Company registration number 05833453 (England and Wales)
WEST MIDLANDS HISTORY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
WEST MIDLANDS HISTORY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WEST MIDLANDS HISTORY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
129,114
68,949
Debtors
5
5,192
1,459
Cash at bank and in hand
13
469
134,319
70,877
Creditors: amounts falling due within one year
6
(1,354,790)
(1,267,411)
Net current liabilities
(1,220,471)
(1,196,534)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(1,220,571)
(1,196,634)
Total equity
(1,220,471)
(1,196,534)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 31 July 2024
Mr M W Gibbs
Director
Company registration number 05833453 (England and Wales)
WEST MIDLANDS HISTORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

West Midlands History Limited is a private company limited by shares incorporated in England and Wales. The registered office is Minerva Mill Innovation Centre, Station Road, Alcester, Warwickshire, B49 5ET.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% Straight Line
1.4
Stock and work in progress

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

WEST MIDLANDS HISTORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.7

Going concern

The Director has satisfied himself that with his continued support the company will have adequate resources and facilities to meet its liabilities as they fall due for the foreseeable future. Therefore these accounts have been prepared on a going concern basis.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
1,095
Depreciation and impairment
At 1 April 2023 and 31 March 2024
1,095
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
WEST MIDLANDS HISTORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
566
265
Other debtors
4,626
1,194
5,192
1,459
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
24
6
Trade creditors
23,709
1,211
Other creditors
1,331,057
1,266,194
1,354,790
1,267,411
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100

 

8
Related party transactions

At the year end, £1,244,479 (2023: £1,169,509) was owed to the director. No interest has been charged on this amount and there is no fixed date for repayment, other than it is repayable on demand.

 

At the year end, the company owed £84,788 (2023: £95,290) to Sherborne Gibbs Limited, a company under the common control of the director. Transactions have been deemed to have occurred at arms length.

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