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Registered number: 09807640
WM Events Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Reynolds
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09807640
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 326,852 187,027
326,852 187,027
CURRENT ASSETS
Stocks 5 345,297 342,528
Debtors 6 317,391 588,346
Cash at bank and in hand 314,949 494,765
977,637 1,425,639
Creditors: Amounts Falling Due Within One Year 7 (300,946 ) (652,164 )
NET CURRENT ASSETS (LIABILITIES) 676,691 773,475
TOTAL ASSETS LESS CURRENT LIABILITIES 1,003,543 960,502
Creditors: Amounts Falling Due After More Than One Year 8 (222,006 ) (141,049 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (53,756 ) (46,756 )
NET ASSETS 727,781 772,697
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 727,779 772,695
SHAREHOLDERS' FUNDS 727,781 772,697
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Moynes
Director
24/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
WM Events Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09807640 . The registered office is Reynolds Ground Floor Windmill House, 127-128 Windmill Street, Gravesend, DA12 1BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance and 25% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% straight line
Computer Equipment 33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 9)
10 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 74,220 141,786 146,872 17,182 380,060
Additions 64,441 149,625 3,320 3,006 220,392
Disposals - - (6,348 ) (6,066 ) (12,414 )
As at 31 December 2023 138,661 291,411 143,844 14,122 588,038
Depreciation
As at 1 January 2023 54,626 72,789 52,500 13,118 193,033
Provided during the period 17,134 42,780 15,181 3,168 78,263
Disposals - - (4,279 ) (5,831 ) (10,110 )
As at 31 December 2023 71,760 115,569 63,402 10,455 261,186
Net Book Value
As at 31 December 2023 66,901 175,842 80,442 3,667 326,852
As at 1 January 2023 19,594 68,997 94,372 4,064 187,027
5. Stocks
2023 2022
£ £
Materials 345,297 342,528
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 255,476 506,061
Prepayments and accrued income 46,995 69,290
Other debtors 14,920 12,995
317,391 588,346
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 40,382 13,193
Trade creditors 58,504 100,581
Bank loans and overdrafts 50,000 50,000
Corporation tax 53,563 185,093
Other taxes and social security 14,174 27,538
VAT 79,402 263,062
Credit card 2,339 3,830
Pension control 1,259 -
Accruals and deferred income 999 999
Directors' loan accounts 324 7,868
300,946 652,164
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 146,953 16,049
Bank loans 75,053 125,000
222,006 141,049
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 40,382 13,193
Later than one year and not later than five years 146,953 16,049
187,335 29,242
187,335 29,242
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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