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REGISTERED NUMBER: SC383865 (Scotland)















Financial Statements for the Year Ended 31st January 2024

for

Angelwax Limited

Angelwax Limited (Registered number: SC383865)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Angelwax Limited

Company Information
for the Year Ended 31st January 2024







DIRECTORS: J M Hogg
R W Yates
M J Yates
Mrs M Cowin





REGISTERED OFFICE: 1 Campbell Lane
Hamilton
ML3 6DB





REGISTERED NUMBER: SC383865 (Scotland)





ACCOUNTANTS: Smith Inglis & Tait
1 Campbell Lane
Hamilton
ML3 6DB

Angelwax Limited (Registered number: SC383865)

Balance Sheet
31st January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 77,500 -
Property, plant and equipment 5 82,286 98,545
159,786 98,545

CURRENT ASSETS
Inventories 202,322 109,072
Debtors 6 550,562 524,125
Cash at bank and in hand 373,480 496,196
1,126,364 1,129,393
CREDITORS
Amounts falling due within one year 7 211,428 124,852
NET CURRENT ASSETS 914,936 1,004,541
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,074,722

1,103,086

CREDITORS
Amounts falling due after more than one
year

8

48,594

55,795
NET ASSETS 1,026,128 1,047,291

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,026,028 1,047,191
SHAREHOLDERS' FUNDS 1,026,128 1,047,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

Angelwax Limited (Registered number: SC383865)

Balance Sheet - continued
31st January 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 Board of Directors and authorised for issue on 29th August 2024 and were signed on its behalf by:




R W Yates - Director J M Hogg - Director




M J Yates - Director


Angelwax Limited (Registered number: SC383865)

Notes to the Financial Statements
for the Year Ended 31st January 2024

1. STATUTORY INFORMATION

Angelwax Limited is a private company, limited by shares , registered in Scotland. 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 etc - 25% on cost

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

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.

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.

Angelwax Limited (Registered number: SC383865)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

2. ACCOUNTING POLICIES - continued

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 11 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 77,500
At 31st January 2024 77,500
NET BOOK VALUE
At 31st January 2024 77,500

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1st February 2023 273,996
Additions 39,127
At 31st January 2024 313,123
DEPRECIATION
At 1st February 2023 175,451
Charge for year 55,386
At 31st January 2024 230,837
NET BOOK VALUE
At 31st January 2024 82,286
At 31st January 2023 98,545

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 480,092 456,771
Other debtors 70,470 67,354
550,562 524,125

Angelwax Limited (Registered number: SC383865)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,200 7,200
Trade creditors 51,057 98,848
Taxation and social security 26,296 4,513
Other creditors 126,875 14,291
211,428 124,852

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 48,594 55,795

9. ULTIMATE CONTROLLING PARTY

The directors are considered to be the ultimate controlling party, by virtue of their ability to act in concert, in respect of the operational and financial policies of the company.