12 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 23,913 23,913 xbrli:pure xbrli:shares iso4217:GBP 05615813 2022-12-01 2023-11-30 05615813 2023-11-30 05615813 2022-11-30 05615813 2021-12-01 2022-11-30 05615813 2022-11-30 05615813 2021-11-30 05615813 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-01 2023-11-30 05615813 core:PlantMachinery 2022-12-01 2023-11-30 05615813 core:FurnitureFittings 2022-12-01 2023-11-30 05615813 core:MotorVehicles 2022-12-01 2023-11-30 05615813 bus:Director1 2022-12-01 2023-11-30 05615813 bus:Director4 2022-12-01 2023-11-30 05615813 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-30 05615813 core:PlantMachinery 2022-11-30 05615813 core:FurnitureFittings 2022-11-30 05615813 core:MotorVehicles 2022-11-30 05615813 core:PlantMachinery 2023-11-30 05615813 core:FurnitureFittings 2023-11-30 05615813 core:MotorVehicles 2023-11-30 05615813 core:WithinOneYear 2023-11-30 05615813 core:WithinOneYear 2022-11-30 05615813 core:ShareCapital 2023-11-30 05615813 core:ShareCapital 2022-11-30 05615813 core:RetainedEarningsAccumulatedLosses 2023-11-30 05615813 core:RetainedEarningsAccumulatedLosses 2022-11-30 05615813 core:PlantMachinery 2022-11-30 05615813 core:FurnitureFittings 2022-11-30 05615813 core:MotorVehicles 2022-11-30 05615813 bus:SmallEntities 2022-12-01 2023-11-30 05615813 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05615813 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 05615813 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05615813 bus:FullAccounts 2022-12-01 2023-11-30 05615813 core:OfficeEquipment 2022-11-30 05615813 core:OfficeEquipment 2022-12-01 2023-11-30 05615813 core:OfficeEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 05615813
Black Widow Exhausts Limited
Filleted Unaudited Financial Statements
30 November 2023
Black Widow Exhausts Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
127,590
174,148
Current assets
Stocks
1,735,178
1,941,605
Debtors
7
354,064
182,502
Cash at bank and in hand
1,311,183
1,025,989
------------
------------
3,400,425
3,150,096
Creditors: amounts falling due within one year
8
287,672
298,086
------------
------------
Net current assets
3,112,753
2,852,010
------------
------------
Total assets less current liabilities
3,240,343
3,026,158
Provisions
Taxation including deferred tax
30,385
31,555
------------
------------
Net assets
3,209,958
2,994,603
------------
------------
Black Widow Exhausts Limited
Statement of Financial Position (continued)
30 November 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
3,209,956
2,994,601
------------
------------
Shareholders funds
3,209,958
2,994,603
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 August 2024 , and are signed on behalf of the board by:
Mr L J Morrow
Ms J R Williams
Director
Director
Company registration number: 05615813
Black Widow Exhausts Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website development
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
Varying rates
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 12 ).
5. Intangible assets
Website development
£
Cost
At 1 December 2022 and 30 November 2023
23,913
--------
Amortisation
At 1 December 2022 and 30 November 2023
23,913
--------
Carrying amount
At 30 November 2023
--------
At 30 November 2022
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2022
105,527
53,759
146,574
47,055
352,915
Additions
1,516
2,013
3,529
---------
--------
---------
--------
---------
At 30 November 2023
105,527
55,275
146,574
49,068
356,444
---------
--------
---------
--------
---------
Depreciation
At 1 December 2022
55,991
42,748
48,201
31,827
178,767
Charge for the year
12,389
2,788
24,593
10,317
50,087
---------
--------
---------
--------
---------
At 30 November 2023
68,380
45,536
72,794
42,144
228,854
---------
--------
---------
--------
---------
Carrying amount
At 30 November 2023
37,147
9,739
73,780
6,924
127,590
---------
--------
---------
--------
---------
At 30 November 2022
49,536
11,011
98,373
15,228
174,148
---------
--------
---------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
19,752
22,814
Other debtors
334,312
159,688
---------
---------
354,064
182,502
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
21,073
15,910
Corporation tax
257,220
257,664
Social security and other taxes
14,328
Other creditors
9,379
10,184
---------
---------
287,672
298,086
---------
---------
9. Other financial commitments
Total financial commitments that are not included in the balance sheet amount to £26,475.