Registered number
02496468
WAYNE WINDOWS LIMITED
Unaudited Filleted Accounts
30 April 2024
WAYNE WINDOWS LIMITED
Registered number: 02496468
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,967 18,000
Current assets
Stocks 58,500 61,000
Debtors 4 116,905 200,558
Cash at bank and in hand 22,531 92,034
197,936 353,592
Creditors: amounts falling due within one year 5 (127,764) (291,755)
Net current assets 70,172 61,837
Total assets less current liabilities 84,139 79,837
Creditors: amounts falling due after more than one year 6 (19,167) (29,166)
Provisions for liabilities (2,800) -
Net assets 62,172 50,671
Capital and reserves
Called up share capital 100 100
Share premium 25 25
Profit and loss account 62,047 50,546
Shareholders' funds 62,172 50,671
The director is 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 director acknowledges his 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.
S J Wayne
Director
Approved by the board on 10 June 2025
WAYNE WINDOWS LIMITED
Notes to the Accounts
for the year ended 30 April 2024
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:
Leasehold land and buildings 20% straight line
Plant and machinery 15-33% reducing balance
Motor vehicles 25% reducing balance
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 6,331 62,303 58,360 126,994
Additions - 3,271 - 3,271
Disposals - - (12,600) (12,600)
At 30 April 2024 6,331 65,574 45,760 117,665
Depreciation
At 1 May 2023 6,329 50,576 52,089 108,994
Charge for the year - 4,790 1,253 6,043
On disposals - - (11,339) (11,339)
At 30 April 2024 6,329 55,366 42,003 103,698
Net book value
At 30 April 2024 2 10,208 3,757 13,967
At 30 April 2023 2 11,727 6,271 18,000
4 Debtors 2024 2023
£ £
Trade debtors 59,020 146,898
Other debtors 57,885 53,660
116,905 200,558
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 11,304 18,544
Taxation and social security costs 20,634 41,749
Other creditors 85,826 221,462
127,764 291,755
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,167 29,166
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S J Wayne
Loan with no repayment terms, interest is paid on the loan 32,201 - 32,201
- 32,201 - 32,201
8 Other information
WAYNE WINDOWS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Charlwood Street
Aldwick
Bognor Regis
West Sussex
PO21 2PQ
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