Company registration number 02435241 (England and Wales)
W.F WESTFLOR (U.K) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
W.F WESTFLOR (U.K) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
W.F WESTFLOR (U.K) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
737,964
607,355
Investments
5
51,062
51,062
789,026
658,417
Current assets
Stocks
391,295
318,795
Debtors
6
280,508
234,929
Cash at bank and in hand
3,946
1,740
675,749
555,464
Creditors: amounts falling due within one year
7
(867,534)
(800,743)
Net current liabilities
(191,785)
(245,279)
Total assets less current liabilities
597,241
413,138
Creditors: amounts falling due after more than one year
8
(32,182)
(33,415)
Net assets
565,059
379,723
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
565,057
379,721
Total equity
565,059
379,723

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

W.F WESTFLOR (U.K) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 September 2024 and are signed on its behalf by:
A Gray
Director
Company registration number 02435241 (England and Wales)
W.F WESTFLOR (U.K) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

W.F Westflor (U.K) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Cattlegate Road, Crewes Hill, Enfield, Middlesex, EN2 3GE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
7% Reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost comprises direct materials and, where applicable, direct labour costs.

 

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

W.F WESTFLOR (U.K) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

W.F WESTFLOR (U.K) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
22
20
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
984,436
Additions
173,124
At 31 December 2023
1,157,560
Depreciation and impairment
At 1 January 2023
377,081
Depreciation charged in the year
42,515
At 31 December 2023
419,596
Carrying amount
At 31 December 2023
737,964
At 31 December 2022
607,355
5
Fixed asset investments
2023
2022
£
£
Investments
51,062
51,062
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
117,727
115,300
Amounts owed by group undertakings
105,293
106,153
Other debtors
57,488
13,476
280,508
234,929
W.F WESTFLOR (U.K) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
12,577
12,577
Trade creditors
718,197
689,295
Taxation and social security
17,411
17,411
Other creditors
119,349
81,460
867,534
800,743
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
32,182
33,415
2023-12-312023-01-01false09 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityA GrayS GrayD Kinghamfalsefalse024352412023-01-012023-12-31024352412023-12-31024352412022-12-3102435241core:OtherPropertyPlantEquipment2023-12-3102435241core:OtherPropertyPlantEquipment2022-12-3102435241core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3102435241core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3102435241core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3102435241core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3102435241core:CurrentFinancialInstruments2023-12-3102435241core:CurrentFinancialInstruments2022-12-3102435241core:ShareCapital2023-12-3102435241core:ShareCapital2022-12-3102435241core:RetainedEarningsAccumulatedLosses2023-12-3102435241core:RetainedEarningsAccumulatedLosses2022-12-3102435241bus:Director12023-01-012023-12-3102435241core:PlantMachinery2023-01-012023-12-31024352412022-01-012022-12-3102435241core:OtherPropertyPlantEquipment2022-12-3102435241core:OtherPropertyPlantEquipment2023-01-012023-12-3102435241core:WithinOneYear2023-12-3102435241core:WithinOneYear2022-12-3102435241core:Non-currentFinancialInstruments2023-12-3102435241core:Non-currentFinancialInstruments2022-12-3102435241bus:PrivateLimitedCompanyLtd2023-01-012023-12-3102435241bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102435241bus:FRS1022023-01-012023-12-3102435241bus:AuditExemptWithAccountantsReport2023-01-012023-12-3102435241bus:Director22023-01-012023-12-3102435241bus:Director32023-01-012023-12-3102435241bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP