5 false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 335,000 261,300 18,425 279,725 55,275 73,700 xbrli:pure xbrli:shares iso4217:GBP 06319702 2022-11-01 2023-10-31 06319702 2023-10-31 06319702 2022-10-31 06319702 2021-11-01 2022-10-31 06319702 2022-10-31 06319702 core:NetGoodwill 2022-11-01 2023-10-31 06319702 core:MotorVehicles 2022-11-01 2023-10-31 06319702 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 06319702 bus:Director1 2022-11-01 2023-10-31 06319702 core:NetGoodwill 2022-10-31 06319702 core:NetGoodwill 2023-10-31 06319702 core:MotorVehicles 2023-10-31 06319702 core:WithinOneYear 2023-10-31 06319702 core:WithinOneYear 2022-10-31 06319702 core:ShareCapital 2023-10-31 06319702 core:ShareCapital 2022-10-31 06319702 core:RetainedEarningsAccumulatedLosses 2023-10-31 06319702 core:RetainedEarningsAccumulatedLosses 2022-10-31 06319702 core:NetGoodwill 2022-10-31 06319702 bus:SmallEntities 2022-11-01 2023-10-31 06319702 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 06319702 bus:FullAccounts 2022-11-01 2023-10-31 06319702 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 06319702 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 06319702 bus:OrdinaryShareClass1 2023-10-31 06319702 bus:OrdinaryShareClass1 2022-10-31 06319702 core:OfficeEquipment 2022-11-01 2023-10-31 06319702 core:OfficeEquipment 2022-10-31 06319702 core:OfficeEquipment 2023-10-31
COMPANY REGISTRATION NUMBER: 06319702
West Country Doors London Limited
Filleted Unaudited Financial Statements
31 October 2023
West Country Doors London Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
55,275
73,700
Tangible assets
6
8,587
5,160
--------
--------
63,862
78,860
Current assets
Stocks
7,758
4,560
Debtors
7
115,992
93,545
Cash at bank and in hand
29,898
64,996
---------
---------
153,648
163,101
Creditors: amounts falling due within one year
8
116,929
170,730
---------
---------
Net current assets/(liabilities)
36,719
( 7,629)
---------
--------
Total assets less current liabilities
100,581
71,231
Provisions
Taxation including deferred tax
2,147
980
---------
--------
Net assets
98,434
70,251
---------
--------
West Country Doors London Limited
Statement of Financial Position (continued)
31 October 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss account
97,434
69,251
--------
--------
Shareholders funds
98,434
70,251
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 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 were approved by the board of directors and authorised for issue on 22 March 2024 , and are signed on behalf of the board by:
Mr N H Phillips
Director
Company registration number: 06319702
West Country Doors London Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is Unit 3 Riverside, Riverside Way, Seaton, Devon, EX12 2UE.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS 102 taking advantage of the disclosure exemptions of FRS 102.
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 entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
33% straight line
Equipment
-
25% reducing balance
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
335,000
---------
Amortisation
At 1 November 2022
261,300
Charge for the year
18,425
---------
At 31 October 2023
279,725
---------
Carrying amount
At 31 October 2023
55,275
---------
At 31 October 2022
73,700
---------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 November 2022
32,014
32,014
Additions
4,995
4,995
-------
--------
--------
At 31 October 2023
4,995
32,014
37,009
-------
--------
--------
Depreciation
At 1 November 2022
26,854
26,854
Charge for the year
278
1,290
1,568
-------
--------
--------
At 31 October 2023
278
28,144
28,422
-------
--------
--------
Carrying amount
At 31 October 2023
4,717
3,870
8,587
-------
--------
--------
At 31 October 2022
5,160
5,160
-------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
110,201
91,261
Other debtors
5,791
2,284
---------
--------
115,992
93,545
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
51,432
51,876
Corporation tax
10,798
9,750
Social security and other taxes
7,536
10,388
Other creditors
47,163
98,716
---------
---------
116,929
170,730
---------
---------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
6,100
4,325
-------
-------
11. Directors' advances, credits and guarantees
During the year the Company advanced £100 to J Calado, this loan being interest free.