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Logo On Report
Registered Number: 07216148
England and Wales

 

 

 

WX PARTNERS LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
You consider that the company is exempt from an audit for the year ended 31 August 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Kendall Accountancy Services Limited
31 August 2024



....................................................

Kendall Accountancy Services Limited

2 Exeter Street

Cottingham
HU16 4LU
27 May 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 10,210    10,210 
Tangible fixed assets 4 222,800    240,092 
233,010    250,302 
Current assets      
Stocks 80,000    88,000 
Debtors 40,098    23,190 
Cash at bank and in hand 72,593    80,067 
192,691    191,257 
Creditors: amount falling due within one year (410,693)   (368,951)
Net current assets (218,002)   (177,694)
 
Total assets less current liabilities 15,008    72,608 
Creditors: amount falling due after more than one year (9,325)   (19,325)
Net assets 5,683    53,283 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 5,583    53,183 
Shareholders' funds 5,683    53,283 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 May 2025 and were signed on its behalf by:


-------------------------------
Alison Kennie
Director
2
General Information
WX Partners Limited is a private company, limited by shares, registered in England and Wales, registration number 07216148, registration address WARLEY COUNTRY STORES WARLEY CROSS, BRANDESBURTON, DRIFFIELD, NORTH HUMBERSIDE, YO25 8EW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Straight Line
Plant and Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 10% Reducing Balance
Computer Equipment 10% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 September 2023 55,000    55,000 
Additions  
Disposals  
At 31 August 2024 55,000    55,000 
Amortisation
At 01 September 2023 44,790    44,790 
Charge for year  
On disposals  
At 31 August 2024 44,790    44,790 
Net book values
At 31 August 2024 10,210    10,210 
At 31 August 2023 10,210    10,210 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 September 2023 141,000    18,247    52,750    131,533    4,413    347,943 
Additions     9,000        9,000 
Disposals          
At 31 August 2024 141,000    18,247    61,750    131,533    4,413    356,943 
Depreciation
At 01 September 2023   11,380    18,970    73,708    3,793    107,851 
Charge for year   1,824    10,695    13,153    620    26,292 
On disposals          
At 31 August 2024   13,204    29,665    86,861    4,413    134,143 
Net book values
Closing balance as at 31 August 2024 141,000    5,043    32,085    44,672      222,800 
Opening balance as at 01 September 2023 141,000    6,867    33,780    57,825    620    240,092 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Warleys Country Store Limited(143,250)(83,668)
Warleys Driffield Limited47,690 (9,698)
Warleys Outdoor Living Limited(2,629)(4,000)
Warleysweb Ltd(35,024)




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