2023-02-012024-01-312024-01-31false04513361W. W. Builders 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W. W. Builders Limited

Registered Number
04513361
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

W. W. Builders Limited
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

A Williamson
S Williamson
B Williamson

Company Secretary

S Williamson

Registered Address

3 Saint Matthews Cottages
Westnewton
Wigton
CA7 3NS

Registered Number

04513361 (England and Wales)
W. W. Builders Limited
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3111,812124,712
Investments4900,000900,000
1,011,8121,024,712
Current assets
Stocks132,25094,000
Debtors31,65862,015
163,908156,015
Creditors amounts falling due within one year(546,553)(533,930)
Net current assets (liabilities)(382,645)(377,915)
Total assets less current liabilities629,167646,797
Creditors amounts falling due after one year(51,497)(71,050)
Provisions for liabilities(40,044)(37,338)
Net assets537,626538,409
Capital and reserves
Called up share capital1,0031,003
Revaluation reserve100,122108,132
Profit and loss account436,501429,274
Shareholders' funds537,626538,409
The financial statements were approved and authorised for issue by the Board of Directors on 23 October 2024, and are signed on its behalf by:
A Williamson
Director
Registered Company No. 04513361
W. W. Builders Limited
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Investment properties are shown at their deemed fair value, based on a valuation in 2019. The directors are of the opinion that the market value of the properties have not subsequently changed in a material regard. Since investment properties are shown at their fair value they are not subject to depreciation. If investment properties had not been revalued they would have been included at the following historical cost: £731,503 (2023: £731,503). Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings2
Plant and machinery15
Fixtures and fittings25
Vehicles25
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year710
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 23371,521
At 31 January 24371,521
Depreciation and impairment
At 01 February 23246,809
Charge for year12,900
At 31 January 24259,708
Net book value
At 31 January 24111,812
At 31 January 23124,712
4.Fixed asset investments

Total

£
Cost or valuation
At 01 February 23900,000
At 31 January 24900,000
Net book value
At 31 January 24900,000
At 31 January 23900,000
5.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts4,5007,500
6.Guarantees provided on behalf of directors
The company is engaged in a number of financial instruments over which security has been offered. The bank overdraft and loans are secured by a fixed and floating charge over the company's assets. The liability arising under the hire purchase agreements that the company has entered into are secured by the assets to which the agreements relate. The directors have given a personal guarantee in relation to the bank loan and overdraft.