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REGISTERED NUMBER: 02865604 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Welslot Fencing Limited

Welslot Fencing Limited (Registered number: 02865604)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Welslot Fencing Limited (Registered number: 02865604)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 25,652 32,395

CURRENT ASSETS
Stocks 46,227 27,275
Debtors 5 58,837 75,173
Cash at bank and in hand 44,385 186,103
149,449 288,551
CREDITORS
Amounts falling due within one year 6 (90,312 ) (161,590 )
NET CURRENT ASSETS 59,137 126,961
TOTAL ASSETS LESS CURRENT LIABILITIES 84,789 159,356

CREDITORS
Amounts falling due after more than one
year

7

(19,920

)

(29,942

)

PROVISIONS FOR LIABILITIES (6,413 ) (6,155 )
NET ASSETS 58,456 123,259

CAPITAL AND RESERVES
Called up share capital 10 2
Retained earnings 58,446 123,257
SHAREHOLDERS' FUNDS 58,456 123,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Welslot Fencing Limited (Registered number: 02865604)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Mr E W Butcher - Director


Welslot Fencing Limited (Registered number: 02865604)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Welslot Fencing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02865604

Registered office: Westminster House
10 Westminster Road
Macclesfield
Cheshire
SK10 1BX

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, net of VAT and trade discounts

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% 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 Income Statement, 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.


Welslot Fencing Limited (Registered number: 02865604)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 86,826 2,428 32,722 15,324 137,300
DEPRECIATION
At 1 January 2023 64,044 2,282 27,425 11,154 104,905
Charge for year 4,556 29 1,324 834 6,743
At 31 December 2023 68,600 2,311 28,749 11,988 111,648
NET BOOK VALUE
At 31 December 2023 18,226 117 3,973 3,336 25,652
At 31 December 2022 22,782 146 5,297 4,170 32,395

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 28,847 39,672
Other debtors 29,990 35,501
58,837 75,173

Welslot Fencing Limited (Registered number: 02865604)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,021 9,766
Trade creditors 35,579 59,632
Taxation and social security 7,517 24,409
Other creditors 37,195 67,783
90,312 161,590

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 19,920 29,942