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REGISTERED NUMBER: 07533137 (England and Wales)










Financial Statements

For The Year Ended 31 December 2024

for

Washware Essentials Ltd

Washware Essentials Ltd (Registered number: 07533137)






Contents of the Financial Statements
For The Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Washware Essentials Ltd

Company Information
For The Year Ended 31 December 2024







DIRECTOR: P D Thorn





REGISTERED OFFICE: 5 Brearley Court
Baird Road
Quedgeley
Gloucester
GL2 2AF





REGISTERED NUMBER: 07533137 (England and Wales)





AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Washware Essentials Ltd (Registered number: 07533137)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 28,560 17,850
Tangible assets 5 - 205
28,560 18,055

CURRENT ASSETS
Stocks 7,948 8,140
Debtors 6 17,040 37,213
Cash at bank 290,314 453,490
315,302 498,843
CREDITORS
Amounts falling due within one year 7 316,771 494,963
NET CURRENT (LIABILITIES)/ASSETS (1,469 ) 3,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,091

21,935

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 26,991 21,835
SHAREHOLDERS' FUNDS 27,091 21,935

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2025 and were signed by:





P D Thorn - Director


Washware Essentials Ltd (Registered number: 07533137)

Notes to the Financial Statements
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

Washware Essentials Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The company's ultimate parent company Acorn Engineering Inc produces consolidated accounts. Copies of these can be obtained from its registered office 15125 Proctor Avenue, City of Industry, CA 91746 U.S.A.

The company's immediate parent is Acorn Thorn Limited, a company incorporated in the U.K.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed over to the buyer (usually on the dispatch of goods) and the amount of revenue can be measured reliably.

Intangible fixed asset - company website
Intangible assets are measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The website is being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Washware Essentials Ltd (Registered number: 07533137)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables that are classified as debt, are recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.


Washware Essentials Ltd (Registered number: 07533137)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 56,850
Additions 17,850
Disposals (39,000 )
At 31 December 2024 35,700
AMORTISATION
At 1 January 2024 39,000
Charge for year 7,140
Eliminated on disposal (39,000 )
At 31 December 2024 7,140
NET BOOK VALUE
At 31 December 2024 28,560
At 31 December 2023 17,850

Washware Essentials Ltd (Registered number: 07533137)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2024
and 31 December 2024 4,166
DEPRECIATION
At 1 January 2024 3,961
Charge for year 205
At 31 December 2024 4,166
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 205

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 17,040 36,975
Other debtors - 238
17,040 37,213

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 235 395
Trade creditors 8,536 7,527
Amounts owed to group undertakings 157,956 267,338
Tax 91,851 116,750
Social security and other taxes 4,711 4,976
VAT 30,496 42,744
Other creditors 1,363 1,038
Accruals and deferred income 21,623 54,195
316,771 494,963

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £1 100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Morgan ACA (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited