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Registration number: 11173851

Wyre Forest Business Consultancy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Wyre Forest Business Consultancy Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Wyre Forest Business Consultancy Ltd

Company Information

Director

Mr R Holford

Registered office

11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Wyre Forest Business Consultancy Ltd

(Registration number: 11173851)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

295

208

Current assets

 

Debtors

5

412

6,476

Cash at bank and in hand

 

4

46

 

416

6,522

Creditors: Amounts falling due within one year

6

(5,013)

(5,543)

Net current (liabilities)/assets

 

(4,597)

979

Total assets less current liabilities

 

(4,302)

1,187

Creditors: Amounts falling due after more than one year

6

(5,272)

(8,250)

Net liabilities

 

(9,574)

(7,063)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(9,575)

(7,064)

Shareholders' deficit

 

(9,574)

(7,063)

For the financial year ending 31 January 2024 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 year 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 director on 28 October 2024
 

.........................................
Mr R Holford
Director

   
     
 

Wyre Forest Business Consultancy Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH
Great Britain

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Tax

The tax expense for the period comprises current 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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

50% straight line

 

Wyre Forest Business Consultancy Ltd

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

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 merchandise sold 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. Accounts payable 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Wyre Forest Business Consultancy Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

3,280

3,280

Additions

590

590

At 31 January 2024

3,870

3,870

Depreciation

At 1 February 2023

3,072

3,072

Charge for the year

503

503

At 31 January 2024

3,575

3,575

Carrying amount

At 31 January 2024

295

295

At 31 January 2023

208

208

 

Wyre Forest Business Consultancy Ltd

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

5

Debtors

Current

2024
£

2023
£

Other debtors

412

6,476

 

412

6,476

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

3,000

3,000

Trade creditors

 

1,263

1,568

Accruals and deferred income

 

750

975

 

5,013

5,543

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,272

8,250

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,000

3,000

8

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Repayments by director
£

At 31 January 2024
£

Mr R Holford

Director loan account

5,366

(5,311)

55

 

Wyre Forest Business Consultancy Ltd

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

2023

At 1 February 2022
£

Advances to director
£

At 31 January 2023
£

Mr R Holford

Director loan account

-

5,366

5,366