Registered number
05405107
Wessex Timber Windows Limited
Filleted Accounts
31 March 2024
Wessex Timber Windows Limited
Registered number: 05405107
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 31,454 31,877
Current assets
Stocks 11,911 4,264
Debtors 4 95,712 93,342
Cash at bank and in hand 64,622 74,724
172,245 172,330
Creditors: amounts falling due within one year 5 (140,373) (102,810)
Net current assets 31,872 69,520
Total assets less current liabilities 63,326 101,397
Provisions for liabilities (6,137) (6,057)
Net assets 57,189 95,340
Capital and reserves
Called up share capital 1,400 1,400
Profit and loss account 55,789 93,940
Shareholders' funds 57,189 95,340
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mrs A M Kinsey
Director
Approved by the board on 19 November 2024
Wessex Timber Windows Limited
Notes to the Accounts
for the year ended 31 March 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:
Leasehold land and buildings 10% straight line
Plant and machinery 10% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 16 16
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 2,786 101,358 12,950 117,094
Additions - 700 11,490 12,190
Disposals - - (8,950) (8,950)
At 31 March 2024 2,786 102,058 15,490 120,334
Depreciation
At 1 April 2023 1,891 77,490 5,836 85,217
Charge for the year 89 2,838 2,973 5,900
On disposals - - (2,237) (2,237)
At 31 March 2024 1,980 80,328 6,572 88,880
Net book value
At 31 March 2024 806 21,730 8,918 31,454
At 31 March 2023 895 23,868 7,114 31,877
4 Debtors 2024 2023
£ £
Trade debtors 30,442 13,557
Prepayments 3,823 5,641
Sundry debtors 61,447 74,144
95,712 93,342
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 36,325 25,236
Taxation and social security costs 28,391 45,208
Accruals 1,610 1,593
Other creditors 74,047 30,773
140,373 102,810
6 Controlling party
The company is controlled by the directors who own 100% of the share capital
7 Other information
Wessex Timber Windows Limited is a private company limited by shares and incorporated in England. Its registered office is:
43 Fisherton Street
Salisbury
Wiltshire
SP2 7SU
Wessex Timber Windows Limited 05405107 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mrs A M Kinsey No description of principal activity 05405107 2022-04-01 2023-03-31 05405107 core:WithinOneYear 2023-03-31 05405107 core:ShareCapital 2023-03-31 05405107 core:RetainedEarningsAccumulatedLosses 2023-03-31 05405107 2023-04-01 2024-03-31 05405107 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05405107 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05405107 bus:Director40 2023-04-01 2024-03-31 05405107 1 2023-04-01 2024-03-31 05405107 2 2023-04-01 2024-03-31 05405107 core:LandBuildings 2023-04-01 2024-03-31 05405107 core:PlantMachinery 2023-04-01 2024-03-31 05405107 core:Vehicles 2023-04-01 2024-03-31 05405107 countries:England 2023-04-01 2024-03-31 05405107 bus:FRS102 2023-04-01 2024-03-31 05405107 bus:FilletedAccounts 2023-04-01 2024-03-31 05405107 2024-03-31 05405107 core:WithinOneYear 2024-03-31 05405107 core:ShareCapital 2024-03-31 05405107 core:RetainedEarningsAccumulatedLosses 2024-03-31 05405107 core:LandBuildings 2024-03-31 05405107 core:PlantMachinery 2024-03-31 05405107 core:Vehicles 2024-03-31 05405107 2023-03-31 05405107 core:LandBuildings 2023-03-31 05405107 core:PlantMachinery 2023-03-31 05405107 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure