Company Registration No. 03540531 (England and Wales)
WEEZLE DIVING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024
30 April 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
WEEZLE DIVING SERVICES LIMITED
COMPANY INFORMATION
Directors
Mr P N Child
Mrs H J Child
Secretary
Mr P N Child
Company number
03540531
Registered office
Grey Scar Farm
1 Boston Hill
Oakworth
Keighley
West Yorkshire
BD22 0SA
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
WEEZLE DIVING SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WEEZLE DIVING SERVICES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,531
3,164
Current assets
Stocks
6,401
15,886
Debtors
5
24,658
18,155
Cash at bank and in hand
359
207
31,418
34,248
Creditors: amounts falling due within one year
6
(34,480)
(35,380)
Net current liabilities
(3,062)
(1,132)
Total assets less current liabilities
(531)
2,032
Provisions for liabilities
(481)
(546)
Net (liabilities)/assets
(1,012)
1,486
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(2,012)
486
Total equity
(1,012)
1,486

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

WEEZLE DIVING SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 October 2024 and are signed on its behalf by:
Mr P N Child
Director
Company registration number 03540531 (England and Wales)
WEEZLE DIVING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Weezle Diving Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Grey Scar Farm, 1 Boston Hill, Oakworth, Keighley, West Yorkshire, BD22 0SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

1.3
Intangible fixed assets other than goodwill

Intangible assets includes trademarks registered in 2013. These have been fully written off in previous years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on reducing balance
Fixtures and fittings
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

WEEZLE DIVING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Other
£
Cost
At 1 May 2023 and 30 April 2024
716
Amortisation and impairment
At 1 May 2023 and 30 April 2024
716
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
WEEZLE DIVING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 May 2023 and 30 April 2024
1,362
12,519
13,881
Depreciation and impairment
At 1 May 2023
1,350
9,367
10,717
Depreciation charged in the year
3
630
633
At 30 April 2024
1,353
9,997
11,350
Carrying amount
At 30 April 2024
9
2,522
2,531
At 30 April 2023
12
3,152
3,164
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,671
3,512
Other debtors
17,987
14,643
24,658
18,155
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
21,297
12,200
Trade creditors
9,579
18,364
Taxation and social security
603
2,043
Other creditors
3,001
2,773
34,480
35,380

The bank overdraft is secured over the assets of the company.

7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr and Mrs. Child
-
4,042
19,148
(9,594)
13,596
4,042
19,148
(9,594)
13,596
WEEZLE DIVING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
7
Directors' transactions
(Continued)
- 6 -
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