WS Belting Limited 04198726 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the supply and installation of conveyor belts. Digita Accounts Production Advanced 6.30.9574.0 true 04198726 2023-05-01 2024-04-30 04198726 2024-04-30 04198726 core:CapitalRedemptionReserve 2024-04-30 04198726 core:RetainedEarningsAccumulatedLosses 2024-04-30 04198726 core:ShareCapital 2024-04-30 04198726 core:CurrentFinancialInstruments 2024-04-30 04198726 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 04198726 core:Non-currentFinancialInstruments 2024-04-30 04198726 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 04198726 core:FurnitureFittingsToolsEquipment 2024-04-30 04198726 core:MotorVehicles 2024-04-30 04198726 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-04-30 04198726 bus:SmallEntities 2023-05-01 2024-04-30 04198726 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04198726 bus:FilletedAccounts 2023-05-01 2024-04-30 04198726 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04198726 bus:RegisteredOffice 2023-05-01 2024-04-30 04198726 bus:Director1 2023-05-01 2024-04-30 04198726 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04198726 core:FurnitureFittings 2023-05-01 2024-04-30 04198726 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 04198726 core:MotorVehicles 2023-05-01 2024-04-30 04198726 core:OfficeEquipment 2023-05-01 2024-04-30 04198726 core:PlantMachinery 2023-05-01 2024-04-30 04198726 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-01 2024-04-30 04198726 countries:EnglandWales 2023-05-01 2024-04-30 04198726 2023-04-30 04198726 core:FurnitureFittingsToolsEquipment 2023-04-30 04198726 core:MotorVehicles 2023-04-30 04198726 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 04198726 2022-05-01 2023-04-30 04198726 2023-04-30 04198726 core:CapitalRedemptionReserve 2023-04-30 04198726 core:RetainedEarningsAccumulatedLosses 2023-04-30 04198726 core:ShareCapital 2023-04-30 04198726 core:CurrentFinancialInstruments 2023-04-30 04198726 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 04198726 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-04-30 04198726 core:Non-currentFinancialInstruments 2023-04-30 04198726 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 04198726 core:FurnitureFittingsToolsEquipment 2023-04-30 04198726 core:MotorVehicles 2023-04-30 04198726 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 04198726 core:PreviouslyStatedAmount 2023-04-30 04198726 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 04198726

WS Belting Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

WS Belting Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

WS Belting Limited

(Registration number: 04198726)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

157,794

118,376

Current assets

 

Stocks

5

62,942

59,372

Debtors

6

195,831

221,231

Cash at bank and in hand

 

302,587

224,362

 

561,360

504,965

Creditors: Amounts falling due within one year

7

(144,468)

(128,370)

Net current assets

 

416,892

376,595

Total assets less current liabilities

 

574,686

494,971

Creditors: Amounts falling due after more than one year

7

-

(2,778)

Provisions for liabilities

(39,449)

(22,491)

Net assets

 

535,237

469,702

Capital and reserves

 

Called up share capital

5,000

5,000

Capital redemption reserve

2,500

2,500

Retained earnings

527,737

462,202

Shareholders' funds

 

535,237

469,702

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 September 2024 and signed on its behalf by:
 

 

WS Belting Limited

(Registration number: 04198726)
Balance Sheet as at 30 April 2024

.........................................
Mr W L Couch
Director

 

WS Belting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4B Green Tree Warehousing
Tudworth Road
Hatfield
Doncaster
South Yorkshire
DN7 6HD

These financial statements were authorised for issue by the Board on 2 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

WS Belting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10-33% reducing balance

Fixture and fittings

10% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

WS Belting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

WS Belting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

207,831

102,321

310,152

Additions

8,237

76,109

84,346

Disposals

(1,038)

(27,591)

(28,629)

At 30 April 2024

215,030

150,839

365,869

Depreciation

At 1 May 2023

136,958

54,818

191,776

Charge for the year

16,136

17,622

33,758

Eliminated on disposal

(1,022)

(16,437)

(17,459)

At 30 April 2024

152,072

56,003

208,075

Carrying amount

At 30 April 2024

62,958

94,836

157,794

At 30 April 2023

70,873

47,503

118,376

5

Stocks

2024
£

2023
£

Other inventories

62,942

59,372

6

Debtors

2024
£

2023
£

Trade debtors

150,499

154,796

Other debtors

27,500

50,000

Prepayments

17,832

16,435

195,831

221,231

 

WS Belting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

2,778

16,666

Trade creditors

 

82,184

60,595

Taxation and social security

 

16,967

24,904

Corporation tax

 

37,599

22,260

Other creditors

 

472

445

Accrued expenses

 

4,468

3,500

 

144,468

128,370

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

2,778

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

2,778

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,778

16,666

9

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

50,000

50,000

Advanced

27,500

27,500

Repaid

(50,000)

(50,000)

At end of period

27,500

27,500

 

WS Belting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

Key management
£

Total
£

Advanced

50,000

50,000

At end of period

50,000

50,000