Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-07-03falseNo description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14974657 2023-07-02 14974657 2023-07-03 2024-07-31 14974657 2022-07-03 2023-07-02 14974657 2024-07-31 14974657 c:Director1 2023-07-03 2024-07-31 14974657 d:PlantMachinery 2023-07-03 2024-07-31 14974657 d:PlantMachinery 2024-07-31 14974657 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-03 2024-07-31 14974657 d:MotorVehicles 2023-07-03 2024-07-31 14974657 d:MotorVehicles 2024-07-31 14974657 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-03 2024-07-31 14974657 d:OwnedOrFreeholdAssets 2023-07-03 2024-07-31 14974657 d:Goodwill 2023-07-03 2024-07-31 14974657 d:Goodwill 2024-07-31 14974657 d:CurrentFinancialInstruments 2024-07-31 14974657 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 14974657 d:ShareCapital 2024-07-31 14974657 d:RetainedEarningsAccumulatedLosses 2024-07-31 14974657 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 14974657 c:FRS102 2023-07-03 2024-07-31 14974657 c:AuditExempt-NoAccountantsReport 2023-07-03 2024-07-31 14974657 c:FullAccounts 2023-07-03 2024-07-31 14974657 c:PrivateLimitedCompanyLtd 2023-07-03 2024-07-31 14974657 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-07-03 2024-07-31 14974657 d:Goodwill d:OwnedIntangibleAssets 2023-07-03 2024-07-31 14974657 e:PoundSterling 2023-07-03 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 14974657










WARD-SMITH INTERIORS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2024

 
WARD-SMITH INTERIORS LIMITED
REGISTERED NUMBER: 14974657

BALANCE SHEET
AS AT 31 JULY 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
4,167

Tangible assets
 5 
18,370

  
22,537

Current assets
  

Debtors: amounts falling due within one year
 6 
1,622

Cash at bank and in hand
 7 
7,667

  
9,289

Creditors: amounts falling due within one year
 8 
(26,898)

Net current (liabilities)/assets
  
 
 
(17,609)

Total assets less current liabilities
  
4,928

Provisions for liabilities
  

Deferred tax
 9 
(4,593)

  
 
 
(4,593)

Net assets
  
335


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
235

  
335


Page 1

 
WARD-SMITH INTERIORS LIMITED
REGISTERED NUMBER: 14974657

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2025.




S Ward-Smith
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WARD-SMITH INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

Going concern

The company had net current liabilities at 31 July 2024 of £17,609. However, the director is of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In the light of these factors, the director considers it appropriate to adopt the going concern basis in the preparation of these financial statements.

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
WARD-SMITH INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.Accounting policies (continued)

 
1.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
1.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WARD-SMITH INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.Accounting policies (continued)


1.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
WARD-SMITH INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.


General information

Ward-Smith Interiors Limited is a private limited company incorporated on 3rd July 2023 in England and Wales. The Registered Office is Kingsridge House, 601 London Road, Westcliff on Sea, Essex SS0 9PE.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Intangible assets



Goodwill

£



Cost


Additions
5,000



At 31 July 2024

5,000



Amortisation


Charge for the period on owned assets
833



At 31 July 2024

833



Net book value



At 31 July 2024
4,167



Page 6

 
WARD-SMITH INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


Additions
9,808
12,000
21,808



At 31 July 2024

9,808
12,000
21,808



Depreciation


Charge for the period on owned assets
1,438
2,000
3,438



At 31 July 2024

1,438
2,000
3,438



Net book value



At 31 July 2024
8,370
10,000
18,370


6.


Debtors

2024
£


Trade debtors
242

Prepayments and accrued income
1,380

1,622



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
7,667

7,667


Page 7

 
WARD-SMITH INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
3,017

Corporation tax
637

Other taxation and social security
2,325

Other creditors
19,818

Accruals and deferred income
1,101

26,898



9.


Deferred taxation



2024


£






Charged to profit or loss
(4,593)



At end of year
(4,593)

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
(4,593)

(4,593)


10.


Related party transactions

During the period, dividends amounting to £15,000 were paid to the director.


Page 8