Registered number
15123495
WRD Services Limited
Filleted Accounts
30 September 2024
WRD Services Limited
Registered number: 15123495
Balance Sheet
as at 30 September 2024
Notes 2024
£
Fixed assets
Intangible assets 3 36,000
Tangible assets 4 29,505
65,505
Current assets
Debtors 5 5,978
Cash at bank and in hand 49,230
55,208
Creditors: amounts falling due within one year 6 (53,376)
Net current assets 1,832
Total assets less current liabilities 67,337
Creditors: amounts falling due after more than one year 7 (66,600)
Net assets 737
Capital and reserves
Called up share capital 1
Profit and loss account 736
Shareholder's funds 737
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
LA Strawford
Director
Approved by the board on 31 October 2024
WRD Services Limited
Notes to the Accounts
for the period from 7 September 2023 to 30 September 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:
Computer equipment over 4 years
Motor vehicles over 4 years
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Intangible fixed assets £
Goodwill:
Cost
Additions 40,000
At 30 September 2024 40,000
Amortisation
Provided during the period 4,000
At 30 September 2024 4,000
Net book value
At 30 September 2024 36,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Computer equipment Motor vehicles Total
£ £ £
Cost
Additions 941 38,400 39,341
At 30 September 2024 941 38,400 39,341
Depreciation
Charge for the period 236 9,600 9,836
At 30 September 2024 236 9,600 9,836
Net book value
At 30 September 2024 705 28,800 29,505
5 Debtors 2024
£
Trade debtors 5,288
Other debtors 690
5,978
6 Creditors: amounts falling due within one year 2024
£
Taxation and social security costs 14,634
Directors loan account 37,909
Other creditors 833
53,376
7 Creditors: amounts falling due after one year 2024
£
Bank loans 35,767
Other creditors 30,833
66,600
8 Controlling party
The company is controlled by the director.
9 Other information
WRD Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
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