3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06619262 2023-07-01 2024-06-30 06619262 2024-06-30 06619262 2023-06-30 06619262 2022-07-01 2023-06-30 06619262 2023-06-30 06619262 2022-06-30 06619262 core:PlantMachinery 2023-07-01 2024-06-30 06619262 core:MotorVehicles 2023-07-01 2024-06-30 06619262 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 06619262 bus:Director1 2023-07-01 2024-06-30 06619262 core:WithinOneYear 2024-06-30 06619262 core:WithinOneYear 2023-06-30 06619262 core:PlantMachinery 2023-06-30 06619262 core:MotorVehicles 2023-06-30 06619262 core:PlantMachinery 2024-06-30 06619262 core:MotorVehicles 2024-06-30 06619262 core:AfterOneYear 2024-06-30 06619262 core:AfterOneYear 2023-06-30 06619262 core:ShareCapital 2024-06-30 06619262 core:ShareCapital 2023-06-30 06619262 core:RetainedEarningsAccumulatedLosses 2024-06-30 06619262 core:RetainedEarningsAccumulatedLosses 2023-06-30 06619262 core:PlantMachinery 2023-06-30 06619262 core:MotorVehicles 2023-06-30 06619262 bus:SmallEntities 2023-07-01 2024-06-30 06619262 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06619262 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06619262 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06619262 bus:FullAccounts 2023-07-01 2024-06-30 06619262 bus:OrdinaryShareClass1 2024-06-30 06619262 bus:OrdinaryShareClass1 2023-06-30 06619262 core:ComputerEquipment 2023-07-01 2024-06-30 06619262 core:ComputerEquipment 2024-06-30 06619262 core:ComputerEquipment 2023-06-30 06619262 core:ConstructionInProgressAssetsUnderConstruction 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 06619262
Windows & Folding Doors (WFD) Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
Windows & Folding Doors (WFD) Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,360
1,816
Current assets
Stocks
77,719
82,198
Debtors
6
33,203
25,636
Cash at bank and in hand
2,250
---------
---------
113,172
107,834
Creditors: amounts falling due within one year
7
( 421,146)
( 377,802)
---------
---------
Net current liabilities
( 307,974)
( 269,968)
---------
---------
Total assets less current liabilities
( 306,614)
( 268,152)
Creditors: amounts falling due after more than one year
8
( 4,396)
( 8,000)
---------
---------
Net liabilities
( 311,010)
( 276,152)
---------
---------
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss account
( 312,010)
( 277,152)
---------
---------
Shareholders deficit
( 311,010)
( 276,152)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Windows & Folding Doors (WFD) Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 12 February 2025 , and are signed on behalf of the board by:
Mr Manuel F F Mendes
Director
Company registration number: 06619262
Windows & Folding Doors (WFD) Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 188B Brent Crescent, Ealing, London, NW10 7XR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods and is recognised in respect of all timing differences; although with certain exceptions. Timing differences are differences between taxable profit and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recoverable against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investment property (and other non-depreciable tangible fixed assets) is measured using the tax rates and allowances which will apply to the sale of the asset. Amounts of current and deferred tax are generally recognised in profit or loss, except when they relate to items which are recognised in in other comprehensive income or directly in equity and in such cases the amounts are also recognised in other comprehensive or equity as the case may be.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
9,780
10,590
4,391
24,761
-------
--------
-------
--------
Depreciation
At 1 July 2023
9,631
9,176
4,138
22,945
Charge for the year
38
354
64
456
-------
--------
-------
--------
At 30 June 2024
9,669
9,530
4,202
23,401
-------
--------
-------
--------
Carrying amount
At 30 June 2024
111
1,060
189
1,360
-------
--------
-------
--------
At 30 June 2023
149
1,414
253
1,816
-------
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
26,374
20,322
Prepayments and accrued income
4,494
4,494
VAT Refund
2,335
820
--------
--------
33,203
25,636
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan and overdraft
3,604
6,598
Trade creditors
32,381
23,906
Accruals
38,350
17,033
Social security and other taxes
21,304
8,142
Director loan accounts
54,715
50,316
Other creditors
270,792
271,807
---------
---------
421,146
377,802
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank (Bounce Back) loan
4,396
8,000
-------
-------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------