Company Registration No. 06998679 (England and Wales)
Great Witley Shop Limited
Unaudited accounts
for the year ended 31 December 2023
Great Witley Shop Limited
Unaudited accounts
Contents
Great Witley Shop Limited
Company Information
for the year ended 31 December 2023
Company Number
06998679 (England and Wales)
Registered Office
The Retreat, 70 Structon's Heath
Great Witley
Worcestershire
WR6 6JA
Great Witley Shop Limited
Accountants' report
Accountants' report to the director of Great Witley Shop Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Great Witley Shop Limited for the year ended
31 December 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Great Witley Shop Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Great Witley Shop Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Great Witley Shop Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Great Witley Shop Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Great Witley Shop Limited. You consider that Great Witley Shop Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Great Witley Shop Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Great Witley Shop Limited
Statement of financial position
as at 31 December 2023
Tangible assets
1,826
2,437
Cash at bank and in hand
212,111
185,370
Creditors: amounts falling due within one year
(16,369)
(16,511)
Net current assets
215,833
188,682
Total assets less current liabilities
217,659
191,119
Provisions for liabilities
Net assets
217,311
190,655
Called up share capital
2
2
Profit and loss account
217,309
190,653
Shareholders' funds
217,311
190,655
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 September 2024 and were signed on its behalf by
Mrs S C Lickman
Director
Company Registration No. 06998679
Great Witley Shop Limited
Notes to the Accounts
for the year ended 31 December 2023
Great Witley Shop Limited is a private company, limited by shares, registered in England and Wales, registration number 06998679. The registered office is The Retreat, 70 Structon's Heath, Great Witley, Worcestershire, WR6 6JA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.
Intangible fixed assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery
10% on cost
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on cost
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Great Witley Shop Limited
Notes to the Accounts
for the year ended 31 December 2023
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 and that they 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.
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.
4
Intangible fixed assets
Total
At 31 December 2023
25,000
At 31 December 2023
25,000
5
Tangible fixed assets
Total
At 31 December 2023
37,989
At 31 December 2023
36,163
6
Average number of employees
During the year the average number of employees was 3 (2022: 3).