Registered number
07997207
W Ward Limited
Filleted Accounts
28 February 2025
W Ward Limited
Registered number: 07997207
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 828,219 874,351
Current assets
Debtors 4 8,182 29,474
Cash at bank and in hand 183,900 100,764
192,082 130,238
Creditors: amounts falling due within one year 5 (3,391) (2,223)
Net current assets 188,691 128,015
Total assets less current liabilities 1,016,910 1,002,366
Creditors: amounts falling due after more than one year 6 (123) (523)
Provisions for liabilities (179,161) (125,855)
Net assets 837,626 875,988
Capital and reserves
Called up share capital 10 10
Profit and loss account 837,616 875,978
Shareholders' funds 837,626 875,988
Average number of Employees 2 2
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr W Ward
Director
Approved by the board on 15 May 2025
W Ward Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Boats over 50 years
Plant and machinery 20% reducing balance basis
Fixtures, fittings, tools and equipment 20% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Long term assets: Boats Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2024 662,625 612,620 55,038 1,330,283
Additions - - 36,478 36,478
Disposals - - (55,038) (55,038)
At 28 February 2025 662,625 612,620 36,478 1,311,723
Depreciation
At 1 March 2024 30,371 387,577 37,984 455,932
Charge for the year 13,253 45,008 7,295 65,556
On disposals - - (37,984) (37,984)
At 28 February 2025 43,624 432,585 7,295 483,504
Net book value
At 28 February 2025 619,001 180,035 29,183 828,219
At 29 February 2024 632,254 225,043 17,054 874,351
4 Debtors 2025 2024
£ £
Other debtors 8,182 29,474
5 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 365 -
Other creditors 3,026 2,223
3,391 2,223
6 Creditors: amounts falling due after one year 2025 2024
£ £
Other creditors 123 523
7 Controlling party
The ultimate controlling party is Mr W Ward by virtue of his 100% shareholding.
8 Other information
W Ward Limited is a private company limited by shares and incorporated in England. Its registered office is:
37 Park Road,
Holkham,
Wells-Next-The-Sea,
NR23 1RG
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