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Registered number: 9059127
Wakeling Engineering Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Abbotstones
Lemanis House
Stone Street
Lympne
Kent
CT21 4JN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 9059127
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,504 13,130
10,504 13,130
CURRENT ASSETS
Debtors 5 - 3,500
Cash at bank and in hand 60,231 40,818
60,231 44,318
Creditors: Amounts Falling Due Within One Year 6 (28,350 ) (21,444 )
NET CURRENT ASSETS (LIABILITIES) 31,881 22,874
TOTAL ASSETS LESS CURRENT LIABILITIES 42,385 36,004
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,996 ) (2,495 )
NET ASSETS 40,389 33,509
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 40,289 33,409
SHAREHOLDERS' FUNDS 40,389 33,509
Page 1
Page 2
For the year ending 31 May 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 Profit and Loss Account.
On behalf of the board
Mr Larry Wakeling
Director
06/11/2024
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
Wakeling Engineering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 9059127 . The registered office is 38 Langdon Road, Cheriton, Folkestone, Kent, CT19 4HX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance method
Fixtures & Fittings 20% reducing balance method
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 33,547
As at 31 May 2024 33,547
...CONTINUED
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Page 4
Depreciation
As at 1 June 2023 20,417
Provided during the period 2,626
As at 31 May 2024 23,043
Net Book Value
As at 31 May 2024 10,504
As at 1 June 2023 13,130
5. Debtors
2024 2023
£ £
Due within one year
Other loan - 3,500
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 22,459 13,649
VAT 4,766 6,471
Accruals (Current liabilities - creditors < 1 year) 850 850
Director's loan account 275 474
28,350 21,444
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 50,250 46,000
9. Ultimate Controlling Party
The company's ultimate controlling party is Larry Wakerling by virtue of his shareholding.
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