2023-06-012024-05-312024-05-31false05132240W.I.C (ASI CONTROL) 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W.I.C (ASI CONTROL) LIMITED

Registered Number
05132240
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

W.I.C (ASI CONTROL) LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

HOWARD, Ian
HOWARD, Wendy Catherine

Company Secretary

HOWARD, Ian

Registered Address

17 Weavers Road
Darley Dale
DE4 2FU

Registered Number

05132240 (England and Wales)
W.I.C (ASI CONTROL) LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,70712,846
4,70712,846
Current assets
Stocks443,93035,042
Debtors523,62277,665
Cash at bank and on hand102,780116,434
170,332229,141
Creditors amounts falling due within one year6(63,974)(80,178)
Net current assets (liabilities)106,358148,963
Total assets less current liabilities111,065161,809
Creditors amounts falling due after one year7-(3,180)
Net assets111,065158,629
Capital and reserves
Called up share capital44
Profit and loss account111,061158,625
Shareholders' funds111,065158,629
The financial statements were approved and authorised for issue by the Board of Directors on 18 September 2024, and are signed on its behalf by:
HOWARD, Ian
Director
Registered Company No. 05132240
W.I.C (ASI CONTROL) LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks 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.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 231,78028,4706,08136,331
Additions--940940
At 31 May 241,78028,4707,02137,271
Depreciation and impairment
At 01 June 2395719,5482,98023,485
Charge for year4367,1181,5259,079
At 31 May 241,39326,6664,50532,564
Net book value
At 31 May 243871,8042,5164,707
At 31 May 238238,9223,10112,846
4.Stocks

2024

2023

££
Other stocks43,93035,042
Total43,93035,042
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables22,49276,764
Prepayments and accrued income1,130901
Total23,62277,665
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,26525,790
Bank borrowings and overdrafts3,1805,451
Taxation and social security46,96745,014
Other creditors3121,695
Accrued liabilities and deferred income2,2502,228
Total63,97480,178
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-3,180
Total-3,180