2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-31 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07972113 2023-03-31 2024-03-30 07972113 2024-03-30 07972113 2023-03-30 07972113 2022-03-31 2023-03-30 07972113 2023-03-30 07972113 2022-03-30 07972113 core:PlantMachinery 2023-03-31 2024-03-30 07972113 core:MotorVehicles 2023-03-31 2024-03-30 07972113 bus:Director1 2023-03-31 2024-03-30 07972113 core:PlantMachinery 2023-03-30 07972113 core:MotorVehicles 2023-03-30 07972113 core:PlantMachinery 2024-03-30 07972113 core:MotorVehicles 2024-03-30 07972113 core:WithinOneYear 2024-03-30 07972113 core:WithinOneYear 2023-03-30 07972113 core:AfterOneYear 2024-03-30 07972113 core:AfterOneYear 2023-03-30 07972113 core:ShareCapital 2024-03-30 07972113 core:ShareCapital 2023-03-30 07972113 core:RetainedEarningsAccumulatedLosses 2024-03-30 07972113 core:RetainedEarningsAccumulatedLosses 2023-03-30 07972113 core:PlantMachinery 2023-03-30 07972113 core:MotorVehicles 2023-03-30 07972113 bus:SmallEntities 2023-03-31 2024-03-30 07972113 bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-30 07972113 bus:SmallCompaniesRegimeForAccounts 2023-03-31 2024-03-30 07972113 bus:PrivateLimitedCompanyLtd 2023-03-31 2024-03-30 07972113 bus:FullAccounts 2023-03-31 2024-03-30 07972113 core:ComputerEquipment 2023-03-31 2024-03-30 07972113 core:ComputerEquipment 2024-03-30 07972113 core:ComputerEquipment 2023-03-30
COMPANY REGISTRATION NUMBER: 07972113
CHILDS W LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 March 2024
CHILDS W LIMITED
STATEMENT OF FINANCIAL POSITION
30 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
4,227
5,511
CURRENT ASSETS
Stocks
98,342
85,768
Debtors
6
123,392
107,392
Cash at bank and in hand
63,336
32,688
---------
---------
285,070
225,848
CREDITORS: amounts falling due within one year
7
141,915
119,110
---------
---------
NET CURRENT ASSETS
143,155
106,738
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
147,382
112,249
CREDITORS: amounts falling due after more than one year
8
12,257
22,457
PROVISIONS
60
123
---------
---------
NET ASSETS
135,065
89,669
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
1
1
Profit and loss account
135,064
89,668
---------
--------
SHAREHOLDERS FUNDS
135,065
89,669
---------
--------
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 March 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 .
CHILDS W LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 February 2025 , and are signed on behalf of the board by:
Mr W F Childs
Director
Company registration number: 07972113
CHILDS W LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 MARCH 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 56 Drayton Road, Lowick, Kettering, Northamptonshire, NN14 3BG.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
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 and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 31 March 2023 and 30 March 2024
8,729
54,000
1,980
64,709
-------
--------
-------
--------
Depreciation
At 31 March 2023
6,876
50,342
1,980
59,198
Charge for the year
370
914
1,284
-------
--------
-------
--------
At 30 March 2024
7,246
51,256
1,980
60,482
-------
--------
-------
--------
Carrying amount
At 30 March 2024
1,483
2,744
4,227
-------
--------
-------
--------
At 30 March 2023
1,853
3,658
5,511
-------
--------
-------
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
123,392
107,392
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,200
9,946
Trade creditors
16,074
11,730
Corporation tax
19,825
960
Social security and other taxes
32,653
24,254
Other creditors
63,163
72,220
---------
---------
141,915
119,110
---------
---------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,257
22,457
--------
--------