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REGISTERED NUMBER: 06508404 (England and Wales)















WAYNE COWLING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WAYNE COWLING LTD (REGISTERED NUMBER: 06508404)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

WAYNE COWLING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr W C Cowling
Mrs K Cowling





REGISTERED OFFICE: Towerlands
Well End
Friday Bridge
Wisbech
Cambridgeshire
PE14 0HG





REGISTERED NUMBER: 06508404 (England and Wales)





ACCOUNTANTS: Candour Accounts Limited
Endeavour House
7 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

WAYNE COWLING LTD (REGISTERED NUMBER: 06508404)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 67,214 69,458
67,214 69,458

CURRENT ASSETS
Stocks 6,445 3,178
Debtors 6 3,733 25,555
Cash at bank and in hand 53,418 39,815
63,596 68,548
CREDITORS
Amounts falling due within one year 7 12,563 34,379
NET CURRENT ASSETS 51,033 34,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,247

103,627

PROVISIONS FOR LIABILITIES 615 591
NET ASSETS 117,632 103,036

CAPITAL AND RESERVES
Called up share capital 8 20 20
Retained earnings 117,612 103,016
SHAREHOLDERS' FUNDS 117,632 103,036

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

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

WAYNE COWLING LTD (REGISTERED NUMBER: 06508404)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 30 August 2024 and were signed on its behalf by:





Mr W C Cowling - Director


WAYNE COWLING LTD (REGISTERED NUMBER: 06508404)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Wayne Cowling Ltd 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks 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 statement of financial position date.


WAYNE COWLING LTD (REGISTERED NUMBER: 06508404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 18,000
AMORTISATION
At 1 April 2023
and 31 March 2024 18,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

WAYNE COWLING LTD (REGISTERED NUMBER: 06508404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 74,962 47,632 122,594
DEPRECIATION
At 1 April 2023 10,258 42,878 53,136
Charge for year 1,294 950 2,244
At 31 March 2024 11,552 43,828 55,380
NET BOOK VALUE
At 31 March 2024 63,410 3,804 67,214
At 31 March 2023 64,704 4,754 69,458

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 96 24,344
Other debtors 3,637 1,211
3,733 25,555

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,805 11,614
Tax 4,356 234
Social security and other taxes 120 432
VAT 1,365 3,890
Other creditors 1,517 7,162
Directors' current accounts - 9,647
Accrued expenses 1,400 1,400
12,563 34,379

WAYNE COWLING LTD (REGISTERED NUMBER: 06508404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20 Ordinary 1 20 20

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WAYNE COWLING LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wayne Cowling Ltd for the year ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wayne Cowling Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wayne Cowling Ltd and state those matters that we have agreed to state to the Board of Directors of Wayne Cowling Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wayne Cowling Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wayne Cowling Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wayne Cowling Ltd. You consider that Wayne Cowling Ltd 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 financial statements of Wayne Cowling Ltd. 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 financial statements.






Candour Accounts Limited
Endeavour House
7 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR


Date: .............................................