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REGISTERED NUMBER: 04442521 (England and Wales)


















W. H. WAY & SON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






W. H. WAY & SON LIMITED (REGISTERED NUMBER: 04442521)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


W. H. WAY & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: G M Way





SECRETARY: C Way





REGISTERED OFFICE: Fairways
10 Meadow Brook
Church Village
Pontypridd
Rhondda Cynon Taff
CF38 1DJ





REGISTERED NUMBER: 04442521 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

W. H. WAY & SON LIMITED (REGISTERED NUMBER: 04442521)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,786 3,535

CURRENT ASSETS
Stocks 14,000 10,500
Debtors 5 9,848 3,889
Cash at bank and in hand 143,385 130,055
167,233 144,444
CREDITORS
Amounts falling due within one year 6 (19,704 ) (27,758 )
NET CURRENT ASSETS 147,529 116,686
TOTAL ASSETS LESS CURRENT
LIABILITIES

150,315

120,221

PROVISIONS FOR LIABILITIES (628 ) (770 )
NET ASSETS 149,687 119,451

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 149,686 119,450
SHAREHOLDERS' FUNDS 149,687 119,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2025 and were signed by:





G M Way - Director


W. H. WAY & SON LIMITED (REGISTERED NUMBER: 04442521)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

W. H. Way & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There has been one departure from Financial Reporting Standard 102 1A, as can be seen in the stock accounting policy.

Turnover
Turnover represents net amounts invoiced during the year in respect of the dismantling of used commercial vehicles and the supply of parts, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are estimated by the director.

Financial instruments
Basic financial instruments are recognised at amortised cost.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the period and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

W. H. WAY & SON LIMITED (REGISTERED NUMBER: 04442521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 49,952 33,864 83,816
DEPRECIATION
At 1 May 2023 47,240 33,041 80,281
Charge for year 543 206 749
At 30 April 2024 47,783 33,247 81,030
NET BOOK VALUE
At 30 April 2024 2,169 617 2,786
At 30 April 2023 2,712 823 3,535

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,972 3,252
Prepayments and accrued income 876 637
9,848 3,889

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 279
Corporation tax 7,008 8,787
PAYE 309 151
VAT 1,590 1,048
Director's current account 9,297 9,297
Accruals and deferred income 1,500 8,196
19,704 27,758

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1