Registered number
13574936
Wow Treats Ltd
Report and Accounts
31 July 2024
Wow Treats Ltd
Registered number: 13574936
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 81,741 87,423
Tangible assets 4 53,660 67,075
135,401 154,498
Current assets
Stocks 34,870 37,020
Debtors 5 7,500 2,000
Cash at bank and in hand 18,784 17,810
61,154 56,830
Creditors: amounts falling due within one year 6 (40,239) (40,866)
Net current assets 20,915 15,964
Total assets less current liabilities 156,316 170,462
Creditors: amounts falling due after more than one year 7 (62,347) (71,656)
Net assets 93,969 98,806
Capital and reserves
Called up share capital 1 1
Profit and loss account 93,968 98,805
Shareholders' funds 93,969 98,806
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Tariq Mahmood
Director
Approved by the board on 17 February 2025
Wow Treats Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% Reducing balance
Fixtures, fittings, tools and equipment 20% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 100,000
At 31 July 2024 100,000
Amortisation
At 1 August 2023 12,577
Provided during the year 5,682
At 31 July 2024 18,259
Net book value
At 31 July 2024 81,741
At 31 July 2023 87,423
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 104,804
At 31 July 2024 104,804
Depreciation
At 1 August 2023 37,729
Charge for the year 13,415
At 31 July 2024 51,144
Net book value
At 31 July 2024 53,660
At 31 July 2023 67,075
5 Debtors 2024 2023
£ £
Other debtors 7,500 2,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 17,295 10,178
Taxation and social security costs 22,944 30,688
40,239 40,866
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 48,391 -
Other creditors 13,956 71,656
62,347 71,656
8 Other information
Wow Treats Ltd is a private company limited by shares and incorporated in England. Its registered office is:
119-121 High Street
Bedford
MK40 1NU
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