2 01/08/2023 31/07/2024 2024-07-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-08-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10268039 2023-08-01 2024-07-31 10268039 2024-07-31 10268039 2023-07-31 10268039 2022-08-01 2023-07-31 10268039 2023-07-31 10268039 2022-07-31 10268039 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 10268039 bus:Director1 2023-08-01 2024-07-31 10268039 core:FurnitureFittingsToolsEquipment 2023-07-31 10268039 core:FurnitureFittingsToolsEquipment 2024-07-31 10268039 core:WithinOneYear 2024-07-31 10268039 core:WithinOneYear 2023-07-31 10268039 core:ShareCapital 2024-07-31 10268039 core:ShareCapital 2023-07-31 10268039 core:RetainedEarningsAccumulatedLosses 2024-07-31 10268039 core:RetainedEarningsAccumulatedLosses 2023-07-31 10268039 core:FurnitureFittingsToolsEquipment 2023-07-31 10268039 bus:Director1 2023-07-31 10268039 bus:Director1 2024-07-31 10268039 bus:Director1 2022-07-31 10268039 bus:Director1 2023-07-31 10268039 bus:SmallEntities 2023-08-01 2024-07-31 10268039 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10268039 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10268039 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10268039 bus:FullAccounts 2023-08-01 2024-07-31
Company registration number: 10268039
W A Ward Ltd
Unaudited filleted financial statements
31 July 2024
W A Ward Ltd
Contents
Statement of financial position
Notes to the financial statements
W A Ward Ltd
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 934 392
_______ _______
934 392
Current assets
Debtors 6 4,216 1,000
Cash at bank and in hand 62,194 61,193
_______ _______
66,410 62,193
Creditors: amounts falling due
within one year 7 ( 4,737) ( 3,750)
_______ _______
Net current assets 61,673 58,443
_______ _______
Total assets less current liabilities 62,607 58,835
Provisions for liabilities ( 177) ( 74)
_______ _______
Net assets 62,430 58,761
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 62,330 58,661
_______ _______
Shareholders funds 62,430 58,761
_______ _______
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 September 2024 , and are signed on behalf of the board by:
Mr A W Davis
Director
Company registration number: 10268039
W A Ward Ltd
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Oakford, Kingsteignton, Newton Abbot, Devon, TQ12 3EQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.Revenue from the sale of goods and the provision of services is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods or provision of the services), the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Computer equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Classification
The company holds the following financial instruments:
Short term trade and other debtors and creditors
Cash and bank balances
All financial instruments are classified as basic.
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2023 4,598 4,598
Additions 1,266 1,266
Disposals ( 104) ( 104)
_______ _______
At 31 July 2024 5,760 5,760
_______ _______
Depreciation
At 1 August 2023 4,206 4,206
Charge for the year 724 724
Disposals ( 104) ( 104)
_______ _______
At 31 July 2024 4,826 4,826
_______ _______
Carrying amount
At 31 July 2024 934 934
_______ _______
At 31 July 2023 392 392
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 4,000 1,000
Other debtors 216 -
_______ _______
4,216 1,000
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Social security and other taxes 992 119
Other creditors 3,745 3,631
_______ _______
4,737 3,750
_______ _______
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance o/standing (to)/from
£ £ £
Director 1 ( 11) ( 8) ( 19)
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance o/standing (to)/from
£ £ £
Director 1 ( 11) - ( 11)
_______ _______ _______