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Registered Number: 04920032
England

 

 

 

WASH EXPRESS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2019

End date: 30 November 2020
 
 
Notes
 
2020
£
  2019
£
Fixed assets      
Intangible fixed assets 3 74,664    74,664 
Tangible fixed assets 4 718,010    752,015 
Investments   150,000 
792,674    976,679 
Current assets      
Debtors 5 6,190    6,190 
Cash at bank and in hand 27,338    5,303 
33,528    11,493 
Creditors: amount falling due within one year 6 (3,970)   (3,970)
Net current assets 29,558    7,523 
 
Total assets less current liabilities 822,232    984,202 
Creditors: amount falling due after more than one year 7 (300,795)   (450,000)
Net assets 521,437    534,202 
 

Capital and reserves
     
Called up share capital 8 1    1 
Reserves 9 452,030    452,030 
Profit and loss account 69,406    81,376 
Shareholder's funds 521,437    533,407 
 


For the year ended 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 April 2024 and were signed by:


-------------------------------
Salim Ahmed Khankhara
Director
1
General Information
WASH EXPRESS LIMITED is a private company, limited by shares, registered in England, registration number 04920032, registration address 67 Plashet Grove, East Ham, Greater London, E6 1AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2019 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2019 74,664    74,664 
Additions  
Disposals  
At 30 November 2020 74,664    74,664 
Amortisation
At 01 December 2019  
Charge for year  
On disposals  
At 30 November 2020  
Net book values
At 30 November 2020 74,664    74,664 
At 30 November 2019 74,664    74,664 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 December 2019 197,970    159,253    357,223 
Additions    
Disposals    
Revaluations 452,030      452,030 
At 30 November 2020 650,000    159,253    809,253 
Depreciation
At 01 December 2019   57,238    57,238 
Charge for year   34,005    34,005 
On disposals    
At 30 November 2020   91,243    91,243 
Net book values
Closing balance as at 30 November 2020 650,000    68,010    718,010 
Opening balance as at 01 December 2019 650,000    102,015    752,015 


5.

Debtors: amounts falling due within one year

2020
£
  2019
£
Trade Debtors 6,190    6,190 
6,190    6,190 

6.

Creditors: amount falling due within one year

2020
£
  2019
£
Trade Creditors 3,641    3,641 
Corporation Tax 329    329 
3,970    3,970 

7.

Creditors: amount falling due after more than one year

2020
£
  2019
£
Bank Loans & Overdrafts (secured) 300,000    450,000 
Other Creditors 795   
300,795    450,000 

8.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2020
£
  2019
£
1 Class A share of £1.00 each  
 

9.

Reserves

2020
£
  2019
£
Revaluation of Fixed Assets 366,145    366,145 
Deferred Tax Provided on Revaluation 85,885    85,885 
452,030    452,030 

2