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Registered number: 10033525
Will Polley Trading Limited
Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Accountants' Report 1
Statement of Financial Position 2
Notes to the Financial Statements 3—4
Page 1
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of Will Polley Trading Limited for the year ended 29 February 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Will Polley Trading Limited which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Will Polley Trading Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Will Polley Trading Limited and state those matters that we have agreed to state to the director of Will Polley Trading Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Will Polley Trading Limited and its director as a body for our work or for this report.
It is your duty to ensure that Will Polley Trading Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Will Polley Trading Limited . You consider that Will Polley Trading Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Will Polley Trading Limited . 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 financial statements.
Signed
Cedar + Co
04/11/2024
Cedar & Co.
Chartered Certified Accountants
The Greenhouse
106-108 Ashbourne Road
Derby
DE22 3AG
Page 1
Page 2
Statement of Financial Position
Registered number: 10033525
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 8,911 9,450
Cash at bank and in hand 1 -
8,912 9,450
Creditors: Amounts Falling Due Within One Year 5 (8,684 ) (9,147 )
NET CURRENT ASSETS (LIABILITIES) 228 303
TOTAL ASSETS LESS CURRENT LIABILITIES 228 303
NET ASSETS 228 303
CAPITAL AND RESERVES
Called up share capital 6 1 1
Income Statement 227 302
SHAREHOLDERS' FUNDS 228 303
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
William Polley
Director
04/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Will Polley Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10033525 . The registered office is Cedar + Co The Greenhouse, 106 - 108 Ashbourne Road, Derby, DE22 3AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,281 4,553
Other debtors 3,630 4,897
8,911 9,450
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 1,195 1,194
Taxation and social security 7,489 7,953
8,684 9,147
Page 3
Page 4
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr William Polley (4,898 ) (118,168 ) 119,153 - (3,913 )
The above loan is interest free and repayable on demand.
Page 4