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REGISTERED NUMBER: 07887730 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

W140 SPARES LTD

W140 SPARES LTD (REGISTERED NUMBER: 07887730)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W140 SPARES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr C H Burgess
Mrs M F N Burgess
Mr J Burgess
Mr H Wolfman





REGISTERED OFFICE: 139-141 Watling Street
Gillingham
Kent
ME7 2YY





REGISTERED NUMBER: 07887730 (England and Wales)





ACCOUNTANTS: Stephen Hill Partnership Limited
139-141 Watling Street
Gillingham
Kent
ME7 2YY

W140 SPARES LTD (REGISTERED NUMBER: 07887730)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,432 23,522

CURRENT ASSETS
Stocks 28,000 20,000
Debtors 5 8,862 796
Cash at bank 87,990 17,962
124,852 38,758
CREDITORS
Amounts falling due within one year 6 155,353 32,800
NET CURRENT (LIABILITIES)/ASSETS (30,501 ) 5,958
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,069

)

29,480

CREDITORS
Amounts falling due after more than one
year

7

(3,081

)

(2,291

)

PROVISIONS FOR LIABILITIES (2,582 ) (3,691 )
NET (LIABILITIES)/ASSETS (18,732 ) 23,498

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (18,932 ) 23,298
SHAREHOLDERS' FUNDS (18,732 ) 23,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

W140 SPARES LTD (REGISTERED NUMBER: 07887730)

BALANCE SHEET - continued
31 DECEMBER 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 6 September 2024 and were signed on its behalf by:





Mr C H Burgess - Director


W140 SPARES LTD (REGISTERED NUMBER: 07887730)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

W140 Spares Ltd 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.

The accounts have been prepared on the basis of going concern. This basis may not be appropriate because the company had, at 31st December 2023, net liabilities of £18,732. The validity of the going concern basis is dependent upon the continued support of the company's directors and ordinary creditors.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

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.


W140 SPARES LTD (REGISTERED NUMBER: 07887730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 22,581 7,856 18,453 8,278 57,168
DEPRECIATION
At 1 January 2023 13,840 6,385 7,757 5,664 33,646
Charge for year 2,186 368 2,674 862 6,090
At 31 December 2023 16,026 6,753 10,431 6,526 39,736
NET BOOK VALUE
At 31 December 2023 6,555 1,103 8,022 1,752 17,432
At 31 December 2022 8,741 1,471 10,696 2,614 23,522

W140 SPARES LTD (REGISTERED NUMBER: 07887730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 693 188
Other debtors 8,169 608
8,862 796

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 2,628 5,709
Trade creditors 11,693 2,291
Taxation and social security 3,591 6,709
Other creditors 137,441 18,091
155,353 32,800

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 3,081 2,291