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Albert Waeschle Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 August 2024

Registration number: 01675355

 

Albert Waeschle Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Albert Waeschle Limited

Balance Sheet

31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

957

2,823

Tangible assets

5

501,477

530,175

Investment property

6

125,000

125,000

 

627,434

657,998

Current assets

 

Stocks

7

205,095

244,671

Debtors

8

683,972

595,829

Cash at bank and in hand

 

1,078,887

712,981

 

1,967,954

1,553,481

Creditors: Amounts falling due within one year

9

(359,363)

(153,847)

Net current assets

 

1,608,591

1,399,634

Total assets less current liabilities

 

2,236,025

2,057,632

Provisions for liabilities

(11,288)

(14,492)

Net assets

 

2,224,737

2,043,140

Capital and reserves

 

Called up share capital

1,100

1,100

Profit and loss account

2,223,637

2,042,040

Shareholders' funds

 

2,224,737

2,043,140

 

Albert Waeschle Limited

Balance Sheet

31 August 2024

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 

.........................................
M A Waeschle
Director

Company Registration Number: 01675355

 

Albert Waeschle Limited

Notes to the Financial Statements

Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Balena Close
Creekmore
Poole
Dorset
BH17 7DB

These financial statements were authorised for issue by the Board on 21 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Albert Waeschle Limited

Notes to the Financial Statements

Year Ended 31 August 2024

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% straight line

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33.3% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. They used market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website costs

3 years straight line

Stocks

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

 

Albert Waeschle Limited

Notes to the Financial Statements

Year Ended 31 August 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Intangible assets

Website costs
£

Total
£

Cost or valuation

At 1 September 2023

13,600

13,600

At 31 August 2024

13,600

13,600

Amortisation

At 1 September 2023

10,777

10,777

Amortisation charge

1,866

1,866

At 31 August 2024

12,643

12,643

Carrying amount

At 31 August 2024

957

957

At 31 August 2023

2,823

2,823

 

Albert Waeschle Limited

Notes to the Financial Statements

Year Ended 31 August 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

805,325

108,493

33,869

947,687

At 31 August 2024

805,325

108,493

33,869

947,687

Depreciation

At 1 September 2023

339,412

73,755

4,345

417,512

Charge for the year

16,106

5,211

7,381

28,698

At 31 August 2024

355,518

78,966

11,726

446,210

Carrying amount

At 31 August 2024

449,807

29,527

22,143

501,477

At 31 August 2023

465,913

34,738

29,524

530,175

6

Investment properties

2024
£

At 1 September 2023 and 31 August 2024

125,000

The directors valued the investment property at 31 August 2024.

7

Stocks

2024
£

2023
£

Other inventories

205,095

244,671

8

Debtors

2024
£

2023
£

Trade debtors

626,331

509,377

Prepayments

52,641

81,856

Other debtors

5,000

4,596

683,972

595,829

 

Albert Waeschle Limited

Notes to the Financial Statements

Year Ended 31 August 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

228,623

61,764

Taxation and social security

120,953

81,138

Accruals and deferred income

4,894

6,034

Other creditors

4,893

4,911

359,363

153,847

10

Reserves

Included in the profit and loss account is £3,232 (2023 - £3,232) of non distributable reserves.

11

Related party transactions



Other related party transactions

Albert Waeschle Partnership
(The directors/shareholders of the company are the partners of Albert Waeschle Partnership)

During the year the partnership charged the limited company £27,756 (2023 £27,756) for administration services.

At the balance sheet date the amount due from Albert Waeschle Partnership was £245,074 (2023 - £377,336).

G.E.Bridge & Company Limited
(The directors/ shareholders of the company are the partners of G.E.Bridge & Company Limited)

At the balance sheet date the amount due from G.E.Bridge & Company Limited was £343 (2023 - £2,026).

 

 

Albert Waeschle Limited

Notes to the Financial Statements

Year Ended 31 August 2024

12

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

165

2,471

Later than one year and not later than five years

-

165

165

2,636

The amount of non-cancellable operating lease payments recognised as an expense during the year was £2,091 (2023 - £4,402).