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Registered number: 12691346
W.E.S (Cheltenham) Limited
Financial Statements
For the Period 1 July 2023 to 31 July 2024
AP&Co.
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12691346
31 July 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 77,730 67,809
Investments 5 50,750 21,500
128,480 89,309
CURRENT ASSETS
Stocks 6 20,000 20,000
Debtors 7 129,487 107,382
Cash at bank and in hand 32,441 56,708
181,928 184,090
Creditors: Amounts Falling Due Within One Year 8 (56,061 ) (73,697 )
NET CURRENT ASSETS (LIABILITIES) 125,867 110,393
TOTAL ASSETS LESS CURRENT LIABILITIES 254,347 199,702
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,433 ) (16,952 )
NET ASSETS 234,914 182,750
CAPITAL AND RESERVES
Called up share capital 9 300 300
Profit and Loss Account 234,614 182,450
SHAREHOLDERS' FUNDS 234,914 182,750
Page 1
Page 2
For the period ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
W Lane
Director
G Cookes
Director
24/03/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
W.E.S (Cheltenham) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12691346 . The registered office is 1 Court Mews London Road, Charlton Kings, Cheltenham, Gloucestershire, GL52 6HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 6 (2023: 4)
6 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 16,083 82,794 12,236 111,113
Additions 9,202 25,174 1,955 36,331
As at 31 July 2024 25,285 107,968 14,191 147,444
Depreciation
As at 1 July 2023 3,489 33,737 6,078 43,304
Provided during the period 4,358 18,559 3,493 26,410
As at 31 July 2024 7,847 52,296 9,571 69,714
Net Book Value
As at 31 July 2024 17,438 55,672 4,620 77,730
As at 1 July 2023 12,594 49,057 6,158 67,809
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5. Investments
Other
£
Cost
As at 1 July 2023 21,500
Additions 29,250
As at 31 July 2024 50,750
Provision
As at 1 July 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 50,750
As at 1 July 2023 21,500
6. Stocks
31 July 2024 30 June 2023
£ £
Work in progress 20,000 20,000
7. Debtors
31 July 2024 30 June 2023
£ £
Due within one year
Trade debtors 81,815 77,175
Other debtors 47,672 30,207
129,487 107,382
8. Creditors: Amounts Falling Due Within One Year
31 July 2024 30 June 2023
£ £
Trade creditors 48,561 41,398
Corporation tax 49,077 22,653
Other creditors (45,941 ) 4,605
Accruals and deferred income 3,105 4,050
Directors' loan accounts 1,259 991
56,061 73,697
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Page 6
9. Share Capital
31 July 2024 30 June 2023
£ £
Allotted, Called up and fully paid 300 300
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