REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
WESSEX COMPRESSORS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
WESSEX COMPRESSORS LIMITED |
WESSEX COMPRESSORS LIMITED (REGISTERED NUMBER: 09233502) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 2 |
WESSEX COMPRESSORS LIMITED (REGISTERED NUMBER: 09233502) |
BALANCE SHEET |
30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 7 |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WESSEX COMPRESSORS LIMITED (REGISTERED NUMBER: 09233502) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
1. | Statutory information |
Wessex Compressors Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09233502. The registered office and business address is Unit 9 Chantry Park, 2 Cowley Road, Nuffield Industrial Estate, Poole, Dorset, BH17 0UJ. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents income receivable from the sale and service of compressed air equipment, net of VAT and trade discounts. |
Tangible fixed assets |
Leasehold property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Freehold property is stated at fair value as long as a value can be measured reliably. This was reviewed by the directors on 30 September 2024 and it was confirmed that the fair value remains in line with the cost at the year-end. |
Stocks |
Stock is valued at the lower of cost and net realisable value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
WESSEX COMPRESSORS LIMITED (REGISTERED NUMBER: 09233502) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2. | Accounting policies - continued |
Group accounts |
The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
Freehold | Leasehold | and |
property | property | fittings |
£ | £ | £ |
Cost |
At 1 October 2023 |
Additions |
At 30 September 2024 |
Depreciation |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
Net book value |
At 30 September 2024 |
At 30 September 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1 October 2023 |
Additions |
At 30 September 2024 |
Depreciation |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
Net book value |
At 30 September 2024 |
At 30 September 2023 |
WESSEX COMPRESSORS LIMITED (REGISTERED NUMBER: 09233502) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 20,302 | 27,874 |
Other creditors |
Directors' current accounts | 357 | 991 |
Accruals and deferred income |
7. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 5,292 | 10,448 |
Deferred |
tax |
£ |
Balance at 1 October 2023 |
Credit to Income statement during year | ( |
) |
Balance at 30 September 2024 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 4 | 4 |
9. | Ultimate controlling party |
At the beginning of the period, the company was controlled by the directors. |
However, a share for share exchange took place during the period and subsequently the company is now controlled by its parent company, W C S Holdings (Dorset) Ltd, by virtue of its 100% ownership of the issued share capital. |
The parent company's registered office address is Unit 9 Chantry Park, 2 Cowley Road, Nuffield Industrial Estate, Poole, Dorset, BH17 0UJ. |
The ultimate controlling party is Mr & Mrs Whetlor by virtue of their 100% ownership of the parent company's issued share capital. |