Registered number
14262203
Wissey Windings Ltd
Filleted Accounts
31 July 2024
Wissey Windings Ltd
Registered number: 14262203
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 23,477 49,434
Current assets
Debtors 4 128 158
Cash at bank and in hand 10,752 4,562
10,880 4,720
Creditors: amounts falling due within one year 5 (31,094) (107,040)
Net current liabilities (20,214) (102,320)
Total assets less current liabilities 3,263 (52,886)
Provisions for liabilities (624) -
Net assets/(liabilities) 2,639 (52,886)
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,637 (52,888)
Shareholders' funds 2,639 (52,886)
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.
F Richardson
Director
Approved by the board on 2 January 2025
Wissey Windings Ltd
Notes to the Accounts
for the year ended 31 July 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:
Plant and machinery over 3-10 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.
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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 45,268 5,555 50,823
Additions 7,159 210 7,369
Disposals (32,232) - (32,232)
At 31 July 2024 20,195 5,765 25,960
Depreciation
At 1 August 2023 - 1,389 1,389
Charge for the year - 1,094 1,094
At 31 July 2024 - 2,483 2,483
Net book value
At 31 July 2024 20,195 3,282 23,477
At 31 July 2023 45,268 4,166 49,434
4 Debtors 2024 2023
£ £
Other debtors 128 158
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,000 98,500
Taxation and social security costs 36 -
Other creditors 11,058 8,540
31,094 107,040
6 Related party transactions
The company rents an length of riverbank from the directors. Rent due in the year was £7,982.97.
7 Controlling party
The company is controlled by the directors D and F Richardson.
8 Other information
Wissey Windings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
First floor, 12 St John's Way,
St John's Business Estate
Downham Market
Norfolk
PE38 0QQ
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