1 April 2023 false No description of principal activity Taxfiler 2024.5 07462041business:PrivateLimitedCompanyLtd2023-04-012024-03-31 074620412023-03-31 074620412023-04-012024-03-31 07462041business:AuditExemptWithAccountantsReport2023-04-012024-03-31 07462041business:FilletedAccounts2023-04-012024-03-31 074620412024-03-31 07462041business:Director12023-04-012024-03-31 07462041business:Director22023-04-012024-03-31 07462041business:RegisteredOffice2023-04-012024-03-31 074620412023-03-31 07462041core:WithinOneYear2024-03-31 07462041core:WithinOneYear2023-03-31 07462041core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 07462041core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 07462041core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 07462041core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 07462041core:PreviouslyStatedAmount2024-03-31 07462041core:PreviouslyStatedAmount2023-03-31 07462041business:SmallEntities2023-04-012024-03-31 07462041countries:EnglandWales2023-04-012024-03-31 07462041core:PlantMachinery2023-04-012024-03-31 07462041core:MotorVehicles2023-04-012024-03-31 07462041core:FurnitureFittings2023-04-012024-03-31 07462041core:ComputerEquipment2023-04-012024-03-31 07462041core:PlantMachinery2023-03-31 07462041core:MotorVehicles2023-03-31 07462041core:FurnitureFittings2023-03-31 07462041core:ComputerEquipment2023-03-31 07462041core:PlantMachinery2024-03-31 07462041core:MotorVehicles2024-03-31 07462041core:FurnitureFittings2024-03-31 07462041core:ComputerEquipment2024-03-31 074620412022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 07462041 (England and Wales)
WASP INDUSTRIAL SERVICES LIMITED Unaudited accounts for the year ended 31 March 2024
WASP INDUSTRIAL SERVICES LIMITED Unaudited accounts Contents
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WASP INDUSTRIAL SERVICES LIMITED Company Information for the year ended 31 March 2024
Directors
Carol Ratcliffe Joe Ratcliffe
Company Number
07462041 (England and Wales)
Registered Office
KINGSDOWN INDUSTRIAL ESTATE KINGSDOWN ROAD SWINDON SN25 6PD ENGLAND
Accountants
Asset Accounting (Swindon) Ltd Second Floor 11-12 Market Place Faringdon Oxfordshire SN7 7HP
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WASP INDUSTRIAL SERVICES LIMITED Accountants' report
Accountants' report to the board of directors of WASP INDUSTRIAL SERVICES LIMITED (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 March 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Asset Accounting (Swindon) Ltd Second Floor 11-12 Market Place Faringdon Oxfordshire SN7 7HP 15 July 2024
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WASP INDUSTRIAL SERVICES LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,176 
14,006 
Current assets
Inventories
26,666 
39,149 
Debtors
17,542 
37,097 
Cash at bank and in hand
5,299 
2,801 
49,507 
79,047 
Creditors: amounts falling due within one year
(21,722)
(47,915)
Net current assets
27,785 
31,132 
Net assets
37,961 
45,138 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
37,951 
45,128 
Shareholders' funds
37,961 
45,138 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by
Carol Ratcliffe Director Company Registration No. 07462041
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WASP INDUSTRIAL SERVICES LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
WASP INDUSTRIAL SERVICES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07462041. The registered office is KINGSDOWN INDUSTRIAL ESTATE, KINGSDOWN ROAD, SWINDON, SN25 6PD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% RB
Motor vehicles
25% RB
Fixtures & fittings
25% RB
Computer equipment
25% RB
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Taxation
The Tax expense for the period comprises of current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted by the reporting date in the countries where the company operates and generates taxable income.
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WASP INDUSTRIAL SERVICES LIMITED Notes to the Accounts for the year ended 31 March 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
14,389 
1,800 
418 
13,315 
29,922 
At 31 March 2024
14,389 
1,800 
418 
13,315 
29,922 
Depreciation
At 1 April 2023
5,709 
224 
26 
9,957 
15,916 
Charge for the year
2,499 
395 
98 
838 
3,830 
At 31 March 2024
8,208 
619 
124 
10,795 
19,746 
Net book value
At 31 March 2024
6,181 
1,181 
294 
2,520 
10,176 
At 31 March 2023
8,680 
1,576 
392 
3,358 
14,006 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
17,542 
37,097 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
2,195 
3,182 
Trade creditors
6,627 
14,331 
Taxes and social security
2,496 
6,682 
Other creditors
2,569 
6,875 
Loans from directors
7,835 
16,845 
21,722 
47,915 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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