1 January 2023 v2024.10.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP053209462023-01-012023-12-31053209462023-12-31053209462022-12-3105320946core:WithinOneYear2023-12-3105320946core:WithinOneYear2022-12-3105320946core:ShareCapital2023-12-3105320946core:ShareCapital2022-12-3105320946core:RetainedEarningsAccumulatedLosses2023-12-3105320946core:RetainedEarningsAccumulatedLosses2022-12-3105320946bus:Director12023-01-012023-12-3105320946bus:RegisteredOffice2023-01-012023-12-3105320946core:PlantMachinery2023-01-012023-12-3105320946core:OfficeEquipment2023-01-012023-12-3105320946core:MotorVehicles2023-01-012023-12-31053209462022-01-012022-12-3105320946core:PlantMachinery2023-12-3105320946core:PlantMachinery2023-01-0105320946core:PlantMachinery2022-12-310532094612023-01-012023-12-3105320946countries:EnglandWales2023-01-012023-12-3105320946bus:AuditExemptWithAccountantsReport2023-01-012023-12-3105320946bus:PrivateLimitedCompanyLtd2023-01-012023-12-3105320946bus:SmallEntities2023-01-012023-12-3105320946bus:FullAccounts2023-01-012023-12-3105320946bus:Director22023-01-012023-12-31
Company registration number:
05320946
Wizard Builders Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Wizard Builders Ltd
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 5
64,572
 
99,573
 
Current assets    
Stocks
16,393
 
35,958
 
Debtors 6
342,986
 
230,175
 
Cash at bank and in hand -  
13,131
 
359,379
 
279,264
 
Creditors: amounts falling due within one year 7
(99,135
)
(82,605
)
Net current assets
260,244
 
196,659
 
Total assets less current liabilities 324,816   296,232  
Capital and reserves    
Called up share capital
10
 
10
 
Profit and loss account
324,806
 
296,222
 
Shareholders funds
324,816
 
296,232
 
For the year ending
31 December 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • 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;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
26 March 2024
, and are signed on behalf of the board by:
L Clayton
Director
Company registration number:
05320946
Wizard Builders Ltd
Notes to the Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Station Approach Thirsk Railway Station
,
Station Road
,
Thirsk
,
North Yorkshire
,
YO7 4LS
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line
Office equipment
20% straight line
Motor vehicles
20% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

4 Average number of employees

The average number of persons employed by the company during the year was
11
(2022:
9
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2023
and
31 December 2023
302,445
 
Depreciation  
At
1 January 2023
202,872
 
Charge
35,001
 
At
31 December 2023
237,873
 
Carrying amount  
At
31 December 2023
64,572
 
At 31 December 2022
99,573
 

6 Debtors

20232022
££
Trade debtors
66,190
 
5,119
 
Other debtors
276,796
 
225,056
 
342,986
 
230,175
 
In other debtors is a loan amount of £267,500 (2022 - £212,500) , of which is owed from a connected company. This amount is due in more than one year.

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
13,719
  -  
Trade creditors
20,159
 
24,874
 
Taxation and social security
62,206
 
55,233
 
Other creditors
3,051
 
2,498
 
99,135
 
82,605