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REGISTERED NUMBER: 11987819 (England and Wales)















WEST AND WALES DECORATING CENTRES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2023






WEST AND WALES DECORATING CENTRES LTD (REGISTERED NUMBER: 11987819)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEST AND WALES DECORATING CENTRES LTD

COMPANY INFORMATION
for the Year Ended 30 SEPTEMBER 2023







DIRECTORS: Mr M L Morgan
Mrs C E Morgan





REGISTERED OFFICE: Jumaro
Gwbert
Cardigan
Ceredigion
SA43 1PP





REGISTERED NUMBER: 11987819 (England and Wales)





ACCOUNTANTS: D M B Davies Limited
Broyan House
Priory Street
Cardigan
Ceredigion
SA43 1BZ

WEST AND WALES DECORATING CENTRES LTD (REGISTERED NUMBER: 11987819)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,435 22,705

CURRENT ASSETS
Stocks 29,852 35,000
Debtors 5 32,202 41,693
Cash in hand 100 100
62,154 76,793
CREDITORS
Amounts falling due within one year 6 85,666 111,945
NET CURRENT LIABILITIES (23,512 ) (35,152 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,077

)

(12,447

)

CREDITORS
Amounts falling due after more than one
year

7

(13,667

)

(59,484

)

PROVISIONS FOR LIABILITIES (1,576 ) (2,993 )
NET LIABILITIES (20,320 ) (74,924 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (20,330 ) (74,934 )
(20,320 ) (74,924 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WEST AND WALES DECORATING CENTRES LTD (REGISTERED NUMBER: 11987819)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr M L Morgan - Director


WEST AND WALES DECORATING CENTRES LTD (REGISTERED NUMBER: 11987819)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

West and Wales Decorating Centres Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

WEST AND WALES DECORATING CENTRES LTD (REGISTERED NUMBER: 11987819)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2022
and 30 September 2023 5,618 7,250 5,678
DEPRECIATION
At 1 October 2022 - 4,192 2,710
Charge for year - 764 742
At 30 September 2023 - 4,956 3,452
NET BOOK VALUE
At 30 September 2023 5,618 2,294 2,226
At 30 September 2022 5,618 3,058 2,968

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 20,995 915 40,456
DEPRECIATION
At 1 October 2022 10,440 409 17,751
Charge for year 2,638 126 4,270
At 30 September 2023 13,078 535 22,021
NET BOOK VALUE
At 30 September 2023 7,917 380 18,435
At 30 September 2022 10,555 506 22,705

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,947 38,354
Other debtors 14,255 3,339
32,202 41,693

WEST AND WALES DECORATING CENTRES LTD (REGISTERED NUMBER: 11987819)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 SEPTEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 41,229 11,353
Hire purchase contracts 2,401 11,989
Trade creditors 13,988 64,678
Taxation and social security 7,679 4,548
Other creditors 20,369 19,377
85,666 111,945

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 7,363 -
Other creditors 6,304 59,484
13,667 59,484