Registered number
12309736
Wayne Bullock Limited
Filleted Accounts
30 November 2024
Wayne Bullock Limited
Registered number: 12309736
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 400 713
Tangible assets 4 8,554 8,872
8,954 9,585
Current assets
Debtors 5 2,375 38,774
Cash at bank and in hand 141,847 73,754
144,222 112,528
Creditors: amounts falling due within one year 6 (73,904) (48,960)
Net current assets 70,318 63,568
Total assets less current liabilities 79,272 73,153
Creditors: amounts falling due after more than one year 7 (4,200) (13,839)
Net assets 75,072 59,314
Capital and reserves
Called up share capital 100 100
Profit and loss account 74,972 59,214
Shareholder's funds 75,072 59,314
The director is 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 director acknowledges his 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.
W Bullock
Director
Approved by the board on 31 December 2024
Wayne Bullock Limited
Notes to the Accounts
for the year ended 30 November 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:
Office equipment over 5 years
Leasehold improvements over 5 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 995
At 30 November 2024 995
Amortisation
At 1 December 2023 282
Provided during the year 313
At 30 November 2024 595
Net book value
At 30 November 2024 400
At 30 November 2023 713
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Office equipment Leasehold improvements Total
£ £ £
Cost
At 1 December 2023 3,060 7,414 10,474
Additions 2,918 - 2,918
At 30 November 2024 5,978 7,414 13,392
Depreciation
At 1 December 2023 689 913 1,602
Charge for the year 1,184 2,052 3,236
At 30 November 2024 1,873 2,965 4,838
Net book value
At 30 November 2024 4,105 4,449 8,554
At 30 November 2023 2,371 6,501 8,872
5 Debtors 2024 2023
£ £
Trade debtors - 30,539
Other debtors 2,375 8,235
2,375 38,774
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 19,840 718
Taxation and social security costs 41,664 46,466
Other creditors 12,400 1,776
73,904 48,960
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,200 7,000
Directors loan - 6,839
4,200 13,839
8 Controlling party
The compay is controlled by the director.
9 Other information
Wayne Bullock Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
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