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REGISTERED NUMBER: 08211023 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Waveney Wholesale Ltd

Waveney Wholesale Ltd (Registered number: 08211023)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Waveney Wholesale Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P Bartlett
Mrs M Bryant





REGISTERED OFFICE: Southwold Road Industrial Park
Southwold Road
Holton
Halesworth
Suffolk
IP19 8PW





REGISTERED NUMBER: 08211023 (England and Wales)





ACCOUNTANTS: Mark Carter Accountancy Services Ltd
65 Kennedy Avenue
Halesworth
Suffolk
IP19 8EQ

Waveney Wholesale Ltd (Registered number: 08211023)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,712 3,304
2,712 3,304

CURRENT ASSETS
Stocks 269,065 219,730
Debtors 6 13,922 36,990
Cash at bank and in hand 40,042 65,651
323,029 322,371
CREDITORS
Amounts falling due within one year 7 37,477 38,445
NET CURRENT ASSETS 285,552 283,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

288,264

287,230

PROVISIONS FOR LIABILITIES 385 489
NET ASSETS 287,879 286,741

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 286,879 285,741
SHAREHOLDERS' FUNDS 287,879 286,741

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Waveney Wholesale Ltd (Registered number: 08211023)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:




P Bartlett - Director



Mrs M Bryant - Director


Waveney Wholesale Ltd (Registered number: 08211023)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Waveney Wholesale Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The principle accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on cost
Motor vehicles - 20% on cost

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.


Waveney Wholesale Ltd (Registered number: 08211023)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 30,368
AMORTISATION
At 1 February 2023
and 31 January 2024 30,368
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Waveney Wholesale Ltd (Registered number: 08211023)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 10,776 9,250 20,026
DEPRECIATION
At 1 February 2023 7,472 9,250 16,722
Charge for year 592 - 592
At 31 January 2024 8,064 9,250 17,314
NET BOOK VALUE
At 31 January 2024 2,712 - 2,712
At 31 January 2023 3,304 - 3,304

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 9,013 7,790
Other debtors 4,909 29,200
13,922 36,990

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 11,597 524
Taxation and social security 7,319 16,526
Other creditors 18,561 21,395
37,477 38,445