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Registered number: 08857438
Wye Bother Linen Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Riverglade Accountancy Ltd
74 Yr Aran
Dunvant
Swansea
SA2 7PX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08857438
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,213 21,245
16,213 21,245
CURRENT ASSETS
Debtors 5 77,112 54,307
Cash at bank and in hand 1,232 1,340
78,344 55,647
Creditors: Amounts Falling Due Within One Year 6 (60,517 ) (42,111 )
NET CURRENT ASSETS (LIABILITIES) 17,827 13,536
TOTAL ASSETS LESS CURRENT LIABILITIES 34,040 34,781
Creditors: Amounts Falling Due After More Than One Year 7 (11,268 ) (11,688 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,613 ) (3,613 )
NET ASSETS 19,159 19,480
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 19,157 19,478
SHAREHOLDERS' FUNDS 19,159 19,480
Page 1
Page 2
For the year ending 31 March 2024 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs R B Ford
Director
01/05/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wye Bother Linen Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08857438 . The registered office is 4 The Courtlands, Winforton, Hereford, HR3 6EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 2 2
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 635 30,014 4,837 35,486
Additions - - 354 354
As at 31 March 2024 635 30,014 5,191 35,840
Depreciation
As at 1 April 2023 579 10,786 2,876 14,241
Provided during the period 22 4,807 557 5,386
As at 31 March 2024 601 15,593 3,433 19,627
Net Book Value
As at 31 March 2024 34 14,421 1,758 16,213
As at 1 April 2023 56 19,228 1,961 21,245
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,000 6,000
Other debtors 71,112 48,307
77,112 54,307
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 420 420
Corporation tax 9,977 6,530
Other taxes and social security 168 444
Other creditors 49,952 34,717
60,517 42,111
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,268 11,688
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 420 420
Later than one year and not later than five years 11,268 11,688
11,688 12,108
11,688 12,108
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 30,000 15,000
Page 5