Registered number
00755659
Waycott Bros. Limited
Accounts
For the Year Ended
31 December 2023
Oakensen
Chartered Accountants
Unit 2 Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Waycott Bros. Limited
Registered number: 00755659
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 177 351
Current assets
Cash at bank and in hand 44,698 44,306
Creditors: amounts falling due within one year 4 (72,424) (63,079)
Net current liabilities (27,726) (18,773)
Total assets less current liabilities (27,549) (18,422)
Creditors: amounts falling due after more than one year 5 (2,607) (14,510)
Net liabilities (30,156) (32,932)
Capital and reserves
Called up share capital 4,100 4,100
Share premium 4,137 4,137
Profit and loss account (38,393) (41,169)
Shareholder's funds (30,156) (32,932)
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 member has 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.
P L Waycott
Director
Approved by the board on 23 August 2024
Waycott Bros. Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from 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.
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:
Motor vehicles 5 years straight line
Plant and machinery 7 years straight line
Fixtures, fittings, tools and equipment 7 years straight line
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.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures and fittings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 5,760 7,718 8,513 21,991
At 31 December 2023 5,760 7,718 8,513 21,991
Depreciation
At 1 January 2023 5,760 7,370 8,510 21,640
Charge for the year - 174 - 174
At 31 December 2023 5,760 7,544 8,510 21,814
Net book value
At 31 December 2023 - 174 3 177
At 31 December 2022 - 348 3 351
4 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to holding company 70,624 61,519
Other creditors 1,800 1,560
72,424 63,079
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 2,607 14,510
6 Related party transactions
Included in creditors due after one year is an amount of £2,607 (2022: £14,510) which is due to the director, E Waycott.
7 Other information
Waycott Bros. Limited is a private company limited by shares and incorporated in England. Its registered office is:
Westbury Court
Church Road
Westbury-On-Trym
Bristol
BS9 3EF
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