taxes 4,546 1,862
VAT 7,766 10,382
Other creditors 8,915 16,882
Directors' current accounts 38,551 26,309
Accrued expenses 1,926 1,200
165,718 151,247

WESLEY MARINE WINDOWS LTD (REGISTERED NUMBER: 05767105)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Bank loans - 1-2 years 11,040 15,706
Bank loans - 2-5 years 10,420 20,420
21,460 36,126

8. SECURED DEBTS

The following secured debts are included within creditors:

31/5/23 31/5/22
£    £   
Bank overdrafts 20,563 17,540

There is a general charge over the assets of the company by Lloyds Bank plc.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/23 31/5/22
value: £    £   
100 Ordinary £1 100 100

10. CONTINGENT LIABILITIES

There were no contingent liabilities at 31st May 2023 and 31st May 2022.

11. CAPITAL COMMITMENTS
31/5/23 31/5/22
£    £   
Contracted but not provided for in the
financial statements - -