Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 05089129 Ms Suzanne McNeil Ms Suzanne McNeil iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05089129 2023-02-28 05089129 2024-02-29 05089129 2023-03-01 2024-02-29 05089129 frs-core:CurrentFinancialInstruments 2024-02-29 05089129 frs-core:Non-currentFinancialInstruments 2024-02-29 05089129 frs-core:NetGoodwill 2024-02-29 05089129 frs-core:NetGoodwill 2023-03-01 2024-02-29 05089129 frs-core:NetGoodwill 2023-02-28 05089129 frs-core:MotorVehicles 2024-02-29 05089129 frs-core:MotorVehicles 2023-03-01 2024-02-29 05089129 frs-core:MotorVehicles 2023-02-28 05089129 frs-core:PlantMachinery 2024-02-29 05089129 frs-core:PlantMachinery 2023-03-01 2024-02-29 05089129 frs-core:PlantMachinery 2023-02-28 05089129 frs-core:ShareCapital 2024-02-29 05089129 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05089129 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05089129 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 05089129 frs-bus:SmallEntities 2023-03-01 2024-02-29 05089129 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05089129 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05089129 frs-bus:Director1 2023-03-01 2024-02-29 05089129 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 05089129 frs-countries:EnglandWales 2023-03-01 2024-02-29 05089129 2022-02-28 05089129 2023-02-28 05089129 2022-03-01 2023-02-28 05089129 frs-core:CurrentFinancialInstruments 2023-02-28 05089129 frs-core:Non-currentFinancialInstruments 2023-02-28 05089129 frs-core:ShareCapital 2023-02-28 05089129 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 05089129
Wilmot Service Station Limited
Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05089129
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 12,683 8,133
12,683 8,133
CURRENT ASSETS
Stocks 6 45,013 45,524
Debtors 7 8,800 4,042
Cash at bank and in hand 56,575 95,649
110,388 145,215
Creditors: Amounts Falling Due Within One Year 8 (55,017 ) (60,353 )
NET CURRENT ASSETS (LIABILITIES) 55,371 84,862
TOTAL ASSETS LESS CURRENT LIABILITIES 68,054 92,995
Creditors: Amounts Falling Due After More Than One Year 9 (7,500 ) (19,500 )
NET ASSETS 60,554 73,495
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 60,552 73,493
SHAREHOLDERS' FUNDS 60,554 73,495
Page 1
Page 2
For the year ending 29 February 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 her 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
Ms Suzanne McNeil
Director
25 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wilmot Service Station Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05089129 . The registered office is 10 Morley Road, Chaddesden, Derby, DE21 4QU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
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Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 15,000
As at 29 February 2024 15,000
Amortisation
As at 1 March 2023 15,000
As at 29 February 2024 15,000
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 58,649 10,165 68,814
Additions 6,591 1,800 8,391
Disposals - (5,165 ) (5,165 )
As at 29 February 2024 65,240 6,800 72,040
Depreciation
As at 1 March 2023 53,479 7,202 60,681
Provided during the period 1,842 1,849 3,691
Disposals - (5,015 ) (5,015 )
As at 29 February 2024 55,321 4,036 59,357
Net Book Value
As at 29 February 2024 9,919 2,764 12,683
As at 1 March 2023 5,170 2,963 8,133
6. Stocks
2024 2023
£ £
Materials 37,611 38,122
Finished goods 7,402 7,402
45,013 45,524
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Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,010 -
Prepayments and accrued income 2,495 3,042
Other debtors 1,295 1,000
8,800 4,042
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,492 20,794
Bank loans and overdrafts 6,000 -
Corporation tax 1,899 13,335
Other taxes and social security 1,888 1,666
VAT 5,757 9,904
Other creditors - 9
Accruals and deferred income 23,981 14,645
55,017 60,353
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,500 19,500
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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