1 01/02/2023 31/01/2024 2024-01-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-02-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06802641 2023-02-01 2024-01-31 06802641 2024-01-31 06802641 2023-01-31 06802641 2022-02-01 2023-01-31 06802641 2023-01-31 06802641 2022-01-31 06802641 core:PlantMachinery 2023-02-01 2024-01-31 06802641 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 06802641 core:MotorVehicles 2023-02-01 2024-01-31 06802641 bus:RegisteredOffice 2023-02-01 2024-01-31 06802641 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 06802641 bus:Director1 2023-02-01 2024-01-31 06802641 core:PlantMachinery 2023-01-31 06802641 core:FurnitureFittingsToolsEquipment 2023-01-31 06802641 core:MotorVehicles 2023-01-31 06802641 core:PlantMachinery 2024-01-31 06802641 core:FurnitureFittingsToolsEquipment 2024-01-31 06802641 core:MotorVehicles 2024-01-31 06802641 core:WithinOneYear 2024-01-31 06802641 core:WithinOneYear 2023-01-31 06802641 core:AfterOneYear 2023-01-31 06802641 core:ShareCapital 2024-01-31 06802641 core:ShareCapital 2023-01-31 06802641 core:RetainedEarningsAccumulatedLosses 2024-01-31 06802641 core:RetainedEarningsAccumulatedLosses 2023-01-31 06802641 core:MotorVehicles 2023-01-31 06802641 bus:SmallEntities 2023-02-01 2024-01-31 06802641 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06802641 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06802641 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06802641 bus:FullAccounts 2023-02-01 2024-01-31
Company registration number: 06802641
WM Sales Limited
Unaudited filleted financial statements
31 January 2024
WM Sales Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
WM Sales Limited
Directors and other information
Director W Meredith
Company number 06802641
Registered office 269 London Road
Wickford
SS12 0LG
Business address 269 London Road
Wickford
SS12 0LG
Accountants Hill Allen (Wickford) Ltd
Office1 Riverside Court
24 Lower Southend Road
Wickford
Essex
SS11 8AE
Bankers HSBC plc
109 High Street
Billericay
CM12 9AN
WM Sales Limited
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 86 114
_______ _______
86 114
Current assets
Stocks 13,810 1,000
Debtors 6 565 208
Cash at bank and in hand 2,687 1,967
_______ _______
17,062 3,175
Creditors: amounts falling due
within one year 7 ( 18,620) ( 7,588)
_______ _______
Net current liabilities ( 1,558) ( 4,413)
_______ _______
Total assets less current liabilities ( 1,472) ( 4,299)
Creditors: amounts falling due
after more than one year 8 - ( 1,975)
_______ _______
Net liabilities ( 1,472) ( 6,274)
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account ( 2,472) ( 7,274)
_______ _______
Shareholders deficit ( 1,472) ( 6,274)
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 November 2024 , and are signed on behalf of the board by:
W Meredith
Director
Company registration number: 06802641
WM Sales Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Armadale, 269 London Road, Wickford, SS12 0LG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.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.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 33 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 and 31 January 2024 7,853 7,885 7,250 22,988
_______ _______ _______ _______
Depreciation
At 1 February 2023 7,853 7,885 7,136 22,874
Charge for the year - - 28 28
_______ _______ _______ _______
At 31 January 2024 7,853 7,885 7,164 22,902
_______ _______ _______ _______
Carrying amount
At 31 January 2024 - - 86 86
_______ _______ _______ _______
At 31 January 2023 - - 114 114
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 357 -
Other debtors 208 208
_______ _______
565 208
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 3,871 2,449
Corporation tax 1,133 -
Social security and other taxes 1,434 151
Other creditors 12,182 4,988
_______ _______
18,620 7,588
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts - 1,975
_______ _______
9. Controlling party
The company is controlled by the director W Meredith by reason of their shareholding.