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REGISTERED NUMBER: 07081855 (England and Wales)







Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Wightman Stewart Waterjet Limited

Wightman Stewart Waterjet Limited (Registered number: 07081855)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wightman Stewart Waterjet Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: S Fitton





SECRETARY: PHA Secretarial Services Ltd





REGISTERED OFFICE: Corner House
28 Huddersfield Road
Newhey
Rochdale
Lancashire
OL16 3QF





REGISTERED NUMBER: 07081855 (England and Wales)





ACCOUNTANTS: Brian Gumbley Accountancy Services Ltd
Corner House
28 Huddersfield Road
Newhey
Rochdale
Lancashire
OL16 3QF

Wightman Stewart Waterjet Limited (Registered number: 07081855)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,047 9,314

CURRENT ASSETS
Stocks 5 10,115 9,570
Debtors 6 44,839 83,569
Cash in hand 79 64
55,033 93,203
CREDITORS
Amounts falling due within one year 7 251,923 264,623
NET CURRENT LIABILITIES (196,890 ) (171,420 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(189,843

)

(162,106

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (189,943 ) (162,206 )
SHAREHOLDERS' FUNDS (189,843 ) (162,106 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Wightman Stewart Waterjet Limited (Registered number: 07081855)

Balance Sheet - continued
29 February 2024


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 director and authorised for issue on 29 August 2024 and were signed by:





S Fitton - Director


Wightman Stewart Waterjet Limited (Registered number: 07081855)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Wightman Stewart Waterjet Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Wightman Stewart Waterjet Limited (Registered number: 07081855)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 12,000 11,094 14,869 563 38,526
DEPRECIATION
At 1 March 2023 4,688 9,421 14,869 234 29,212
Charge for year 1,828 251 - 188 2,267
At 29 February 2024 6,516 9,672 14,869 422 31,479
NET BOOK VALUE
At 29 February 2024 5,484 1,422 - 141 7,047
At 28 February 2023 7,312 1,673 - 329 9,314

Wightman Stewart Waterjet Limited (Registered number: 07081855)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. STOCKS
29.2.24 28.2.23
£    £   
Work-in-progress 10,115 9,570

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
29.2.24 28.2.23
£    £   
Trade debtors 30,137 50,004
Directors' current accounts 14,702 33,565
44,839 83,569

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 19,949 167
Trade creditors 7,585 67,108
Tax 6,641 10,908
Social security and other taxes 15,668 20,191
VAT 118,766 92,839
Other creditors 83,314 73,410
251,923 264,623

8. ULTIMATE CONTROLLING PARTY

The controlling party is S Fitton.