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REGISTERED NUMBER: 01464666 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WESTERN CASTORS AND WHEELS LIMITED

WESTERN CASTORS AND WHEELS LIMITED (REGISTERED NUMBER: 01464666)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTERN CASTORS AND WHEELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr P Merriam
Mr K B Moore



REGISTERED OFFICE: C/O Western Industrial
Linhay Business Park
Eastern Road
Ashburton
Devon
TQ13 7UP



REGISTERED NUMBER: 01464666 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds Bank Plc
41 Courtenay Street
Newton Abbot
Devon
TQ12 2EA

WESTERN CASTORS AND WHEELS LIMITED (REGISTERED NUMBER: 01464666)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 120,089 114,733

CURRENT ASSETS
Stocks 5 10,000 10,293
Debtors 6 981,679 868,098
Cash at bank and in hand 968,154 754,375
1,959,833 1,632,766
CREDITORS
Amounts falling due within one year 7 936,133 789,516
NET CURRENT ASSETS 1,023,700 843,250
TOTAL ASSETS LESS CURRENT LIABILITIES 1,143,789 957,983

PROVISIONS FOR LIABILITIES 17,090 8,788
NET ASSETS 1,126,699 949,195

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 1,123,699 946,195
SHAREHOLDERS' FUNDS 1,126,699 949,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

WESTERN CASTORS AND WHEELS LIMITED (REGISTERED NUMBER: 01464666)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:




Mr K B Moore - Director



Mr P Merriam - Director


WESTERN CASTORS AND WHEELS LIMITED (REGISTERED NUMBER: 01464666)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Western Castors and Wheels Limited 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.
Long leasehold - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 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 Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

WESTERN CASTORS AND WHEELS LIMITED (REGISTERED NUMBER: 01464666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 45,076 49,685 75,627 119,639 290,027
Additions - 12,950 6,018 25,480 44,448
Disposals - (37,446 ) (53,403 ) (39,626 ) (130,475 )
At 31 December 2023 45,076 25,189 28,242 105,493 204,000
DEPRECIATION
At 1 January 2023 19,228 37,569 62,902 55,595 175,294
Charge for year 4,508 4,681 5,838 22,373 37,400
Eliminated on disposal - (35,788 ) (53,403 ) (39,592 ) (128,783 )
At 31 December 2023 23,736 6,462 15,337 38,376 83,911
NET BOOK VALUE
At 31 December 2023 21,340 18,727 12,905 67,117 120,089
At 31 December 2022 25,848 12,116 12,725 64,044 114,733

5. STOCKS
2023 2022
£    £   
Stocks 10,000 10,293

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 655,766 536,004
Other debtors 305,874 303,308
Directors' current accounts 16,792 28,786
Prepayments 3,247 -
981,679 868,098

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 393,433 415,462
Tax 119,046 129,014
Social security and other taxes 16,157 11,222
VAT 221,702 139,816
Other creditors 108,999 16,521
Directors' current accounts 74,456 60,731
Accrued expenses 2,340 16,750
936,133 789,516

WESTERN CASTORS AND WHEELS LIMITED (REGISTERED NUMBER: 01464666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. OTHER FINANCIAL COMMITMENTS

At 31/12/2023, the company had total commitments under non-cancellable operating leases over the remaining life of the those leases of £71,560 (31/12/2022 £77,383).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr K B Moore
Balance outstanding at start of year 28,786 26,631
Amounts advanced 136,983 139,199
Amounts repaid (148,977 ) (137,044 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,792 28,786

Mr P Merriam
Balance outstanding at start of year (60,731 ) (53,411 )
Amounts advanced 87,424 138,824
Amounts repaid (101,149 ) (146,144 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (74,456 ) (60,731 )

Loan interest free and repayable on demand (2022 interest charged at 2.5%)

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £207,000 (2022 - £270,550) were paid to the directors .

There is an intercompany loan with Linhay Investments Limited, at the year end the amount owed to the Company was £295,954 (2022: £295,954).