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Registration number: 04713407

Winterstoke Warehousing Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 March 2024

 

Winterstoke Warehousing Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Winterstoke Warehousing Limited

Company Information

Directors

Mrs L E Sweeting

Mr N J Sweeting

Company secretary

Mrs L E Sweeting

Registered office

24 Lombardy Close
Weston Super Mare
BS22 8LZ
 

Accountants

W J James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Winterstoke Warehousing Limited

(Registration number: 04713407)

Balance Sheet
as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

28,342

34,100

Current assets

 

Debtors

5

80,251

70,891

Cash at bank and in hand

 

19,559

22,834

 

99,810

93,725

Creditors: Amounts falling due within one year

6

(46,063)

(51,024)

Net current assets

 

53,747

42,701

Total assets less current liabilities

 

82,089

76,801

Creditors: Amounts falling due after more than one year

6

(20,050)

(29,050)

Net assets

 

62,039

47,751

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

62,037

47,749

Total equity

 

62,039

47,751

For the financial year ending 31 March 2024 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.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Winterstoke Warehousing Limited

(Registration number: 04713407)

Balance Sheet
as at 31 March 2024

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................

Mr N J Sweeting

Director

 

Winterstoke Warehousing Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024

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:
24 Lombardy Close
Weston Super Mare
BS22 8LZ

These financial statements were authorised for issue by the Board on 27 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.

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 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.

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.

 

Winterstoke Warehousing Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024

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

20% Reducing balance

Computer equipment

33% on cost

Motor Vehicles

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Winterstoke Warehousing Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 4 (2023 - 5).

 

Winterstoke Warehousing Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

-

-

61,860

61,860

Additions

196

1,345

-

1,541

At 31 March 2024

196

1,345

61,860

63,401

Depreciation

At 1 April 2023

-

-

27,760

27,760

Charge for the year

39

440

6,820

7,299

At 31 March 2024

39

440

34,580

35,059

Carrying amount

At 31 March 2024

157

905

27,280

28,342

At 31 March 2023

-

-

34,100

34,100

5

Debtors

2024
£

2023
£

Trade debtors

73,251

63,891

Other debtors

7,000

7,000

80,251

70,891

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

7

9,000

9,000

Trade creditors

 

4,509

4,599

Taxation and social security

 

11,711

11,237

Accruals and deferred income

 

2,365

1,200

Other creditors

 

18,478

24,988

 

46,063

51,024

 

Winterstoke Warehousing Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

20,050

29,050

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease liabilities

7,550

10,550

Other borrowings

12,500

18,500

20,050

29,050

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

3,000

3,000

Other borrowings

6,000

6,000

9,000

9,000