Silverfin false false 31/01/2024 01/02/2023 31/01/2024 E Wright 05/01/2021 07 October 2024 The principal activity of the Company during the financial period was that of professional sailing. 13114410 2024-01-31 13114410 bus:Director1 2024-01-31 13114410 2023-01-31 13114410 core:CurrentFinancialInstruments 2024-01-31 13114410 core:CurrentFinancialInstruments 2023-01-31 13114410 core:ShareCapital 2024-01-31 13114410 core:ShareCapital 2023-01-31 13114410 core:RetainedEarningsAccumulatedLosses 2024-01-31 13114410 core:RetainedEarningsAccumulatedLosses 2023-01-31 13114410 core:PlantMachinery 2023-01-31 13114410 core:Vehicles 2023-01-31 13114410 core:OfficeEquipment 2023-01-31 13114410 core:PlantMachinery 2024-01-31 13114410 core:Vehicles 2024-01-31 13114410 core:OfficeEquipment 2024-01-31 13114410 2023-02-01 2024-01-31 13114410 bus:FilletedAccounts 2023-02-01 2024-01-31 13114410 bus:SmallEntities 2023-02-01 2024-01-31 13114410 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13114410 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13114410 bus:Director1 2023-02-01 2024-01-31 13114410 core:PlantMachinery 2023-02-01 2024-01-31 13114410 core:Vehicles 2023-02-01 2024-01-31 13114410 core:OfficeEquipment 2023-02-01 2024-01-31 13114410 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Company No: 13114410 (England and Wales)

E WRIGHT LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

E WRIGHT LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

E WRIGHT LTD

BALANCE SHEET

As at 31 January 2024
E WRIGHT LTD

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 8,285 12,357
8,285 12,357
Current assets
Debtors 4 3,361 3,214
Cash at bank and in hand 508 6
3,869 3,220
Creditors: amounts falling due within one year 5 ( 20,021) ( 23,454)
Net current liabilities (16,152) (20,234)
Total assets less current liabilities (7,867) (7,877)
Net liabilities ( 7,867) ( 7,877)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 7,967 ) ( 7,977 )
Total shareholder's deficit ( 7,867) ( 7,877)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of E Wright Ltd (registered number: 13114410) were approved and authorised for issue by the Director on 07 October 2024. They were signed on its behalf by:

E Wright
Director
E WRIGHT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
E WRIGHT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
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

E Wright Ltd (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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer and the revenue from services is recognised as they are delivered.

Taxation

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

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 basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 February 2023 7,850 8,900 1,129 17,879
At 31 January 2024 7,850 8,900 1,129 17,879
Accumulated depreciation
At 01 February 2023 3,925 1,298 299 5,522
Charge for the financial year 1,963 1,901 208 4,072
At 31 January 2024 5,888 3,199 507 9,594
Net book value
At 31 January 2024 1,962 5,701 622 8,285
At 31 January 2023 3,925 7,602 830 12,357

4. Debtors

2024 2023
£ £
Trade debtors 0 3,214
Corporation tax 3,361 0
3,361 3,214

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 20,021 23,454