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Registered number: 06567644
Westbury Inks Limited
Financial Statements
For The Year Ended 30 April 2024
Oakensen (Bristol)
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06567644
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 144,398 148,624
144,398 148,624
CURRENT ASSETS
Stocks 4 - 23,646
Debtors 5 14,017 1,833
Cash at bank and in hand 5,875 12,070
19,892 37,549
Creditors: Amounts Falling Due Within One Year 6 (66,023 ) (89,755 )
NET CURRENT ASSETS (LIABILITIES) (46,131 ) (52,206 )
TOTAL ASSETS LESS CURRENT LIABILITIES 98,267 96,418
Creditors: Amounts Falling Due After More Than One Year 7 (69,259 ) (76,604 )
NET ASSETS 29,008 19,814
CAPITAL AND RESERVES
Called up share capital 8 100 90
Capital redemption reserve - 10
Profit and Loss Account 28,908 19,714
SHAREHOLDERS' FUNDS 29,008 19,814
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr S J Williams
Director
14 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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:
Leasehold Over the life of property
Motor Vehicles 25% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 25% straight line
1.4. 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.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
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2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2023: 6)
5 6
3. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 144,302 4,850 12,523 22,595 184,270
Disposals - - (12,523 ) (22,595 ) (35,118 )
As at 30 April 2024 144,302 4,850 - - 149,152
Depreciation
As at 1 May 2023 721 2,926 10,625 21,374 35,646
Provided during the period 144 963 - - 1,107
Disposals - - (10,625 ) (21,374 ) (31,999 )
As at 30 April 2024 865 3,889 - - 4,754
Net Book Value
As at 30 April 2024 143,437 961 - - 144,398
As at 1 May 2023 143,581 1,924 1,898 1,221 148,624
4. Stocks
2024 2023
£ £
Stock - 23,646
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 1,833
Other debtors 14,017 -
14,017 1,833
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,147
Bank loans and overdrafts 12,633 11,110
Other taxes and social security 2,417 9,462
VAT - 2,009
Other creditors 50,973 63,617
Accruals and deferred income - 2,410
66,023 89,755
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 69,259 76,604
69,259 76,604
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 90
9. Related Party Transactions
Trasnactions with Westbury Prints Ltd.
10. General Information
Westbury Inks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06567644 . The registered office is 14 Canford Lane, Westbury On Trym, Bristol, BS9 3DH.
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