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Company No: 00821571 (England and Wales)

WROXHAM BUILDERS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

WROXHAM BUILDERS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

WROXHAM BUILDERS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
WROXHAM BUILDERS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 95,645 119,568
95,645 119,568
Current assets
Stocks 4 259,637 189,678
Debtors
- due within one year 5 39,140 55,254
- due after more than one year 5 50,000 150,000
Cash at bank and in hand 210,078 162,978
558,855 557,910
Creditors: amounts falling due within one year 6 ( 248,990) ( 297,112)
Net current assets 309,865 260,798
Total assets less current liabilities 405,510 380,366
Creditors: amounts falling due after more than one year 7 0 ( 4,951)
Provision for liabilities 8 ( 24,179) ( 29,267)
Net assets 381,331 346,148
Capital and reserves
Called-up share capital 16,500 16,500
Capital redemption reserve 37,500 37,500
Profit and loss account 327,331 292,148
Total shareholders' funds 381,331 346,148

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Wroxham Builders Ltd (registered number: 00821571) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Claire Louise Hurrell
Director

28 March 2024

WROXHAM BUILDERS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
WROXHAM BUILDERS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wroxham Builders Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 Station Business Park Horning Road West, Hoveton, Norwich, NR12 8QJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 15 % reducing balance
5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 9

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 October 2022 138,422 142,519 17,699 298,640
Additions 4,668 1,667 583 6,918
At 30 September 2023 143,090 144,186 18,282 305,558
Accumulated depreciation
At 01 October 2022 91,246 79,662 8,164 179,072
Charge for the financial year 11,208 17,103 2,530 30,841
At 30 September 2023 102,454 96,765 10,694 209,913
Net book value
At 30 September 2023 40,636 47,421 7,588 95,645
At 30 September 2022 47,176 62,857 9,535 119,568

4. Stocks

2023 2022
£ £
Stocks 259,637 189,678

5. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Trade debtors 28,015 46,551
Other debtors 11,125 8,703
39,140 55,254
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 50,000 150,000

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 81,387 137,972
CIS withheld 10,847 7,017
Taxation and social security 91,727 135,957
Other creditors 65,029 16,166
248,990 297,112

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 0 4,951

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

2023 2022
£ £
Deferred tax 24,179 29,267