Company No:
Contents
| DIRECTOR | S Werren |
| REGISTERED OFFICE | 22 Wycombe End |
| Beaconsfield | |
| England | |
| HP9 1NB | |
| United Kingdom |
| COMPANY NUMBER | 12449335 (England and Wales) |
| ACCOUNTANT | S&W Partners (Thames Valley) Limited |
| 22 Wycombe End | |
| Beaconsfield | |
| Buckinghamshire | |
| HP9 1NB |
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Current assets | ||||
| Stocks | 3 |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| 162,437 | 1 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 47,471 | 1 | ||
| Total assets less current liabilities | 47,471 | 1 | ||
| Accruals and deferred income | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Werrens Prestige Limited (registered number:
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S Werren
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Werrens Prestige Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Wycombe End, Beaconsfield, England, HP9 1NB, Beaconsfield, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
Name change:
The company has changed its name to Werrens Prestige Limited from Specialist Parts Ltd with effect from 13th November 2024.
The functional currency of the Company is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
Revenue arising from the provision of services is recognised by reference to the stage of completion. When the stage of completion cannot be measured reliably revenue is recognised up to the extent of recoverable expenses and accordingly no profit is recognised.
Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 initially 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the period of trading, including the director. |
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| £ | £ | ||
| Stocks |
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| Work in progress |
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| £ | £ | ||
| Trade debtors |
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| Amounts owed by related parties |
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to related parties |
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| Taxation and social security |
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| Other creditors |
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| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
| 2025 | 2024 | ||
| £ | £ | ||
| Amount owed to the director | (32,424) | 0 |
Other related party transactions
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by companies under common control | 24,855 | 0 | |
| Amounts owed to companies under common control | (9,000) | 0 |
During the year the company paid management charges of £25,000 (2024; £nil) to a company under common control.