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REGISTERED NUMBER: 08953605 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

B & W PLASTERING & DRYLINING LIMITED

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B & W PLASTERING & DRYLINING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr P C Bayley
Mr L K Washbrook



REGISTERED OFFICE: 12 Swallowfield Rise
Torquay
TQ2 7SF



REGISTERED NUMBER: 08953605 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Barclays Bank Plc
40 Courtenay Street
Newton Abbot
Devon
TQ12 2EA

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,232 9,873

CURRENT ASSETS
Stocks 5 300 200
Debtors 6 10,376 29,597
Cash at bank 23,732 5,854
34,408 35,651
CREDITORS
Amounts falling due within one year 7 26,599 30,634
NET CURRENT ASSETS 7,809 5,017
TOTAL ASSETS LESS CURRENT LIABILITIES 16,041 14,890

CREDITORS
Amounts falling due after more than one
year

8

(8,333

)

(12,334

)

PROVISIONS FOR LIABILITIES (1,564 ) (1,876 )
NET ASSETS 6,144 680

CAPITAL AND RESERVES
Called up share capital 180 180
Retained earnings 5,964 500
SHAREHOLDERS' FUNDS 6,144 680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:




Mr P C Bayley - Director



Mr L K Washbrook - Director


B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

B & W Plastering & Drylining Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 8,000 41,474 49,474
Additions 877 - 877
At 31 March 2024 8,877 41,474 50,351
DEPRECIATION
At 1 April 2023 5,484 34,117 39,601
Charge for year 679 1,839 2,518
At 31 March 2024 6,163 35,956 42,119
NET BOOK VALUE
At 31 March 2024 2,714 5,518 8,232
At 31 March 2023 2,516 7,357 9,873

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 18,911
Transfer to ownership (18,911 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 15,657
Transfer to ownership (15,657 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 3,254

5. STOCKS
2024 2023
£    £   
Stocks 300 200

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,730 2,340
Other debtors - 12,000
Directors' current accounts 7,512 15,257
VAT 134 -
10,376 29,597

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,000 6,717
Hire purchase contracts - 548
Trade creditors 346 870
Tax 11,828 5,467
Social security and other taxes 6,800 12,734
VAT - 841
Other creditors 1,773 1,375
Directors' current accounts 37 -
Accrued expenses 1,815 2,082
26,599 30,634

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,333 -
Bank loans - 2-5 years - 12,334
8,333 12,334

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr L K Washbrook
Balance outstanding at start of year 3,944 6,561
Amounts advanced 29,400 16,800
Amounts repaid (33,382 ) (19,417 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (38 ) 3,944

B & W PLASTERING & DRYLINING LIMITED (REGISTERED NUMBER: 08953605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr P C Bayley
Balance outstanding at start of year 11,313 13,930
Amounts advanced 29,400 16,800
Amounts repaid (33,200 ) (19,417 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,513 11,313

Loans are unsecured, interest free and repayable on demand.

10. GOVERNMENT GUARANTEED LOAN

The bank loan of £12,332 (2023: £16,333) is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to April 2027.