West Midlands Industrial Supplies Ltd |
Registered Number:07465639 |
For the year ended 30 November 2023
England and Wales
Unaudited Financial Statements
For the year ended 30 November 2023
West Midlands Industrial Supplies Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
West Midlands Industrial Supplies Ltd
Statement of Financial Position
2022
2023
Property, plant and equipment |
55,349
81,741
2
55,349
81,741
94,861
95,660
3
Trade and other receivables |
48,597
25,773
4
4,895
Cash and cash equivalents |
4,261
125,694
148,353
Trade and other payables: amounts falling due within one |
year |
(38,811)
(16,822)
5
109,542
108,872
Net current assets
Total assets less current liabilities |
164,221
191,283
Trade and other payables: amounts falling due after more |
than one year |
(80,893)
(56,240)
6
107,981
Net assets
110,390
1
1
107,980
110,389
107,981
110,390
Shareholders' funds
For the year ended 30 November 2023 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 of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Robert John Jones Director |
These financial statements were approved and authorised for issue by the Board on 02 July 2024 and were signed by: |
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For the year ended 30 November 2023
West Midlands Industrial Supplies Ltd
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 30 November 2023
West Midlands Industrial Supplies Ltd
Notes to the Financial Statements
Statutory Information
West Midlands Industrial Supplies Ltd is a private limited company, limited by shares, domiciled in England and |
Wales, registration number 07465639. |
Unit 2, St James Court
Bridgnorth Road
Wollaston
West Midlands
DY8 3QG
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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For the year ended 30 November 2023
West Midlands Industrial Supplies Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Motor vehicles
81,741
7,465
16,263
30,969
27,044
4,577
116
1,453
-
3,008
-
-
(30,969)
-
(30,969)
-
17,716
7,581
55,349
30,052
30,052
-
17,716
7,581
55,349
27,044
30,969
16,263
7,465
81,741
2022
2023
95,660
94,861
4. Trade and other receivables |
2022
2023
25,773
48,597
5. Trade and other payables: amounts falling due within one year |
2022
2023
266
-
4,158
24,648
Taxation and social security |
487
1,167
11,911
12,996
16,822
38,811
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For the year ended 30 November 2023
West Midlands Industrial Supplies Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
43,103
80,893
13,137
-
56,240
80,893
7. Average number of persons employed |
During the year the average number of employees was 3 (2022 : 3)
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