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WARDS SHOE SHOPS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025






WARDS SHOE SHOPS LIMITED (REGISTERED NUMBER: 03378820)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARDS SHOE SHOPS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: J Mansfield
Mrs A Mansfield
S Ward
Mrs J Ward





REGISTERED OFFICE: The Hayloft Watfield Farm
Longway Bank
Whatstandwell
Matlock
Derbyshire
DE4 5HU





REGISTERED NUMBER: 03378820 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

WARDS SHOE SHOPS LIMITED (REGISTERED NUMBER: 03378820)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Website 4 2,200 3,000
Tangible assets 5 66,411 78,032
68,611 81,032

CURRENT ASSETS
Stocks 448,920 314,729
Debtors 6 19,006 12,569
Cash at bank and in hand 39,433 20,773
507,359 348,071
CREDITORS
Amounts falling due within one year 7 372,314 211,121
NET CURRENT ASSETS 135,045 136,950
TOTAL ASSETS LESS CURRENT LIABILITIES 203,656 217,982

CREDITORS
Amounts falling due after more than one
year

8

(5,000

)

(25,000

)

PROVISIONS FOR LIABILITIES 11 (7,100 ) (5,800 )
NET ASSETS 191,556 187,182

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 190,556 186,182
SHAREHOLDERS' FUNDS 191,556 187,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WARDS SHOE SHOPS LIMITED (REGISTERED NUMBER: 03378820)

BALANCE SHEET - continued
28 FEBRUARY 2025


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





J Mansfield - Director


WARDS SHOE SHOPS LIMITED (REGISTERED NUMBER: 03378820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


1. STATUTORY INFORMATION

Wards Shoe Shops Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of goods to the buyer.

Intangible assets
Website costs are being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


WARDS SHOE SHOPS LIMITED (REGISTERED NUMBER: 03378820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


2. ACCOUNTING POLICIES - continued
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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 March 2024
and 28 February 2025 4,000
AMORTISATION
At 1 March 2024 1,000
Amortisation for year 800
At 28 February 2025 1,800
NET BOOK VALUE
At 28 February 2025 2,200
At 29 February 2024 3,000

WARDS SHOE SHOPS LIMITED (REGISTERED NUMBER: 03378820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2024 31,719 231,535 43,899 33,223 340,376
Additions - 11,328 - 1,630 12,958
At 28 February 2025 31,719 242,863 43,899 34,853 353,334
DEPRECIATION
At 1 March 2024 24,667 203,039 2,744 31,894 262,344
Charge for year 3,965 9,602 10,289 723 24,579
At 28 February 2025 28,632 212,641 13,033 32,617 286,923
NET BOOK VALUE
At 28 February 2025 3,087 30,222 30,866 2,236 66,411
At 29 February 2024 7,052 28,496 41,155 1,329 78,032

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 19,006 12,569

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 112,926 76,233
Amounts owed to participating interests 188,988 72,988
Taxation and social security 22,390 13,403
Other creditors 28,010 28,497
372,314 211,121

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 5,000 25,000

WARDS SHOE SHOPS LIMITED (REGISTERED NUMBER: 03378820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 66,500 50,125
Between one and five years 120,500 89,083
187,000 139,208

10. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 25,000 45,000

The bank loan is secured under a fixed and floating charge over the assets of the company.

11. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 7,100 5,800

Deferred
tax
£   
Balance at 1 March 2024 5,800
Provided during year 1,300
Balance at 28 February 2025 7,100

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
1,000 Ordinary £1 1,000 1,000