TERRY WATERS FRENCH POLISHING LIMITED

Company Registration Number:
02750483 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

TERRY WATERS FRENCH POLISHING LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Notes

TERRY WATERS FRENCH POLISHING LIMITED

Balance sheet

As at 30 September 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 113,017 91,335
Total fixed assets: 113,017 91,335
Current assets
Stocks: 2,975 2,975
Debtors:   370,360 216,302
Cash at bank and in hand: 80,417 35,761
Total current assets: 453,752 255,038
Creditors: amounts falling due within one year:   (259,077) (165,453)
Net current assets (liabilities): 194,675 89,585
Total assets less current liabilities: 307,692 180,920
Creditors: amounts falling due after more than one year:   (36,166) (44,732)
Provision for liabilities: (28,255) (17,322)
Total net assets (liabilities): 243,271 118,866
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 243,171 118,766
Shareholders funds: 243,271 118,866

The notes form part of these financial statements

TERRY WATERS FRENCH POLISHING LIMITED

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 May 2025
and signed on behalf of the board by:

Name: A N Waters
Status: Director

The notes form part of these financial statements

TERRY WATERS FRENCH POLISHING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents net invoiced sales of goods and services, excluding Value Added Tax. Turnover is recognised for services where the company has carried out the service and is entitled to bill the customer for work undertaken.

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Improvements to property - 10% on cost Plant and machinery - 15% on reducing balance Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance

Valuation and information policy

Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is defined in relation to the various categories of stock at being that expenditure which has been incurred in the normal course of business in bringing the product to its present location and condition. This expenditure includes, in addition to the cost of purchase such costs of conversion as are appropriate to that location and condition, on a first-in first-out basis. Net realisable value is the estimated proceeds receivable, less any costs incurred in selling the product.

Other accounting policies

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 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 the 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 Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter, The interest element of these obligations is charged to profit or loss over the relevant period, The capital element of the future payments is treated as a liability. 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.

TERRY WATERS FRENCH POLISHING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

2. Employees

2024 2023
Average number of employees during the period 19 16

TERRY WATERS FRENCH POLISHING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible Assets

Total
Cost £
At 01 October 2023 327,506
Additions 46,235
Disposals (16,300)
At 30 September 2024 357,441
Depreciation
At 01 October 2023 236,171
Charge for year 23,420
On disposals (15,167)
At 30 September 2024 244,424
Net book value
At 30 September 2024 113,017
At 30 September 2023 91,335