Company Registration No. 10474120 (England and Wales)
Wolves Removals Limited
Unaudited accounts
for the year ended 31 January 2024
Wolves Removals Limited
Unaudited accounts
Contents
Wolves Removals Limited
Company Information
for the year ended 31 January 2024
Company Number
10474120 (England and Wales)
Registered Office
Unit 3, Townhouse Farm
Dukes Hill, Thakeham
Pulborough
West Sussex
RH20 3EW
Accountants
Ian Sykes and Co Limited
1 Windlesham Gardens
Shoreham by Sea
West Sussex
BN43 5AD
Wolves Removals Limited
Statement of financial position
as at 31 January 2024
Tangible assets
59,370
83,801
Cash at bank and in hand
100,833
110,452
Creditors: amounts falling due within one year
(42,390)
(69,541)
Net current assets
58,443
41,291
Total assets less current liabilities
117,813
125,092
Creditors: amounts falling due after more than one year
(23,038)
(36,080)
Provisions for liabilities
Deferred tax
(11,280)
(15,922)
Called up share capital
100
100
Profit and loss account
83,395
72,990
Shareholders' funds
83,495
73,090
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 February 2024 and were signed on its behalf by
Jack Wolfe
Director
Company Registration No. 10474120
Wolves Removals Limited
Notes to the Accounts
for the year ended 31 January 2024
Wolves Removals Limited is a private company, limited by shares, registered in England and Wales, registration number 10474120. The registered office is Unit 3, Townhouse Farm, Dukes Hill, Thakeham, Pulborough, West Sussex, RH20 3EW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
Revenue, described as turnover, is the value of goods provided to customers during the year, plus the value of work performed during the year with respect to services.
Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on the completion of each individual assignment.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax has been provided in respect of taxation deferred by timing differences (including fair value adjustments) between the treatment of certain items for taxation and accounting purposes except where losses are available to set against the future tax liability. A deferred tax asset is only recognised to the extent that it is recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.
Wolves Removals Limited
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Motor vehicles
At 1 February 2023
110,096
At 31 January 2024
110,096
Charge for the year
24,431
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
53,243
70,990
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,996
2,996
Obligations under finance leases and hire purchase contracts
8,874
6,655
Taxes and social security
16,503
-
Loans from directors
12,042
15,371
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
18,794
28,840
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).