Registered number
01570478
Weco (Holdings) Limited
Filleted Abridged Accounts
30 June 2024
Weco (Holdings) Limited
Registered number: 01570478
Abridged Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 475,406 539,573
Investments 4 5,100 5,100
480,506 544,673
Current assets
Debtors 343,933 382,528
Cash at bank and in hand 189,053 131,573
532,986 514,101
Creditors: amounts falling due within one year (82,587) (79,825)
Net current assets 450,399 434,276
Total assets less current liabilities 930,905 978,949
Provisions for liabilities (14,015) (24,649)
Net assets 916,890 954,300
Capital and reserves
Called up share capital 100 100
Share premium 4,999 4,999
Profit and loss account 911,791 949,201
Shareholders' funds 916,890 954,300
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 members have 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
J P McCarthy
Director
Approved by the board on 30 January 2025
Weco (Holdings) Limited
Notes to the Abridged Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The abridged 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.
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:
Freehold buildings 2% straight line
Plant and machinery 33% straight line
Motor vehicles 33% straight line
Fixtures & fittings 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Total
£
Cost
At 1 July 2023 1,048,777
Additions 7,802
Disposals (6,996)
At 30 June 2024 1,049,583
Depreciation
At 1 July 2023 509,204
Charge for the year 72,890
On disposals (7,917)
At 30 June 2024 574,177
Net book value
At 30 June 2024 475,406
At 30 June 2023 539,573
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 July 2023 5,100
At 30 June 2024 5,100
5 Other information
Weco (Holdings) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Griston Road
Watton
Thetford
Norfolk
IP25 6DL
Weco (Holdings) Limited 01570478 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 J P McCarthy No description of principal activity 01570478 2022-07-01 2023-06-30 01570478 core:WithinOneYear 2023-06-30 01570478 core:ShareCapital 2023-06-30 01570478 core:SharePremium 2023-06-30 01570478 core:RetainedEarningsAccumulatedLosses 2023-06-30 01570478 2023-07-01 2024-06-30 01570478 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01570478 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 01570478 bus:Director40 2023-07-01 2024-06-30 01570478 1 2023-07-01 2024-06-30 01570478 2 2023-07-01 2024-06-30 01570478 countries:England 2023-07-01 2024-06-30 01570478 bus:FRS102 2023-07-01 2024-06-30 01570478 bus:AbridgedAccounts 2023-07-01 2024-06-30 01570478 2024-06-30 01570478 core:WithinOneYear 2024-06-30 01570478 core:ShareCapital 2024-06-30 01570478 core:SharePremium 2024-06-30 01570478 core:RetainedEarningsAccumulatedLosses 2024-06-30 01570478 2023-06-30 iso4217:GBP xbrli:pure