Company registration number 7250663 (England and Wales)
WBV LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
WBV LIMITED
COMPANY INFORMATION
Directors
Mr TJ Jones
D Rowe
RN Chapple
Company number
7250663
Registered office
Woodfield House
Castle Walk
Neath
SA11 3LN
Accountants
WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
WBV LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WBV LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,060,810
1,123,210
Tangible assets
4
1,289
1,611
1,062,099
1,124,821
Current assets
Debtors
5
814,043
799,735
Cash at bank and in hand
109,066
69,239
923,109
868,974
Creditors: amounts falling due within one year
6
(503,937)
(493,258)
Net current assets
419,172
375,716
Total assets less current liabilities
1,481,271
1,500,537
Creditors: amounts falling due after more than one year
8
(1,309,702)
(1,323,680)
Provisions for liabilities
(14)
(14)
Net assets
171,555
176,843
Capital and reserves
Called up share capital
20
20
Profit and loss reserves
171,535
176,823
Total equity
171,555
176,843

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

WBV LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
Mr TJ Jones
D Rowe
Director
Director
RN Chapple
Director
Company registration number 7250663 (England and Wales)
WBV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

WBV Limited is a private company limited by shares incorporated in England and Wales. The registered office is Woodfield House, Castle Walk, Neath, SA11 3LN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Intangible fixed assets - goodwill

Goodwill represents the amount paid for the acquisition of the businesses in 2010 is being amortised over a period which the directors consider represents the useful life of the goodwill.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
10% on cost and 20% on reducing balance
Computers
33% on cost
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

WBV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
41
38
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
1,560,010
Amortisation and impairment
At 1 July 2023
436,800
Amortisation charged for the year
62,400
At 30 June 2024
499,200
Carrying amount
At 30 June 2024
1,060,810
At 30 June 2023
1,123,210
WBV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
161,078
Depreciation and impairment
At 1 July 2023
159,467
Depreciation charged in the year
322
At 30 June 2024
159,789
Carrying amount
At 30 June 2024
1,289
At 30 June 2023
1,611
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
533,863
538,574
Other debtors
280,180
261,161
814,043
799,735
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
64,884
64,884
Trade creditors
131,049
79,580
Corporation tax
15,481
9,416
Other taxation and social security
65,711
61,553
Other creditors
226,812
277,825
503,937
493,258
7
Secured Debts

The amount due in respect of loans totalling £174,819 at 30th June 2024 (2023 - £229,489) is secured by means of fixed and floating charges over the assets of the company and by limited personal guarantees given by the directors.

 

WBV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
109,935
164,605
Other creditors
1,199,767
1,159,075
1,309,702
1,323,680
10
Ultimate controlling party

The Directors are of the opinion that there is no ultimate controlling party.

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