W.C. CONTRACTORS LIMITED
Registered number: 05735271
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 126,615 97,212
Current assets
Debtors 4 142,939 189,085
Cash at bank and in hand 602,759 619,260
745,698 808,345
Creditors: amounts falling due within one year 5 13,212 24,363
Net current assets 758,910 832,708
Total assets less current liabilities 885,525 929,920
Creditors: amounts falling due after more than one year 6 10,751 26,962
Net assets 896,276 956,882
Capital and reserves
Called up share capital 200 200
Profit and loss account 896,076 956,682
Shareholder's funds 896,276 956,882
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 member has 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.
Robert Watt
Director
Approved by the board on 23 December 2024
W.C. CONTRACTORS 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Motor Vehicle 20% reducing balance
;. Plant and machinery 20% reducing balance
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.
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 4 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 13,689 189,371 203,060
Additions 994 60,064 61,058
At 31 March 2024 14,683 249,435 264,118
Depreciation
At 1 April 2023 12,050 93,798 105,848
Charge for the year 527 31,128 31,655
At 31 March 2024 12,577 124,926 137,503
Net book value
At 31 March 2024 2,106 124,509 126,615
At 31 March 2023 1,639 95,573 97,212
4 Debtors 2024 2023
£ £
Trade debtors 76,145 179,813
Other debtors 66,794 9,272
142,939 189,085
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 590 4,702
Taxation and social security costs (15,277) 67,182
Other creditors 1,475 (96,247)
(13,212) (24,363)
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors (10,751) (26,962)
8 Controlling party
During the year, the company was wholly under the control of the director.
9 Other information
W.C. CONTRACTORS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
2 Cecil Drive
Corby
Northamptonshire
NN18 8BA
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