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Registered Number: 08649140
England and Wales

 

 

 

WG (CORNWALL) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of WG (Cornwall) Limited for the year ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WG (Cornwall) Limited for the year ended 31 August 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of WG (Cornwall) Limited , as a body, in accordance with the terms of our engagement letter dated 25 April 2025. Our work has been undertaken solely to prepare for your approval the accounts of WG (Cornwall) Limited and state those matters that we have agreed to state to the Board of Directors of WG (Cornwall) Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WG (Cornwall) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that WG (Cornwall) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of WG (Cornwall) Limited . You consider that WG (Cornwall) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of WG (Cornwall) Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
31 August 2024



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
25 April 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,161    1,556 
1,161    1,556 
Current assets      
Stocks 5,000    500 
Debtors 8,183    544 
Cash at bank and in hand 9,438    35,667 
22,621    36,711 
Creditors: amount falling due within one year (44,162)   (63,112)
Net current assets (21,541)   (26,401)
 
Total assets less current liabilities (20,380)   (24,845)
Creditors: amount falling due after more than one year (8,333)   (13,338)
Provisions for liabilities (516)   8,168 
Net assets (29,229)   (30,015)
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account (29,329)   (30,115)
Shareholders' funds (29,229)   (30,015)
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 25 April 2025 and were signed on its behalf by:


-------------------------------
Lesley Mary Lusty
Director
2
General Information
WG (Cornwall) Limited is a private company, limited by shares, registered in England and Wales, registration number 08649140, registration address Dor Velha Kenwyn, Truro, Cornwall, TR4 9BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 September 2023 1,662    18,725    1,316    21,703 
Additions      
Disposals      
At 31 August 2024 1,662    18,725    1,316    21,703 
Depreciation
At 01 September 2023 1,447    17,671    1,029    20,147 
Charge for year 60    264    71    395 
On disposals      
At 31 August 2024 1,507    17,935    1,100    20,542 
Net book values
Closing balance as at 31 August 2024 155    790    216    1,161 
Opening balance as at 01 September 2023 215    1,054    287    1,556 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3