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Company Registration No. 02860876 (England and Wales)
West Wight Drilling & Piling Limited Unaudited accounts for the year ended 31 October 2024
West Wight Drilling & Piling Limited Unaudited accounts Contents
Page
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West Wight Drilling & Piling Limited Company Information for the year ended 31 October 2024
Director
George Michael Morris
Company Number
02860876 (England and Wales)
Registered Office
17 Edinburgh Road Freshwater Isle of Wight PO40 9DL UK
Accountants
Vision Accounting Fortis House Cothey Way Ryde Isle of Wight PO33 1QT
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West Wight Drilling & Piling Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,495 
11,066 
Current assets
Inventories
10,180 
3,590 
Debtors
27,944 
23,636 
38,124 
27,226 
Creditors: amounts falling due within one year
(40,715)
(21,553)
Net current (liabilities)/assets
(2,591)
5,673 
Total assets less current liabilities
8,904 
16,739 
Provisions for liabilities
Deferred tax
(2,184)
(2,100)
Net assets
6,720 
14,639 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
6,718 
14,637 
Shareholders' funds
6,720 
14,639 
For the year ending 31 October 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 February 2025 and were signed on its behalf by
George Michael Morris Director Company Registration No. 02860876
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West Wight Drilling & Piling Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
West Wight Drilling & Piling Limited is a private company, limited by shares, registered in England and Wales, registration number 02860876. The registered office is 17 Edinburgh Road, Freshwater, Isle of Wight, PO40 9DL, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
25% Straight Line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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West Wight Drilling & Piling Limited Notes to the Accounts for the year ended 31 October 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
25,000 
At 31 October 2024
25,000 
Amortisation
At 1 November 2023
25,000 
At 31 October 2024
25,000 
Net book value
At 31 October 2024
- 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2023
105,669 
Additions
12,000 
At 31 October 2024
117,669 
Depreciation
At 1 November 2023
94,603 
Charge for the year
11,571 
At 31 October 2024
106,174 
Net book value
At 31 October 2024
11,495 
At 31 October 2023
11,066 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
26,673 
22,662 
Accrued income and prepayments
1,271 
- 
Other debtors
- 
974 
27,944 
23,636 
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West Wight Drilling & Piling Limited Notes to the Accounts for the year ended 31 October 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,171 
5,494 
VAT
10,587 
4,007 
Trade creditors
12,877 
1,832 
Taxes and social security
8,522 
2,429 
Other creditors
- 
5,511 
Loans from directors
4 
41 
Accruals
2,554 
2,239 
40,715 
21,553 
8
Average number of employees
During the year the average number of employees was 4 (2023: 3).
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