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Registered number: 04543113
W & M Construction Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04543113
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,953 29,272
21,953 29,272
CURRENT ASSETS
Stocks 5 6,170 5,450
Debtors 6 815,746 780,923
Cash at bank and in hand 109,960 186,102
931,876 972,475
Creditors: Amounts Falling Due Within One Year 7 (392,645 ) (361,710 )
NET CURRENT ASSETS (LIABILITIES) 539,231 610,765
TOTAL ASSETS LESS CURRENT LIABILITIES 561,184 640,037
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,488 ) (7,318 )
NET ASSETS 555,696 632,719
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 555,596 632,619
SHAREHOLDERS' FUNDS 555,696 632,719
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Wojciech Staron
Director
23/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
W & M Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04543113 . The registered office is Suite 28 Parsons Green House, 27 Parsons Green Lane, London, SW6 4HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2023 82,304 6,930 33,154 122,388
As at 31 October 2024 82,304 6,930 33,154 122,388
Depreciation
As at 1 November 2023 57,317 6,862 28,937 93,116
Provided during the period 6,247 17 1,055 7,319
As at 31 October 2024 63,564 6,879 29,992 100,435
Net Book Value
As at 31 October 2024 18,740 51 3,162 21,953
As at 1 November 2023 24,987 68 4,217 29,272
5. Stocks
2024 2023
£ £
Stock 6,170 5,450
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 459,619 -
Prepayments and accrued income 7,333 431,868
Corporation tax recoverable assets 86,473 86,473
Director's loan account 262,321 262,582
815,746 780,923
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 195,723 22,145
Corporation tax 58,638 137,182
Other taxes and social security 10,700 92,265
VAT 108,432 91,256
Other creditors 14,131 13,093
Accruals and deferred income 5,021 5,769
392,645 361,710
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Wojciech Staron 262,582 - - - 262,582
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
During the year the company paid dividends of £232,877 (2023: £366,674) to W & M Group Limited, the company's controlling party by virture of owning 100% of the share capital
11. Ultimate Controlling Party
The company's ultimate controlling party is W & M GROUP LIMITED by virtue of his ownership of 100% of the issued share capital in the company.
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