F.W.S. Supplies Ltd 03103171 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is renting and leasing of machinery and equipment Digita Accounts Production Advanced 6.30.9574.0 true true 03103171 2022-10-01 2023-09-30 03103171 2023-09-30 03103171 core:CurrentFinancialInstruments 2023-09-30 03103171 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 03103171 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 03103171 core:FurnitureFittingsToolsEquipment 2023-09-30 03103171 core:MotorVehicles 2023-09-30 03103171 core:OtherPropertyPlantEquipment 2023-09-30 03103171 bus:SmallEntities 2022-10-01 2023-09-30 03103171 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 03103171 bus:FilletedAccounts 2022-10-01 2023-09-30 03103171 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 03103171 bus:RegisteredOffice 2022-10-01 2023-09-30 03103171 bus:Director2 2022-10-01 2023-09-30 03103171 bus:Director3 2022-10-01 2023-09-30 03103171 bus:Director4 2022-10-01 2023-09-30 03103171 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03103171 core:FurnitureFittings 2022-10-01 2023-09-30 03103171 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 03103171 core:MotorVehicles 2022-10-01 2023-09-30 03103171 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 03103171 core:PlantMachinery 2022-10-01 2023-09-30 03103171 countries:EnglandWales 2022-10-01 2023-09-30 03103171 2022-09-30 03103171 core:FurnitureFittingsToolsEquipment 2022-09-30 03103171 core:MotorVehicles 2022-09-30 03103171 core:OtherPropertyPlantEquipment 2022-09-30 03103171 2021-10-01 2022-09-30 03103171 2022-09-30 03103171 core:CurrentFinancialInstruments 2022-09-30 03103171 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 03103171 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 03103171 core:FurnitureFittingsToolsEquipment 2022-09-30 03103171 core:MotorVehicles 2022-09-30 03103171 core:OtherPropertyPlantEquipment 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 03103171

F.W.S. Supplies Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

F.W.S. Supplies Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

F.W.S. Supplies Ltd

(Registration number: 03103171)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

72,176

64,734

Current assets

 

Stocks

5

16,500

18,000

Debtors

6

267,155

291,147

Cash at bank and in hand

 

69,954

73,700

 

353,609

382,847

Creditors: Amounts falling due within one year

7

(291,760)

(291,115)

Net current assets

 

61,849

91,732

Total assets less current liabilities

 

134,025

156,466

Creditors: Amounts falling due after more than one year

7

(17,696)

(31,356)

Provisions for liabilities

(8,112)

(1,839)

Net assets

 

108,217

123,271

Capital and reserves

 

Called up share capital

3

3

Retained earnings

108,214

123,268

Shareholders' funds

 

108,217

123,271

 

F.W.S. Supplies Ltd

(Registration number: 03103171)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 November 2024 and signed on its behalf by:
 

.........................................
Mr Nigel Holroyd
Director

.........................................
Mr Simon A Tabarn
Director

.........................................
Mr Brian Rigby
Director

 

F.W.S. Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Ringtail Place
Burscough Ind Est
Burscough
Lancs
L40 8LA

These financial statements were authorised for issue by the Board on 13 November 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

F.W.S. Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery

15% Reducing balance

Fixtures and fittings

15% Reducing balance

Motor vehicles

25% Reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

F.W.S. Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 9).

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2022

29,031

99,964

21,216

150,211

Additions

-

21,745

-

21,745

At 30 September 2023

29,031

121,709

21,216

171,956

Depreciation

At 1 October 2022

13,957

54,046

17,474

85,477

Charge for the year

2,263

11,479

561

14,303

At 30 September 2023

16,220

65,525

18,035

99,780

Carrying amount

At 30 September 2023

12,811

56,184

3,181

72,176

At 30 September 2022

15,074

45,918

3,742

64,734

 

F.W.S. Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

16,500

18,000

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

42,351

66,343

Amounts owed by related parties

224,804

224,804

   

267,155

291,147

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

13,840

15,802

Trade creditors

 

129,743

129,128

Taxation and social security

 

72,545

57,408

Accruals and deferred income

 

8,875

5,775

Other creditors

 

66,757

83,002

 

291,760

291,115

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

17,696

31,356