Registered number
08920214
R Wiles Ltd
Filleted Accounts
31 March 2024
R Wiles Ltd
Registered number: 08920214
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 571 714
Current assets
Stocks 1 940 940
Debtors 4 580 1,855
Cash at bank and in hand 4,205 4,930
5,725 7,725
Creditors: amounts falling due within one year 5 (5,827) (4,116)
Net current (liabilities)/assets (102) 3,609
Total assets less current liabilities 469 4,323
Capital and reserves
Called up share capital 100 100
Profit and loss account 369 4,223
Shareholders' funds 469 4,323
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M J Wiles
Director
Approved by the board on 9 September 2024
R Wiles Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,140 7,601 8,741
At 31 March 2024 1,140 7,601 8,741
Depreciation
At 1 April 2023 928 7,099 8,027
Charge for the year 42 101 143
At 31 March 2024 970 7,200 8,170
Net book value
At 31 March 2024 170 401 571
At 31 March 2023 212 502 714
4 Debtors 2024 2023
£ £
Trade debtors 580 1,855
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,325 -
Directors current account 2,851 2,839
Taxation and social security costs (249) 377
Other creditors 900 900
5,827 4,116
6 Related party transactions
There were no related party transactions during the year.
7 Controlling party
The company is under the control of M J Wiles by virtue of his shareholding.
8 Other information
R Wiles Ltd is a private company limited by shares and incorporated in England. Its registered office is:
130 Manor Green Road
Epsom
KT19 8LN
R Wiles Ltd 08920214 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 M J Wiles No description of principal activity 08920214 2022-04-01 2023-03-31 08920214 core:WithinOneYear 2023-03-31 08920214 core:ShareCapital 2023-03-31 08920214 core:RetainedEarningsAccumulatedLosses 2023-03-31 08920214 2023-04-01 2024-03-31 08920214 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08920214 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08920214 bus:Director40 2023-04-01 2024-03-31 08920214 core:PlantMachinery 2023-04-01 2024-03-31 08920214 core:Vehicles 2023-04-01 2024-03-31 08920214 countries:England 2023-04-01 2024-03-31 08920214 bus:FRS102 2023-04-01 2024-03-31 08920214 bus:FilletedAccounts 2023-04-01 2024-03-31 08920214 2024-03-31 08920214 core:WithinOneYear 2024-03-31 08920214 core:ShareCapital 2024-03-31 08920214 core:RetainedEarningsAccumulatedLosses 2024-03-31 08920214 core:PlantMachinery 2024-03-31 08920214 core:Vehicles 2024-03-31 08920214 2023-03-31 08920214 core:PlantMachinery 2023-03-31 08920214 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure