Company Registration No. 12176434 (England and Wales)
WINGS@NORTON LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
WINGS@NORTON LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
WINGS@NORTON LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,919
6,066
Current assets
Cash at bank and in hand
10,691
5,940
Creditors: amounts falling due within one year
(46,094)
(47,760)
Net current liabilities
(35,403)
(41,820)
Net liabilities
(32,484)
(35,754)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(32,584)
(35,854)
Total equity
(32,484)
(35,754)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 by the board of directors and authorised for issue on 3 April 2024 and are signed on its behalf by:
Ms N Diddams
Director
Company registration number 12176434 (England and Wales)
WINGS@NORTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information

Wings@Norton Limited is a private company limited by shares incorporated in England and Wales. The registered office is TF Back Unit, Wildwinds Barn, Norton Crossroads, London Road, Teynham, Kent, ME9 9JY.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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% Straight Line
Fixtures and fittings
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

WINGS@NORTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2022 and 31 August 2023
8,445
4,141
12,586
Depreciation and impairment
At 1 September 2022
4,222
2,298
6,520
Depreciation charged in the year
2,112
1,035
3,147
At 31 August 2023
6,334
3,333
9,667
Carrying amount
At 31 August 2023
2,111
808
2,919
At 31 August 2022
4,223
1,843
6,066
5
Directors' transactions
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Miss N Diddams
(1,641)
18,400
(18,400)
(1,641)
(1,641)
18,400
(18,400)
(1,641)
WINGS@NORTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
6
Related Party Transactions

At the balance sheet date, the company owed Wings Nursery Ltd £42,565 (2022 - £42,998). Ms N Diddams and Ms P Smitherman are both directors of Wings Nursery Ltd

 

2023-08-312022-09-01false03 April 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMs N DiddamsMs P Smithermanfalsefalse121764342022-09-012023-08-31121764342023-08-31121764342022-08-3112176434core:PlantMachinery2023-08-3112176434core:FurnitureFittings2023-08-3112176434core:PlantMachinery2022-08-3112176434core:FurnitureFittings2022-08-3112176434core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3112176434core:CurrentFinancialInstrumentscore:WithinOneYear2022-08-3112176434core:ShareCapital2023-08-3112176434core:ShareCapital2022-08-3112176434core:RetainedEarningsAccumulatedLosses2023-08-3112176434core:RetainedEarningsAccumulatedLosses2022-08-3112176434bus:Director12022-09-012023-08-3112176434core:PlantMachinery2022-09-012023-08-3112176434core:FurnitureFittings2022-09-012023-08-31121764342021-09-012022-08-3112176434core:PlantMachinery2022-08-3112176434core:FurnitureFittings2022-08-31121764342022-08-3112176434bus:PrivateLimitedCompanyLtd2022-09-012023-08-3112176434bus:SmallCompaniesRegimeForAccounts2022-09-012023-08-3112176434bus:FRS1022022-09-012023-08-3112176434bus:AuditExempt-NoAccountantsReport2022-09-012023-08-3112176434bus:Director22022-09-012023-08-3112176434bus:FullAccounts2022-09-012023-08-31xbrli:purexbrli:sharesiso4217:GBP