Registered number
04257891
WDC Creative Limited
Filleted Accounts
31 July 2023
WDC Creative Limited
Registered number: 04257891
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 34,677 35,471
Current assets
Debtors 4 96,086 81,865
Cash at bank and in hand 338,305 270,062
434,391 351,927
Creditors: amounts falling due within one year 5 (241,259) (199,512)
Net current assets 193,132 152,415
Total assets less current liabilities 227,809 187,886
Provisions for liabilities (5,354) (3,731)
Net assets 222,455 184,155
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 221,455 183,155
Shareholders' funds 222,455 184,155
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Director's responsibilities
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Helen Elizabeth West
Director
Approved by the board on 6 March 2024
WDC Creative Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 18% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 126,844
Additions 6,817
At 31 July 2023 133,661
Depreciation
At 1 August 2022 91,373
Charge for the year 7,611
At 31 July 2023 98,984
Net book value
At 31 July 2023 34,677
At 31 July 2022 35,471
4 Debtors 2023 2022
£ £
Trade debtors 96,086 81,865
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 96,527 63,120
Other creditors 144,732 136,392
241,259 199,512
6 Related party transactions
The company paid dividends of £78,500 (2022 - £82,000) to the directors, Mr Jason West and Mrs Helen Elizabeth West.
7 Controlling party
The company is controlled by the directors, Mr Jason West and Mrs Helen Elizabeth West.
8 Other information
WDC Creative Limited is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor
Studio 14
14 Little Lever Street
Manchester
M1 1HR
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