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REGISTERED NUMBER: 02756201 (England and Wales)











Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Wagstaffs Limited

Wagstaffs Limited (Registered number: 02756201)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Report of the Director 2

Income Statement 3

Statement of Financial Position 4

Notes to the Financial Statements 5


Wagstaffs Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: P F Wagstaff





SECRETARY: Mrs S B Wagstaff





REGISTERED OFFICE: 4 Enterprise Court
Downmill Road
Bracknell
RG12 1QS





REGISTERED NUMBER: 02756201 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Wagstaffs Limited (Registered number: 02756201)

Report of the Director
for the Year Ended 31 December 2023


The director presents his report with the financial statements of the company for the year ended 31 December 2023.

DIRECTOR
P F Wagstaff held office during the whole of the period from 1 January 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P F Wagstaff - Director


9 September 2024

Wagstaffs Limited (Registered number: 02756201)

Income Statement
for the Year Ended 31 December 2023

2023 2022
£    £   

TURNOVER 72,155 66,629

Cost of sales (27,251 ) (1,880 )
GROSS PROFIT 44,904 64,749

Administrative expenses (30,551 ) (43,750 )
OPERATING PROFIT 14,353 20,999


Interest payable and similar expenses (229 ) (301 )
PROFIT BEFORE TAXATION 14,124 20,698

Tax on profit (2,861 ) (4,033 )
PROFIT FOR THE FINANCIAL YEAR 11,263 16,665

Wagstaffs Limited (Registered number: 02756201)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 188 376

CURRENT ASSETS
Debtors 5 97,078 111,728
Cash at bank 9,956 4,746
107,034 116,474
CREDITORS
Amounts falling due within one year 6 (79,070 ) (84,856 )
NET CURRENT ASSETS 27,964 31,618
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,152

31,994

CREDITORS
Amounts falling due after more than one
year

7

(4,280

)

(7,385

)
NET ASSETS 23,872 24,609

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 23,372 24,109
23,872 24,609

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 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 9 September 2024 and were signed by:





P F Wagstaff - Director


Wagstaffs Limited (Registered number: 02756201)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Wagstaffs 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Office equipment - 33.3% on cost
Fixtures and fittings - 20% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

Wagstaffs Limited (Registered number: 02756201)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Office and
equipment fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 400 276 676
DEPRECIATION
At 1 January 2023 134 166 300
Charge for year 133 55 188
At 31 December 2023 267 221 488
NET BOOK VALUE
At 31 December 2023 133 55 188
At 31 December 2022 266 110 376

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,881 6,592
Other debtors 85,197 105,136
97,078 111,728

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,195 3,056
Trade creditors 1,682 3,506
Taxation and social security 2,861 4,033
Other creditors 71,332 74,261
79,070 84,856

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 4,280 7,385

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other creditors amounts falling due within one year is a loan of £68,168 (2022 - £73,506) from the director and £200 (2022 - £200) from the director's wife. These loans are unsecured, interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £80,000 (2022 - £80,000) owed by Vick Marine Limited.

This amount arose in respect of funding assistance. The two companies are related by virtue of similar control.