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Registration number: 10112827

Wye Knot Stop Ltd

Unaudited Filleted Financial Statements

for the Period from 1 May 2023 to 31 October 2024

 

Wye Knot Stop Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Wye Knot Stop Ltd

Company Information

Director

Mr Jonathan Southgate

Registered office

Wye Knot Stop
Llyswen
Brecon
Powys
LD3 0UR

Accountants

King Morter Proud & Co Limited
Chartered Accountants
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

 

Wye Knot Stop Ltd

(Registration number: 10112827)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

81,630

1,250

Current assets

 

Stocks

5

-

250

Cash at bank and in hand

 

5,747

10,963

 

5,747

11,213

Creditors: Amounts falling due within one year

7

(87,939)

(9,716)

Net current (liabilities)/assets

 

(82,192)

1,497

Net (liabilities)/assets

 

(562)

2,747

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(564)

2,745

Shareholders' (deficit)/funds

 

(562)

2,747

For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 January 2025
 

.........................................
Mr Jonathan Southgate
Director

 

Wye Knot Stop Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Wye Knot Stop
Llyswen
Brecon
Powys
LD3 0UR

These financial statements were authorised for issue by the director on 27 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wye Knot Stop Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% per annum on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Wye Knot Stop Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 2).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

-

4,146

4,146

Additions

249,000

-

249,000

Disposals

(168,370)

-

(168,370)

At 31 October 2024

80,630

4,146

84,776

Depreciation

At 1 May 2023

-

2,896

2,896

Charge for the period

-

250

250

At 31 October 2024

-

3,146

3,146

Carrying amount

At 31 October 2024

80,630

1,000

81,630

At 30 April 2023

-

1,250

1,250

Included within the net book value of land and buildings above is £80,630 (2023 - £Nil) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

-

250

 

Wye Knot Stop Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

6

Debtors

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

840

792

Taxation and social security

-

1,282

Other creditors

87,099

7,642

87,939

9,716

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £4,000.00) per ordinary share

-

4,000

 

 

10

Related party transactions

 

Wye Knot Stop Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

2023
£

Remuneration

9,096

18,192