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Company No: 06660925 (England and Wales)

WAXMANS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

WAXMANS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WAXMANS LIMITED

BALANCE SHEET

As at 31 December 2023
WAXMANS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,591 2,299
2,591 2,299
Current assets
Debtors 4 118,900 67,855
Cash at bank and in hand 932,514 951,904
1,051,414 1,019,759
Creditors: amounts falling due within one year 5 ( 114,761) ( 52,852)
Net current assets 936,653 966,907
Total assets less current liabilities 939,244 969,206
Provision for liabilities ( 648) ( 609)
Net assets 938,596 968,597
Capital and reserves
Called-up share capital 100 100
Profit and loss account 938,496 968,497
Total shareholders' funds 938,596 968,597

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.

Directors' responsibilities:

The financial statements of Waxmans Limited (registered number: 06660925) were approved and authorised for issue by the Board of Directors on 25 September 2024. They were signed on its behalf by:

Ian Waxman
Director
WAXMANS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WAXMANS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Waxmans Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is , Treviot House, 186-192 High Road, Ilford, Essex IG1 1LR.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance
Computer equipment 4 years straight line
Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 January 2023 11,810 5,087 16,897
Additions 0 1,863 1,863
Disposals 0 ( 462) ( 462)
At 31 December 2023 11,810 6,488 18,298
Accumulated depreciation
At 01 January 2023 11,073 3,525 14,598
Charge for the financial year 184 1,272 1,456
Disposals 0 ( 347) ( 347)
At 31 December 2023 11,257 4,450 15,707
Net book value
At 31 December 2023 553 2,038 2,591
At 31 December 2022 737 1,562 2,299

4. Debtors

2023 2022
£ £
Trade debtors 32,446 285
Other debtors 86,454 67,570
118,900 67,855

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 54,755 21,966
Corporation tax 17,844 15,870
Other taxation and social security 1,167 955
Other creditors 40,995 14,061
114,761 52,852

6. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amount Advanced 117,329 107,065
Amount repaid (73,240) (109,158)

The loan to the director is repayable on demand. Interest is charged on loans at the official rate set by HMRC.