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REGISTERED NUMBER: 12221375 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Devon Wick Candle Co. Limited

Devon Wick Candle Co. Limited (Registered number: 12221375)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Devon Wick Candle Co. Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: C Ryder
Miss S A Weeks





REGISTERED OFFICE: Unit C, Armada Point
Estover Trading Estate
Plymouth
Devon
PL6 7PY





REGISTERED NUMBER: 12221375 (England and Wales)





ACCOUNTANTS: Bromhead
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

Devon Wick Candle Co. Limited (Registered number: 12221375)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,707 66,261

CURRENT ASSETS
Stocks 68,903 217,263
Debtors 5 35,678 70,796
Cash at bank 119,039 85,941
223,620 374,000
CREDITORS
Amounts falling due within one year 6 117,214 176,059
NET CURRENT ASSETS 106,406 197,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,113

264,202

CREDITORS
Amounts falling due after more than one
year

7

(19,062

)

(38,075

)

PROVISIONS FOR LIABILITIES (7,734 ) (12,590 )
NET ASSETS 120,317 213,537

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 120,315 213,535
120,317 213,537

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

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

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 21 February 2024 and were signed on its behalf by:





C Ryder - Director


Devon Wick Candle Co. Limited (Registered number: 12221375)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Devon Wick Candle Co. 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.

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 17 ) .

Devon Wick Candle Co. Limited (Registered number: 12221375)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 91,975
Additions 2,584
Disposals (24,679 )
At 31 December 2023 69,880
DEPRECIATION
At 1 January 2023 25,714
Charge for year 11,563
Eliminated on disposal (8,104 )
At 31 December 2023 29,173
NET BOOK VALUE
At 31 December 2023 40,707
At 31 December 2022 66,261

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 21,234 33,758
Other debtors 14,444 37,038
35,678 70,796

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 22,245 28,028
Trade creditors 30,199 32,401
Taxation and social security 36,333 60,264
Other creditors 28,437 55,366
117,214 176,059

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 19,062 38,075

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 56,467 50,000
Between one and five years 24,667 50,000
81,134 100,000

Devon Wick Candle Co. Limited (Registered number: 12221375)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

9. ULTIMATE CONTROLLING PARTY

The directors C Ryder and S Weeks are the ultimate controlling party by way of the shares they own in the parent company C S Ryder Holdings Limited.