7 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 10,000 10,000 xbrli:pure xbrli:shares iso4217:GBP 06410970 2022-12-01 2023-11-30 06410970 2023-11-30 06410970 2022-11-30 06410970 2021-12-01 2022-11-30 06410970 2022-11-30 06410970 2021-11-30 06410970 core:PlantMachinery 2022-12-01 2023-11-30 06410970 core:MotorVehicles 2022-12-01 2023-11-30 06410970 core:NetGoodwill 2022-12-01 2023-11-30 06410970 bus:Director1 2022-12-01 2023-11-30 06410970 core:WithinOneYear 2023-11-30 06410970 core:WithinOneYear 2022-11-30 06410970 core:NetGoodwill 2023-11-30 06410970 core:PlantMachinery 2022-11-30 06410970 core:MotorVehicles 2022-11-30 06410970 core:PlantMachinery 2023-11-30 06410970 core:MotorVehicles 2023-11-30 06410970 core:AfterOneYear 2023-11-30 06410970 core:AfterOneYear 2022-11-30 06410970 core:ShareCapital 2023-11-30 06410970 core:ShareCapital 2022-11-30 06410970 core:RetainedEarningsAccumulatedLosses 2023-11-30 06410970 core:RetainedEarningsAccumulatedLosses 2022-11-30 06410970 core:PlantMachinery 2022-11-30 06410970 core:MotorVehicles 2022-11-30 06410970 bus:Director1 2022-11-30 06410970 bus:Director1 2023-11-30 06410970 bus:Director1 2021-11-30 06410970 bus:Director1 2022-11-30 06410970 bus:Director1 2021-12-01 2022-11-30 06410970 bus:SmallEntities 2022-12-01 2023-11-30 06410970 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 06410970 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 06410970 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06410970 bus:FullAccounts 2022-12-01 2023-11-30 06410970 core:OfficeEquipment 2022-12-01 2023-11-30 06410970 core:OfficeEquipment 2022-11-30 06410970 core:OfficeEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 06410970
Wakefield Bathrooms Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Wakefield Bathrooms Limited
Balance Sheet
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
42,928
56,587
Current assets
Stocks
62,882
41,759
Debtors
7
65,571
54,132
Cash at bank and in hand
100,804
77,301
---------
---------
229,257
173,192
Creditors: amounts falling due within one year
8
198,188
136,906
---------
---------
Net current assets
31,069
36,286
--------
--------
Total assets less current liabilities
73,997
92,873
Creditors: amounts falling due after more than one year
9
62,034
79,578
Provisions
Taxation including deferred tax
11,143
12,450
--------
--------
Net assets
820
845
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
720
745
----
----
Shareholders funds
820
845
----
----
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 profit and loss account 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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Wakefield Bathrooms Limited
Balance Sheet (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 6 August 2024 , and are signed on behalf of the board by:
M Osborne
Director
Company registration number: 06410970
Wakefield Bathrooms 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 47 Wakefield Road, Ossett, West Yorkshire, WF5 9LB.
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 and in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements have been rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates .
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Income tax
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 .
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.
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:
Goodwill
-
straight line over 4 years
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
All fixed assets are initially recorded at cost.
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:
Pant and machinery
-
33% straight line
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 5 ).
5. Intangible assets
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
10,000
--------
Amortisation
At 1 December 2022 and 30 November 2023
10,000
--------
Carrying amount
At 30 November 2023
--------
At 30 November 2022
--------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 December 2022
10,000
89,004
8,294
107,298
Additions
499
499
--------
--------
-------
---------
At 30 November 2023
10,000
89,004
8,793
107,797
--------
--------
-------
---------
Depreciation
At 1 December 2022
9,999
33,046
7,666
50,711
Charge for the year
13,990
168
14,158
--------
--------
-------
---------
At 30 November 2023
9,999
47,036
7,834
64,869
--------
--------
-------
---------
Carrying amount
At 30 November 2023
1
41,968
959
42,928
--------
--------
-------
---------
At 30 November 2022
1
55,958
628
56,587
--------
--------
-------
---------
7. Debtors
2023
2022
£
£
Trade debtors
40,404
31,103
Other debtors
25,167
23,029
--------
--------
65,571
54,132
--------
--------
Included in "Other debtors" is a balance of £8,000 (2022: £14,152) due from the director. The balance is unsecured and repayable on demand. Interest is charged at 2.6% per annum on the outstanding balance.
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,957
5,957
Trade creditors
140,983
88,827
Accruals and deferred income
703
1,676
Corporation tax
18,850
6,828
Social security and other taxes
21,884
20,254
Obligations under finance leases and hire purchase contracts
9,811
13,364
---------
---------
198,188
136,906
---------
---------
The bank loan is unsecured.
The obligations under finance leases and hire purchase contracts are secured by charges over the relevant assets.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
32,763
38,720
Obligations under finance leases and hire purchase contracts
29,271
40,858
--------
--------
62,034
79,578
--------
--------
The obligations under finance leases and hire purchase contracts are secured by charges over the relevant assets.
The bank loan is unsecured, interest is charged at 2.5% and is repayable in instalments with the final instalment due May 2030.
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
M Osborne
14,152
( 6,152)
8,000
--------
-------
-------
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
M Osborne
20,027
( 5,875)
14,152
--------
-------
--------