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Company registration number: 07395945
W N SURFACING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2024
W N SURFACING LIMITED
Contents
Directors report
Accountant's report
Statement of financial position
Notes to the financial statements
W N SURFACING LIMITED
Directors report
Year ended 30 November 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2024.
Directors
The directors who served the company during the year were as follows:
Mr R Moore
Mrs C E Moore
Mr C Moore
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 24 March 2025 and signed on behalf of the board by:
Mr R Moore
Director
W N SURFACING LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of W N Surfacing Limited
Year ended 30 November 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 November 2024 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
R M F Pola FCA
Jenemi Associates Limited
2 Low Road
Congham
Kings Lynn
Norfolk
PE32 1AE
24 March 2025
W N SURFACING LIMITED
Statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 813,527 909,204
_______ _______
813,527 909,204
Current assets
Debtors 6 1,306,954 953,577
Cash at bank and in hand 911,635 706,187
_______ _______
2,218,589 1,659,764
Creditors: amounts falling due
within one year 7 ( 1,660,083) ( 1,206,899)
_______ _______
Net current assets 558,506 452,865
_______ _______
Total assets less current liabilities 1,372,033 1,362,069
Creditors: amounts falling due
after more than one year 8 ( 83,208) ( 208,057)
Provisions for liabilities 9 ( 154,570) ( 172,749)
_______ _______
Net assets 1,134,255 981,263
_______ _______
Capital and reserves
Called up share capital 11 1,010 1,010
Profit and loss account 1,133,245 980,253
_______ _______
Shareholders funds 1,134,255 981,263
_______ _______
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
Mr R Moore
Director
Company registration number: 07395945
W N SURFACING LIMITED
Notes to the financial statements
Year ended 30 November 2024
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
3. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 169,463 134,407
_______ _______
4. Tax on profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 251,066 213,015
_______ _______
Deferred tax:
Origination and reversal of timing differences ( 18,179) 86,724
_______ _______
Tax on profit 232,887 299,739
_______ _______
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 800,084 22,699 801,283 1,624,066
Additions 1,150 6,160 66,476 73,786
_______ _______ _______ _______
At 30 November 2024 801,234 28,859 867,759 1,697,852
_______ _______ _______ _______
Depreciation
At 1 December 2023 169,766 11,501 533,595 714,862
Charge for the year 94,605 2,142 72,716 169,463
_______ _______ _______ _______
At 30 November 2024 264,371 13,643 606,311 884,325
_______ _______ _______ _______
Carrying amount
At 30 November 2024 536,863 15,216 261,448 813,527
_______ _______ _______ _______
At 30 November 2023 630,318 11,198 267,688 909,204
_______ _______ _______ _______
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
£
At 30 November 2024 380,884
_______
At 30 November 2023 448,098
_______
6. Debtors
2024 2023
£ £
Trade debtors 1,283,843 854,646
Other debtors 23,111 98,931
_______ _______
1,306,954 953,577
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 328,178 276,988
Corporation tax 251,066 213,015
Social security and other taxes 54,006 18,930
Other creditors 1,026,833 697,966
_______ _______
1,660,083 1,206,899
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 83,208 208,057
_______ _______
9. Provisions
Deferred tax (note 10) Total
£ £
At 1 December 2023 172,749 172,749
Additions ( 18,179) ( 18,179)
_______ _______
At 30 November 2024 154,570 154,570
_______ _______
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 9) 154,570 172,749
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 154,570 172,749
_______ _______
11. Called up share capital
Authorised share capital
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
Ordinary Z Non Voting shares of £ 1.00 each 10 10 10 10
_______ _______ _______ _______
1,010 1,010 1,010 1,010
_______ _______ _______ _______
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
Ordinary Z Non Voting shares of £ 1.00 each 10 10 10 10
_______ _______ _______ _______
1,010 1,010 1,010 1,010
_______ _______ _______ _______