Registered number
03971318
Wallace and Warren Ltd
Filleted Accounts
30 April 2024
Wallace and Warren Ltd
Registered number: 03971318
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 117 146
Current assets
Debtors 4 1,758 200
Cash at bank and in hand 28,541 27,093
30,299 27,293
Creditors: amounts falling due within one year 5 (2,138) (4,911)
Net current assets 28,161 22,382
Net assets 28,278 22,528
Capital and reserves
Called up share capital 2 2
Profit and loss account 28,276 22,526
Shareholder's funds 28,278 22,528
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Rust
Director
Approved by the board on 1 November 2024
Wallace and Warren Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 2,857
At 30 April 2024 2,857
Depreciation
At 1 May 2023 2,711
Charge for the year 29
At 30 April 2024 2,740
Net book value
At 30 April 2024 117
At 30 April 2023 146
4 Debtors 2024 2023
£ £
Other debtors 1,758 200
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 3,230
Other creditors 2,138 1,681
2,138 4,911
6 Other information
Wallace and Warren Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1109/35 c/o Folkestone Storage
104 Foord Road
Folkestone
Kent
CT19 5AB
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