Registered number
07139559
Go Wallpaper Ltd
Filleted Abridged Accounts
31 January 2024
Go Wallpaper Ltd
Registered number: 07139559
Abridged Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 407,460 745,931
Current assets
Stocks 69,878 80,275
Cash at bank and in hand 77,075 33,314
146,953 113,589
Creditors: amounts falling due within one year (285,684) (232,914)
Net current liabilities (138,731) (119,325)
Total assets less current liabilities 268,729 626,606
Creditors: amounts falling due after more than one year - (273,606)
Provisions for liabilities - (2,728)
Net assets 268,729 350,272
Capital and reserves
Called up share capital 150 150
Profit and loss account 268,579 350,122
Shareholders' funds 268,729 350,272
The directors are 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 directors acknowledge their 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mr Nigel Poole
Director
Approved by the board on 7 August 2024
Go Wallpaper Ltd
Notes to the Abridged Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The abridged 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, excluding discounts, rebates, value added tax and other sales taxes.
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:
Land and buildings 2.5% Straight line
Plant and machinery 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Total
£
Cost
At 1 February 2023 1,113,188
Additions 6,276
Disposals (391,585)
At 31 January 2024 727,879
Depreciation
At 1 February 2023 367,257
Charge for the year 15,540
On disposals (62,378)
At 31 January 2024 320,419
Net book value
At 31 January 2024 407,460
At 31 January 2023 745,931
4 Other information
Go Wallpaper Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Genesis House
Stopes Road
Little Lever
Bolton
BL3 1NP
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