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Registered Number: 10545594
England and Wales

 

 

 

WIDE BOYZ LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 3,423    2,747 
Tangible fixed assets 4 5,671    3,146 
9,094    5,893 
Current assets      
Stocks 5 22,705    47,566 
Debtors 6 9,585    8,500 
Cash at bank and in hand 62,741    (2,318)
95,031    53,748 
Creditors: amount falling due within one year 7 (44,015)   (14,538)
Net current assets 51,016    39,210 
 
Total assets less current liabilities 60,110    45,103 
Net assets 60,110    45,103 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 60,108    45,101 
Shareholders' funds 60,110    45,103 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 10 July 2024 and were signed on its behalf by:


-------------------------------
Mark Richardson
Director
1
General Information
Wide Boyz Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10545594, registration address 17 Water Lane, Ashwell, Oakham, Rutland, LE15 7LS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Trade Mark
Trade Mark is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Trade Mark of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Intangible fixed assets

Cost Trade Mark   Total
  £   £
At 01 February 2023  
Additions 3,423    3,423 
Disposals  
At 31 January 2024 3,423    3,423 
Amortisation
At 01 February 2023  
Charge for year  
On disposals  
At 31 January 2024  
Net book values
At 31 January 2024 3,423    3,423 
At 31 January 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 February 2023 10,198      10,198 
Additions 4,043    367    4,410 
Disposals    
At 31 January 2024 14,241    367    14,608 
Depreciation
At 01 February 2023 7,052      7,052 
Charge for year 1,812    73    1,885 
On disposals    
At 31 January 2024 8,864    73    8,937 
Net book values
Closing balance as at 31 January 2024 5,377    294    5,671 
Opening balance as at 01 February 2023 3,146      3,146 


5.

Stocks

2024
£
  2023
£
Stocks 22,705    47,566 
22,705    47,566 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   3,269 
Other Debtors 9,585    5,231 
9,585    8,500 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 24,252    6,566 
Bank Loans & Overdrafts 3,274    4,424 
Taxation and Social Security 12,064    2,211 
Other Creditors 4,425    1,337 
44,015    14,538 

2