Registered number
05851898
Wesson Fencing Limited
Report and Accounts
for the year ended 31 December 2024
Wesson Fencing Limited
Registered number: 05851898
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 49,232 34,412
Current assets
Stocks 23,150 28,177
Debtors 4 27,089 33,786
Cash at bank and in hand 63,004 50,277
113,243 112,240
Creditors: amounts falling due within one year 5 (78,893) (59,547)
Net current assets 34,350 52,693
Total assets less current liabilities 83,582 87,105
Creditors: amounts falling due after more than one year 6 (6,930) (19,103)
Net assets 76,652 68,002
Capital and reserves
Called up share capital 100 100
Profit and loss account 76,552 67,902
Shareholder's funds 76,652 68,002
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 member has 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 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.
Julian Best
Director
Approved by the board on 19 February 2025
Wesson Fencing Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The 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.
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:
Plant & machinery over 4 years
Leasehold land and buildings over the lease term
Motor vehicles over 4 years
Fixtures, fittings, and IT equipment over 4 years
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
F&F and IT equipment Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 49,784 39,157 11,850 100,791
Additions - - 33,850 33,850
At 31 December 2024 49,784 39,157 45,700 134,641
Depreciation
At 1 January 2024 35,084 31,295 - 66,379
Charge for the year 7,483 3,931 7,616 19,030
At 31 December 2024 42,567 35,226 7,616 85,409
Net book value
At 31 December 2024 7,217 3,931 38,084 49,232
At 31 December 2023 14,700 7,862 11,850 34,412
4 Debtors 2024 2023
£ £
Trade debtors 27,089 25,930
Other debtors - 7,856
27,089 33,786
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,000 5,000
Trade creditors 25,456 11,756
Corporation tax 8,281 -
Other taxes and social security costs 7,117 4,932
Other creditors 30,039 37,859
78,893 59,547
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,930 19,103
7 Other information
Wesson Fencing Limited is a private company limited by shares and incorporated in England. Its registered office is Langmans Lodge, Langmans Lane, St Johns, Woking, Surrey, GU21 7PY
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