Company registration number 02649098 (England and Wales)
W.P.B. CONTRACTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
W.P.B. CONTRACTORS LIMITED
COMPANY INFORMATION
Director
Mr William Breen
Secretary
Mrs S M Breen
Company number
02649098
Registered office
UNIT 1, HERON BUSINESS CENTRE
HENWOOD
ASHFORD
KENT
TN24 8DH
Accountants
Koshal Associates ( Chartered Accountant)
Gautam House
1 - 3 Shenley Avenue
Ruislip Manor
Middlesex
HA4 6BP
Business address
UNIT 1, HERON BUSINESS CENTRE
HENWOOD
ASHFORD
KENT
TN24 8DH
W.P.B. CONTRACTORS LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 5
W.P.B. CONTRACTORS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF W.P.B. CONTRACTORS LIMITED FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W.P.B. Contractors Limited for the year ended 31 January 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that W.P.B. Contractors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W.P.B. Contractors Limited. You consider that W.P.B. Contractors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of W.P.B. Contractors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Koshal Associates ( Chartered Accountant)
10 April 2024
Gautam House
1 - 3 Shenley Avenue
Ruislip Manor
Middlesex
HA4 6BP
W.P.B. CONTRACTORS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
82,217
91,783
Current assets
Stocks
387,000
595,000
Debtors
4
1,473,953
866,871
Cash at bank and in hand
192,670
501,776
2,053,623
1,963,647
Creditors: amounts falling due within one year
5
(275,857)
(233,083)
Net current assets
1,777,766
1,730,564
Total assets less current liabilities
1,859,983
1,822,347
Creditors: amounts falling due after more than one year
6
(10,967)
(43,269)
Net assets
1,849,016
1,779,078
Capital and reserves
Called up share capital
25,750
25,750
Profit and loss reserves
1,823,266
1,753,328
Total equity
1,849,016
1,779,078
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 10 April 2024
Mr William Breen
Director
Company registration number 02649098 (England and Wales)
W.P.B. CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information
W.P.B. Contractors Limited is a private company limited by shares incorporated in England and Wales. The registered office is UNIT 1, HERON BUSINESS CENTRE, HENWOOD, ASHFORD, KENT, TN24 8DH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
W.P.B. CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
6
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2023
934,815
13,561
30,128
978,504
Additions
34,250
34,250
Disposals
(654,367)
(18,133)
(672,500)
At 31 January 2024
314,698
13,561
11,995
340,254
Depreciation and impairment
At 1 February 2023
845,915
12,465
28,341
886,721
Depreciation charged in the year
30,434
274
131
30,839
Eliminated in respect of disposals
(652,609)
(6,914)
(659,523)
At 31 January 2024
223,740
12,739
21,558
258,037
Carrying amount
At 31 January 2024
90,958
822
(9,563)
82,217
At 31 January 2023
88,900
1,096
1,787
91,783
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
203,543
279,011
Other debtors
1,270,410
587,860
1,473,953
866,871
W.P.B. CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
169,687
127,394
Corporation tax
35,900
29,194
Other taxation and social security
53,421
61,889
Other creditors
16,849
14,606
275,857
233,083
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
10,967
43,269