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REGISTRAR OF COMPANIES

Registration number: 00576529

W R D (Essex) Ltd

Unaudited Financial Statements

1 November 2022 to 30 October 2023

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W R D (Essex) Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
W R D (Essex) Ltd
for the Period Ended 30 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of W R D (Essex) Ltd for the period ended 30 October 2023 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of W R D (Essex) Ltd, as a body, in accordance with the terms of our engagement letter dated 25 August 2022. Our work has been undertaken solely to prepare for your approval the accounts of W R D (Essex) Ltd and state those matters that we have agreed to state to the Board of Directors of W R D (Essex) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W R D (Essex) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that W R D (Essex) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of W R D (Essex) Ltd. You consider that W R D (Essex) Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of W R D (Essex) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

22 October 2024

 

W R D (Essex) Ltd

(Registration number: 00576529)
Balance Sheet as at 30 October 2023

Note

30 October 2023
£

31 October 2022
£

Current assets

 

Debtors

4

372,000

855,037

Cash at bank and in hand

 

6,074

2,831

 

378,074

857,868

Creditors: Amounts falling due within one year

5

(536,166)

(897,612)

Net liabilities

 

(158,092)

(39,744)

Capital and reserves

 

Allotted, called up and fully paid share capital

16,800

16,800

Profit and loss account

(174,892)

(56,544)

Total equity

 

(158,092)

(39,744)

 

W R D (Essex) Ltd

(Registration number: 00576529)
Balance Sheet as at 30 October 2023 (continued)

For the financial period ending 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 October 2024
 

.........................................

L M Parkin

Director

 

W R D (Essex) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as W.R. Davies (Sharon Lee) Ltd.

The address of its registered office is:
Unit 13 Finch Drive
Springwood Industrial Estate
BRAINTREE
CM7 2SF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net liabilities at 30 October 2023 and meets its day to day working capital requirements through the support of its parent company, Sharon Lee Limited. On the basis of this support, the director considers it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its parent company, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

W R D (Essex) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 October 2023 (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 23 (2022 - 27).

 

W R D (Essex) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 October 2023 (continued)

4

Debtors

30 October 2023
£

31 October 2022
£

Trade debtors

354,957

761,845

Amounts owed by group undertakings and undertakings in which the company has a participating interest

-

48,800

Other debtors

17,043

44,392

372,000

855,037

5

Creditors

30 October 2023
£

31 October 2022
£

Due within one year

 

Trade creditors

 

44,256

10,863

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

336,331

834,816

Taxation and social security

 

64,442

35,397

Corporation tax liability

 

70,858

-

Other creditors

 

20,279

16,536

 

536,166

897,612

Included within Other creditors is £15,054 (2022 - £5,866) which is securred by company assets.

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £75,310 (2022 - £123,234). Financial commitments relate to total future commitments on the lease of property expiring in October 2024.