Registered number
04442569
Walshaw Motor Bodies Ltd
Filleted Accounts
31 March 2023
Walshaw Motor Bodies Ltd
Registered number: 04442569
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,538 3,195
Current assets
Stocks 74,679 42,773
Debtors 4 70,895 76,572
Cash at bank and in hand 342 1,001
145,916 120,346
Creditors: amounts falling due within one year 5 (133,096) (102,931)
Net current assets 12,820 17,415
Total assets less current liabilities 15,358 20,610
Creditors: amounts falling due after more than one year 6 (22,088) (28,334)
Net liabilities (6,730) (7,724)
Capital and reserves
Called up share capital 1 1
Profit and loss account (6,731) (7,725)
Shareholders' funds (6,730) (7,724)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Duxbury
Director
Approved by the board on 7 August 2024
Walshaw Motor Bodies Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 15% reducing balance
Plant and Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 3,773 15,520 11,800 31,093
At 31 March 2023 3,773 15,520 11,800 31,093
Depreciation
At 1 April 2022 2,353 14,970 10,575 27,898
Charge for the year 213 138 306 657
At 31 March 2023 2,566 15,108 10,881 28,555
Net book value
At 31 March 2023 1,207 412 919 2,538
At 31 March 2022 1,420 550 1,225 3,195
4 Debtors 2023 2022
£ £
Trade debtors 29,889 20,497
Other debtors 41,006 56,075
70,895 76,572
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 31,885 26,664
Trade creditors 23,535 11,155
Taxation and social security costs 43,591 63,000
Other creditors 34,085 2,112
133,096 102,931
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,088 28,334
7 Other information
Walshaw Motor Bodies Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Wlashaw Road
Bury
England
BL8 1PL
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