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REGISTERED NUMBER: 04762358 (England and Wales)















WA'SHUM AND DRY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






WA'SHUM AND DRY LIMITED (REGISTERED NUMBER: 04762358)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


WA'SHUM AND DRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: M J Shum
Mrs F Shum





SECRETARY: Mrs F Shum





REGISTERED OFFICE: Greystones
18 Buckthorn Avenue
Skegness
Lincolnshire
PE25 3DE





REGISTERED NUMBER: 04762358 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS

WA'SHUM AND DRY LIMITED (REGISTERED NUMBER: 04762358)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,073 44,562

CURRENT ASSETS
Stocks 5 105 100
Debtors 6 1,865 8,030
Cash at bank 468,920 357,507
470,890 365,637
CREDITORS
Amounts falling due within one year 7 76,030 46,054
NET CURRENT ASSETS 394,860 319,583
TOTAL ASSETS LESS CURRENT LIABILITIES 441,933 364,145

PROVISIONS FOR LIABILITIES 8,944 8,467
NET ASSETS 432,989 355,678

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 432,889 355,578
SHAREHOLDERS' FUNDS 432,989 355,678

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 14 October 2023 and were signed on its behalf by:





M J Shum - Director


WA'SHUM AND DRY LIMITED (REGISTERED NUMBER: 04762358)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Wa'shum and Dry 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Turnover represents amounts charged to customers for goods and services provided during the year, excluding value added tax.

Property, plant & equipment
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 - 15% on reducing balance
Motor vehicles - 33% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


WA'SHUM AND DRY LIMITED (REGISTERED NUMBER: 04762358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2022 193,453 14,049 207,502
Additions 11,250 - 11,250
Disposals (5,362 ) - (5,362 )
At 31 July 2023 199,341 14,049 213,390
DEPRECIATION
At 1 August 2022 155,198 7,742 162,940
Charge for year 6,407 2,081 8,488
Eliminated on disposal (5,111 ) - (5,111 )
At 31 July 2023 156,494 9,823 166,317
NET BOOK VALUE
At 31 July 2023 42,847 4,226 47,073
At 31 July 2022 38,255 6,307 44,562

5. STOCKS
2023 2022
£    £   
Finished goods 105 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,865 8,030

WA'SHUM AND DRY LIMITED (REGISTERED NUMBER: 04762358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,283 5,507
Taxation and social security 44,668 37,204
Other creditors 16,079 3,343
76,030 46,054

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
M J Shum and Mrs F Shum
Balance outstanding at start of year 6,292 (803 )
Amounts advanced 7,626 7,095
Amounts repaid (46,300 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (32,382 ) 6,292

The directors' loan accounts are unsecured, repayable on demand and interest free.