Wilson Freshways Limited NI614821 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Retail sale of fruit and vegetables Digita Accounts Production Advanced 6.30.9574.0 true true NI614821 2023-01-01 2023-12-31 NI614821 2023-12-31 NI614821 bus:OrdinaryShareClass1 2023-12-31 NI614821 core:CurrentFinancialInstruments 2023-12-31 NI614821 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI614821 core:Non-currentFinancialInstruments 2023-12-31 NI614821 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 NI614821 core:FurnitureFittingsToolsEquipment 2023-12-31 NI614821 core:MotorVehicles 2023-12-31 NI614821 core:OtherPropertyPlantEquipment 2023-12-31 NI614821 bus:SmallEntities 2023-01-01 2023-12-31 NI614821 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI614821 bus:FilletedAccounts 2023-01-01 2023-12-31 NI614821 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI614821 bus:RegisteredOffice 2023-01-01 2023-12-31 NI614821 bus:Director1 2023-01-01 2023-12-31 NI614821 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 NI614821 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI614821 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI614821 core:MotorVehicles 2023-01-01 2023-12-31 NI614821 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI614821 countries:NorthernIreland 2023-01-01 2023-12-31 NI614821 2022-12-31 NI614821 core:FurnitureFittingsToolsEquipment 2022-12-31 NI614821 core:MotorVehicles 2022-12-31 NI614821 core:OtherPropertyPlantEquipment 2022-12-31 NI614821 2022-01-01 2022-12-31 NI614821 2022-12-31 NI614821 bus:OrdinaryShareClass1 2022-12-31 NI614821 core:CurrentFinancialInstruments 2022-12-31 NI614821 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI614821 core:Non-currentFinancialInstruments 2022-12-31 NI614821 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 NI614821 core:FurnitureFittingsToolsEquipment 2022-12-31 NI614821 core:MotorVehicles 2022-12-31 NI614821 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI614821

Wilson Freshways Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Wilson Freshways Limited

(Registration number: NI614821)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

288,044

73,308

Current assets

 

Stocks

5

51,066

44,091

Debtors

6

126,437

285,190

Cash at bank and in hand

 

45,604

24,069

 

223,107

353,350

Creditors: due within one year

7

(299,904)

(312,360)

Net current (liabilities)/assets

 

(76,797)

40,990

Total assets less current liabilities

 

211,247

114,298

Creditors: due after more than one year

7

(143,894)

(93,981)

Provisions for liabilities

(22,518)

(13,581)

Net assets

 

44,835

6,736

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

44,833

6,734

Shareholders' funds

 

44,835

6,736

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Wilson Freshways Limited

(Registration number: NI614821)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 24 April 2024
 

.........................................
Mr Mervyn Wilson
Director

 

Wilson Freshways Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 46c Glenmcquill Road, Knockloughrin, Magherafelt, Co. Londonderry, BT45 8RA.

These financial statements were authorised for issue by the director on 24 April 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current 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.

 

Wilson Freshways Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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:

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

 

Wilson Freshways Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 7).

 

Wilson Freshways Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 January 2023

1,290

79,645

92,482

173,417

Additions

223,884

20,400

-

244,284

Disposals

-

(28,000)

-

(28,000)

At 31 December 2023

225,174

72,045

92,482

389,701

Depreciation

At 1 January 2023

915

40,614

58,580

100,109

Charge for the year

375

5,936

6,258

12,569

Eliminated on disposal

-

(11,021)

-

(11,021)

At 31 December 2023

1,290

35,529

64,838

101,657

Carrying amount

At 31 December 2023

223,884

36,516

27,644

288,044

At 31 December 2022

375

39,031

33,902

73,308

5

Stocks

2023
£

2022
£

Stocks

51,066

44,091

6

Debtors

2023
£

2022
£

Trade debtors

62,939

42,144

Prepayments

7,892

5,309

Other debtors

55,606

237,737

 

126,437

285,190

 

Wilson Freshways Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors: due within one year

2023
£

2022
£

Loans and borrowings

15,481

34,817

Trade creditors

255,437

167,215

Taxation and social security

5,355

69,498

Accruals and deferred income

23,288

29,278

Other creditors

343

11,552

299,904

312,360

8

Creditors: due after more than one year

2023
£

2022
£

Bank borrowings

73,793

87,801

HP and finance lease liabilities

-

6,180

Directors loan accounts

70,101

-

143,894

93,981

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2