Registered number
07721575
Welling Doors Ltd
Filleted Accounts
For the year ended 31 July 2023
Welling Doors Ltd
Registered number: 07721575
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 412 -
Current assets
Stocks 3,800 5,100
Debtors 4 25,483 53,146
Cash at bank and in hand 6,078 12,888
35,361 71,134
Creditors: amounts falling due within one year 5 (29,786) (63,311)
Net current assets 5,575 7,823
Total assets less current liabilities 5,987 7,823
Creditors: amounts falling due after more than one year 6 (5,536) (7,289)
Provisions for liabilities (78) -
Net assets 373 534
Capital and reserves
Called up share capital 20 20
Profit and loss account 353 514
Shareholder's funds 373 534
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 22 July 2024
S A Kovacs
Director
Welling Doors Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 20% per annum on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures fittings and equipment
£
Cost
At 1 August 2022 1,517
Additions 450
Disposals (591)
At 31 July 2023 1,376
Depreciation
At 1 August 2022 1,517
Charge for the year 38
On disposals (591)
At 31 July 2023 964
Net book value
At 31 July 2023 412
At 31 July 2022 -
4 Debtors 2023 2022
£ £
Trade debtors 20,748 53,146
Other debtors 4,735 -
25,483 53,146
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 24,059 58,879
Other creditors 5,727 4,432
29,786 63,311
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,536 7,289
7 Other information
Welling Doors Ltd is a private company limited by shares and incorporated in England. Its registered office is 61 Highbanks Close, Welling, Kent DA16 3ES.
Welling Doors Ltd 07721575 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts April 2022 S A Kovacs No description of principal activity 07721575 2021-08-01 2022-07-31 07721575 core:WithinOneYear 2022-07-31 07721575 core:AfterOneYear 2022-07-31 07721575 core:ShareCapital 2022-07-31 07721575 core:RetainedEarningsAccumulatedLosses 2022-07-31 07721575 2022-08-01 2023-07-31 07721575 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07721575 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 07721575 bus:Director40 2022-08-01 2023-07-31 07721575 1 2022-08-01 2023-07-31 07721575 2 2022-08-01 2023-07-31 07721575 core:PlantMachinery 2022-08-01 2023-07-31 07721575 countries:England 2022-08-01 2023-07-31 07721575 bus:FRS102 2022-08-01 2023-07-31 07721575 bus:FullAccounts 2022-08-01 2023-07-31 07721575 2023-07-31 07721575 core:WithinOneYear 2023-07-31 07721575 core:AfterOneYear 2023-07-31 07721575 core:ShareCapital 2023-07-31 07721575 core:RetainedEarningsAccumulatedLosses 2023-07-31 07721575 core:PlantMachinery 2023-07-31 07721575 2022-07-31 07721575 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure