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WHARFEDALE ANTIQUES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024






WHARFEDALE ANTIQUES LIMITED (REGISTERED NUMBER: 13045561)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHARFEDALE ANTIQUES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTOR: Mrs D S Conway





REGISTERED OFFICE: 19 South Hawksworth Street
Ilkley
West Yorkshire
LS29 9DX





REGISTERED NUMBER: 13045561 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Suite 1.07
International Dev. Centre
Valley Road
Ilkley
West Yorkshire
LS29 8AL

WHARFEDALE ANTIQUES LIMITED (REGISTERED NUMBER: 13045561)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 124,750 140,250
Tangible assets 5 14,130 17,001
138,880 157,251

CURRENT ASSETS
Stocks 113,995 56,585
Debtors 6 732 4,357
Cash at bank 21,130 54,106
135,857 115,048
CREDITORS
Amounts falling due within one year 7 148,838 196,561
NET CURRENT LIABILITIES (12,981 ) (81,513 )
TOTAL ASSETS LESS CURRENT LIABILITIES 125,899 75,738

PROVISIONS FOR LIABILITIES 8 3,299 3,570
NET ASSETS 122,600 72,168

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 122,500 72,068
SHAREHOLDERS' FUNDS 122,600 72,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

WHARFEDALE ANTIQUES LIMITED (REGISTERED NUMBER: 13045561)

BALANCE SHEET - continued
31ST DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21st March 2025 and were signed by:





Mrs D S Conway - Director


WHARFEDALE ANTIQUES LIMITED (REGISTERED NUMBER: 13045561)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Wharfedale Antiques Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


WHARFEDALE ANTIQUES LIMITED (REGISTERED NUMBER: 13045561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 155,000
AMORTISATION
At 1st January 2024 14,750
Charge for year 15,500
At 31st December 2024 30,250
NET BOOK VALUE
At 31st December 2024 124,750
At 31st December 2023 140,250

WHARFEDALE ANTIQUES LIMITED (REGISTERED NUMBER: 13045561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 20,001
Additions 1,648
At 31st December 2024 21,649
DEPRECIATION
At 1st January 2024 3,000
Charge for year 4,519
At 31st December 2024 7,519
NET BOOK VALUE
At 31st December 2024 14,130
At 31st December 2023 17,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 3,416
Prepayments 732 941
732 4,357

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 24,311 14,075
VAT 3,358 3,114
Other creditors 50,000 100,000
Directors' current accounts 69,644 77,920
Accrued expenses 1,525 1,452
148,838 196,561

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 3,299 3,570

WHARFEDALE ANTIQUES LIMITED (REGISTERED NUMBER: 13045561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st January 2024 3,570
Credit to Statement of Income and Retained Earnings during year (271 )
Balance at 31st December 2024 3,299

The movement in the deferred tax provision is wholly attributable to accelerated capital allowances.

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100 Share capital 1 1 100 100