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REGISTERED NUMBER: NI635111 (Northern Ireland)















WASHINGBAY SHED & CLADDING LIMITED

Unaudited Financial Statements

for the Period 30 November 2022 to 30 November 2023






WASHINGBAY SHED & CLADDING LIMITED (REGISTERED NUMBER: NI635111)






Contents of the Financial Statements
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WASHINGBAY SHED & CLADDING LIMITED

Company Information
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023







DIRECTORS: B McCourt
O McCourt





REGISTERED OFFICE: 116 Derrylaughan Road
Coalisland
Co. Tyrone
BT71 4QS





REGISTERED NUMBER: NI635111 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

WASHINGBAY SHED & CLADDING LIMITED (REGISTERED NUMBER: NI635111)

Statement of Financial Position
30 NOVEMBER 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 - -
Property, plant and equipment 6 371,022 370,979
371,022 370,979

CURRENT ASSETS
Inventories 228,425 356,850
Receivables: amounts falling due within
one year

7

201,041

79,060
Cash at bank and in hand 872,176 864,712
1,301,642 1,300,622
PAYABLES
Amounts falling due within one year 8 (481,932 ) (565,054 )
NET CURRENT ASSETS 819,710 735,568
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,190,732

1,106,547

PAYABLES
Amounts falling due after more than
one year

9

(41,815

)

(107,777

)

GOVERNMENT GRANTS (4,004 ) (5,339 )
NET ASSETS 1,144,913 993,431

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 10 163,107 163,107
Retained earnings 981,804 830,322
1,144,913 993,431

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2023.

The members have not required the Company to obtain an audit of its financial statements for the period ended 30 November 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.

WASHINGBAY SHED & CLADDING LIMITED (REGISTERED NUMBER: NI635111)

Statement of Financial Position - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:




O McCourt - Director



B McCourt - Director


WASHINGBAY SHED & CLADDING LIMITED (REGISTERED NUMBER: NI635111)

Notes to the Financial Statements
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Washingbay Shed & Cladding Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Property,plant and equipment and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

WASHINGBAY SHED & CLADDING LIMITED (REGISTERED NUMBER: NI635111)

Notes to the Financial Statements - continued
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023

3. ACCOUNTING POLICIES - continued

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2022 - 17 ) .

5. INTANGIBLE FIXED ASSETS
Patents and
Goodwill licences Totals
£ £ £
COST
At 30 November 2022
and 30 November 2023 120,000 50,000 170,000
AMORTISATION
At 30 November 2022
and 30 November 2023 120,000 50,000 170,000
NET BOOK VALUE
At 30 November 2023 - - -
At 29 November 2022 - - -

6. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£ £ £ £
COST
At 30 November 2022 54,607 826,587 89,195 970,389
Additions 14,549 166,778 20,000 201,327
At 30 November 2023 69,156 993,365 109,195 1,171,716
DEPRECIATION
At 30 November 2022 - 550,720 48,690 599,410
Charge for period - 191,158 10,126 201,284
At 30 November 2023 - 741,878 58,816 800,694
NET BOOK VALUE
At 30 November 2023 69,156 251,487 50,379 371,022
At 29 November 2022 54,607 275,867 40,505 370,979

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade receivables 201,041 79,060

WASHINGBAY SHED & CLADDING LIMITED (REGISTERED NUMBER: NI635111)

Notes to the Financial Statements - continued
FOR THE PERIOD 30 NOVEMBER 2022 TO 30 NOVEMBER 2023

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,651 10,000
Hire purchase contracts 55,729 61,932
Trade payables 296,637 336,240
Taxation and social security 106,123 135,747
Other payables 12,792 21,135
481,932 565,054

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2023 2022
£ £
Bank loans 15,219 25,461
Hire purchase contracts 26,596 82,316
41,815 107,777

10. RESERVES
Revaluation
reserve
£
At 30 November 2022
and 30 November 2023 163,107