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REGISTERED NUMBER: 11921575 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Wrightspace Ltd

Wrightspace Ltd (Registered number: 11921575)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wrightspace Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S J Wright
S Wright





REGISTERED OFFICE: Unit 2 Williams Brothers Industrial Park
Pingwood Lane
Kirkby
Liverpool
Merseyside
L33 4XZ





REGISTERED NUMBER: 11921575 (England and Wales)





ACCOUNTANTS: Harding & Humphries
5 Victoria Buildings
Victoria Road
Freshfield
Liverpool
Merseyside
L37 7DB

Wrightspace Ltd (Registered number: 11921575)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,838 18,011

CURRENT ASSETS
Stocks 5 306,598 200,573
Debtors 6 8,483 100,138
Cash at bank and in hand 30,047 54,993
345,128 355,704
CREDITORS
Amounts falling due within one year 7 292,946 312,364
NET CURRENT ASSETS 52,182 43,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,020

61,351

CREDITORS
Amounts falling due after more than one
year

8

31,808

37,330
NET ASSETS 35,212 24,021

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 35,211 24,020
SHAREHOLDERS' FUNDS 35,212 24,021

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

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

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 23 August 2024 and were signed on its behalf by:





S Wright - Director


Wrightspace Ltd (Registered number: 11921575)

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

1. STATUTORY INFORMATION

Wrightspace 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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 8 (2023 - 8 ) .

Wrightspace Ltd (Registered number: 11921575)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
Buildings machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 21,200 2,039 5,900 29,139
DEPRECIATION
At 1 April 2023 7,400 1,147 2,581 11,128
Charge for year 2,120 223 830 3,173
At 31 March 2024 9,520 1,370 3,411 14,301
NET BOOK VALUE
At 31 March 2024 11,680 669 2,489 14,838
At 31 March 2023 13,800 892 3,319 18,011

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 179,861 121,425
Work-in-progress 126,737 79,148
306,598 200,573

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,327 99,134
Other debtors 7,156 1,004
8,483 100,138

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,055 5,382
Trade creditors 123,179 60,971
Taxation and social security 143,010 186,626
Other creditors 20,702 59,385
292,946 312,364

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 31,808 37,330

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,295 14,396

Wrightspace Ltd (Registered number: 11921575)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1