Company registration number 05721460 (England and Wales)
WILLOWCHEM TECHNOLOGY LIMITED
Unaudited Financial Statements
for the Year Ended 31 August 2024
WILLOWCHEM TECHNOLOGY LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
1,620
1,620
Cash at bank and in hand
215
299
1,835
1,919
Creditors: amounts falling due within one year
3
(7,483)
(7,183)
Net current liabilities
(5,648)
(5,264)
Capital and reserves
Called up share capital
90
90
Profit and loss reserves
(5,738)
(5,354)
Total equity
(5,648)
(5,264)

For the financial 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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
Mrs C J Williams
Director
Company registration number 05721460 (England and Wales)
WILLOWCHEM TECHNOLOGY LIMITED
Notes to the Financial Statements
For the Year Ended 31 August 2024
- 2 -
1
Accounting policies
Company information

Willowchem Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 6 & 7, Hirwaun Industrial Estate, Hirwaun, Rhondda Cynon Taff, CF44 9YE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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 balance sheet 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 debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised at transaction price.

WILLOWCHEM TECHNOLOGY LIMITED
Notes to the Financial Statements
For the Year Ended 31 August 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
7,183
6,883
Accruals and deferred income
300
300
7,483
7,183
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