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Registration number: 09544046

WJD Repairs Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

WJD Repairs Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

WJD Repairs Limited

(Registration number: 09544046)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

469,781

472,727

Investments

6

85

85

 

469,866

472,812

Current assets

 

Stocks

7

132,637

319,602

Debtors

8

983,595

890,529

Cash at bank and in hand

 

209,381

463,205

 

1,325,613

1,673,336

Creditors: Amounts falling due within one year

9

(253,244)

(207,925)

Net current assets

 

1,072,369

1,465,411

Total assets less current liabilities

 

1,542,235

1,938,223

Creditors: Amounts falling due after more than one year

9

(149,805)

(181,054)

Provisions for liabilities

-

(1,354)

Net assets

 

1,392,430

1,755,815

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,392,330

1,755,715

Shareholders' funds

 

1,392,430

1,755,815

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 February 2025
 

 

WJD Repairs Limited

(Registration number: 09544046)
Balance Sheet as at 31 May 2024

.........................................
Mr W J Dalingwater
Director

 

WJD Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 9
Yorkshire Way
Armthorpe
Doncaster
South Yorkshire
DN3 3FB

These financial statements were authorised for issue by the director on 24 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company heads a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

WJD Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long Leasehold Buildings

50 years straight line

Fixtures & Fittings

25% reducing balance

Plant & Machinery

20% reducting balance

Office Equipment

33% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

WJD Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

WJD Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 15).

 

WJD Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

15,081

12,064

5

Tangible assets

Included within the net book value of land and buildings above is £455,900 (2023 - £465,600) in respect of long leasehold land and buildings.
 

 

WJD Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 June 2023

485,000

3,736

4,353

3,296

Additions

-

4,712

-

8,281

Disposals

-

-

-

(1,915)

At 31 May 2024

485,000

8,448

4,353

9,662

Depreciation

At 1 June 2023

19,400

1,229

1,270

1,759

Charge for the year

9,700

1,807

617

2,957

Eliminated on disposal

-

-

-

(1,057)

At 31 May 2024

29,100

3,036

1,887

3,659

Carrying amount

At 31 May 2024

455,900

5,412

2,466

6,003

At 31 May 2023

465,600

2,507

3,083

1,537

Total
£

Cost or valuation

At 1 June 2023

496,385

Additions

12,993

Disposals

(1,915)

At 31 May 2024

507,463

Depreciation

At 1 June 2023

23,658

Charge for the year

15,081

Eliminated on disposal

(1,057)

At 31 May 2024

37,682

Carrying amount

At 31 May 2024

469,781

At 31 May 2023

472,727

 

WJD Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

85

85

Subsidiaries

£

Cost or valuation

At 1 June 2023

85

Provision

Carrying amount

At 31 May 2024

85

At 31 May 2023

85

7

Stocks

2024
£

2023
£

Other inventories

132,637

319,602

8

Debtors

2024
£

2023
£

Trade debtors

183,885

86,816

Other debtors

797,613

799,312

Prepayments

2,097

4,401

983,595

890,529

 

WJD Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

54,377

52,200

Trade creditors

 

21,931

7,858

Taxation and social security

 

51,220

17,131

Corporation tax

 

-

11,402

Other creditors

 

120,121

113,584

Accrued expenses

 

5,595

5,750

 

253,244

207,925

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

149,805

181,054

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

149,805

181,054

Current loans and borrowings

2024
£

2023
£

Bank borrowings

54,377

52,200