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REGISTERED NUMBER: SC491274 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Wet Wall Works Ltd

Wet Wall Works Ltd (Registered number: SC491274)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Wet Wall Works Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: A Mackenzie
Mrs E F Mackenzie





REGISTERED OFFICE: 409 Hillington Road
Hillington Park
Glasgow
G52 4BL





REGISTERED NUMBER: SC491274 (Scotland)





ACCOUNTANTS: McDougall Johnstone Limited
280a St Vincent Street
Glasgow
G2 5RL

Wet Wall Works Ltd (Registered number: SC491274)

Abridged Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 269,097 276,911

CURRENT ASSETS
Stocks 26,400 27,100
Debtors 121,470 184,125
Cash at bank and in hand 412,984 237,624
560,854 448,849
CREDITORS
Amounts falling due within one year (84,071 ) (58,509 )
NET CURRENT ASSETS 476,783 390,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

745,880

667,251

CREDITORS
Amounts falling due after more than one year (7,485 ) (17,505 )

PROVISIONS FOR LIABILITIES (7,101 ) (5,870 )
NET ASSETS 731,294 643,876

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 731,194 643,776
SHAREHOLDERS' FUNDS 731,294 643,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

Wet Wall Works Ltd (Registered number: SC491274)

Abridged Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 May 2025 and were signed on its behalf by:





A Mackenzie - Director


Wet Wall Works Ltd (Registered number: SC491274)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Wet Wall Works Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% 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 Income Statement, 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.

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 3 (2023 - 2 ) .

Wet Wall Works Ltd (Registered number: SC491274)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023 336,645
Additions 2,804
At 31 August 2024 339,449
DEPRECIATION
At 1 September 2023 59,734
Charge for year 10,618
At 31 August 2024 70,352
NET BOOK VALUE
At 31 August 2024 269,097
At 31 August 2023 276,911

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, there is a balance of £119 (2023: £8,818 Dr) due from Wet Wall Works Ltd to its Directors. This loan is interest-free and repayable on demand.

6. RELATED PARTY DISCLOSURES

At the year end there is a balance of £101,662 (2023: £90,990) owed from Bathroom Elegance Limited, in which the directors have a controlling interest. This balance is included within other debtors.