IRIS Accounts Production v25.1.0.734 09039584 director 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090395842023-05-31090395842024-05-31090395842023-06-012024-05-31090395842022-05-31090395842022-06-012023-05-31090395842023-05-3109039584ns15:EnglandWales2023-06-012024-05-3109039584ns14:PoundSterling2023-06-012024-05-3109039584ns10:Director12023-06-012024-05-3109039584ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3109039584ns10:SmallEntities2023-06-012024-05-3109039584ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3109039584ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3109039584ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3109039584ns10:FullAccounts2023-06-012024-05-3109039584ns10:RegisteredOffice2023-06-012024-05-3109039584ns5:CurrentFinancialInstruments2024-05-3109039584ns5:CurrentFinancialInstruments2023-05-3109039584ns5:Non-currentFinancialInstruments2024-05-3109039584ns5:Non-currentFinancialInstruments2023-05-3109039584ns5:ShareCapital2024-05-3109039584ns5:ShareCapital2023-05-3109039584ns5:RetainedEarningsAccumulatedLosses2024-05-3109039584ns5:RetainedEarningsAccumulatedLosses2023-05-3109039584ns5:PlantMachinery2023-06-012024-05-3109039584ns5:PlantMachinery2023-05-3109039584ns5:PlantMachinery2024-05-3109039584ns5:PlantMachinery2023-05-3109039584ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3109039584ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3109039584ns5:WithinOneYear2024-05-3109039584ns5:WithinOneYear2023-05-3109039584ns5:BetweenOneFiveYears2024-05-3109039584ns5:BetweenOneFiveYears2023-05-3109039584ns5:AllPeriods2024-05-3109039584ns5:AllPeriods2023-05-3109039584ns5:Secured2024-05-3109039584ns5:Secured2023-05-31
REGISTERED NUMBER: 09039584 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Wasted Heroes Ltd

Wasted Heroes Ltd (Registered number: 09039584)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wasted Heroes Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: R J Reid





REGISTERED OFFICE: 80 Kempston Street
Liverpool
Merseyside
L3 8HL





REGISTERED NUMBER: 09039584 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Wasted Heroes Ltd (Registered number: 09039584)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,356 595

CURRENT ASSETS
Stocks 55,413 53,502
Debtors 5 65,544 69,259
Cash at bank 1,451 219
122,408 122,980
CREDITORS
Amounts falling due within one year 6 86,076 72,367
NET CURRENT ASSETS 36,332 50,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,688

51,208

CREDITORS
Amounts falling due after more than one
year

7

(36,756

)

(51,083

)

PROVISIONS FOR LIABILITIES (339 ) -
NET ASSETS 593 125

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 493 25
SHAREHOLDERS' FUNDS 593 125

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Wasted Heroes Ltd (Registered number: 09039584)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2025 and were signed by:





R J Reid - Director


Wasted Heroes Ltd (Registered number: 09039584)

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

1. STATUTORY INFORMATION

Wasted Heroes Ltd 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.

The company is not expected to have any going concern issues due to continued support from the director.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover represents the sale of clothing excluding discounts, value added tax and other sales taxes. Turnover is recognised at the point of the despatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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

Financial instruments
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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.


Wasted Heroes Ltd (Registered number: 09039584)

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 6,455
Additions 1,304
At 31 May 2024 7,759
DEPRECIATION
At 1 June 2023 5,860
Charge for year 543
At 31 May 2024 6,403
NET BOOK VALUE
At 31 May 2024 1,356
At 31 May 2023 595

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 65,544 69,259

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 57,626 47,268
Taxation and social security 16,020 9,854
Other creditors 12,430 15,245
86,076 72,367

Wasted Heroes Ltd (Registered number: 09039584)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 36,756 41,495
Other creditors - 9,588
36,756 51,083

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,052 9,791

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.24 31.5.23
£    £   
Within one year 10,430 10,430
Between one and five years 5,892 16,322
16,322 26,752

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank overdrafts 17,827 5,714

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

R J Reid, the director, operates a current account with the company to which transactions of a private nature are charged. Included in other debtors as at 31st May 2024 is £51,664 (2023 £57,309) owing from R J Reid. The loan is repayable on demand and includes interest at 2.25%.