Company Registration No. 07292099 (England and Wales)
Wardolls Limited
Unaudited accounts
for the year ended 30 June 2024
Wardolls Limited
Unaudited accounts
Contents
Wardolls Limited
Company Information
for the year ended 30 June 2024
Directors
Edward Francis Pearson
Oliver William Pearson
Company Number
07292099 (England and Wales)
Registered Office
BROOKLANDS HOUSE 58 SPRINGFIELD WAY
ANLABY
HULL
EAST YORKSHIRE
HU10 6RJ
ENGLAND
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Wardolls Limited
Statement of financial position
as at 30 June 2024
Tangible assets
226,291
134,925
Inventories
654,000
604,000
Cash at bank and in hand
122
5,943
Creditors: amounts falling due within one year
(1,290,276)
(1,280,583)
Net current assets
31,984
31,103
Total assets less current liabilities
258,275
166,028
Creditors: amounts falling due after more than one year
(62,077)
(50,319)
Provisions for liabilities
Deferred tax
(56,573)
(25,635)
Called up share capital
100
100
Profit and loss account
139,525
89,974
Shareholders' funds
139,625
90,074
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by
Edward Francis Pearson
Director
Company Registration No. 07292099
Wardolls Limited
Notes to the Accounts
for the year ended 30 June 2024
Wardolls Limited is a private company, limited by shares, registered in England and Wales, registration number 07292099. The registered office is BROOKLANDS HOUSE 58 SPRINGFIELD WAY, ANLABY, HULL, EAST YORKSHIRE, HU10 6RJ, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% wdv
Computer equipment
25% wdv
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Wardolls Limited
Notes to the Accounts
for the year ended 30 June 2024
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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 or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2023
62,859
104,598
36,000
4,702
208,159
Additions
75,000
42,460
-
-
117,460
At 30 June 2024
137,859
147,058
36,000
4,702
325,619
At 1 July 2023
14,196
48,277
9,180
1,581
73,234
Charge for the year
12,366
10,265
2,683
780
26,094
At 30 June 2024
26,562
58,542
11,863
2,361
99,328
At 30 June 2024
111,297
88,516
24,137
2,341
226,291
At 30 June 2023
48,663
56,321
26,820
3,121
134,925
Amounts falling due within one year
Trade debtors
653,008
692,730
Amounts due from group undertakings etc.
3,513
-
Accrued income and prepayments
11,617
9,013
Wardolls Limited
Notes to the Accounts
for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
115,016
92,119
Obligations under finance leases and hire purchase contracts
16,545
10,322
Trade creditors
383,638
1,008,335
Amounts owed to group undertakings and other participating interests
52,724
21,783
Taxes and social security
57,180
63,320
Other creditors
26,836
21,056
Loans from directors
638,301
61,363
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
51,311
27,990
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
As at 30th June 2024 Wardolls Limited owed Pearson Holding (Hull) Limited £28,234 (2023:£21,783). This sum is interest free and payable on demand.
As at 30th June 2024 Wardolls Limited owed Prestige Properties (Hull) Ltd £16,500. This sum is interest free and payable on demand.
As at 30th June 2024 Wardolls Limited was owed £3,512 by Grayson Developments (Hull) Limited. This sum is interest free and payable on demand.
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Average number of employees
During the year the average number of employees was 21 (2023: 23).