1 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 482,586 482,586 482,586 xbrli:pure xbrli:shares iso4217:GBP 02644098 2024-04-01 2025-03-31 02644098 2025-03-31 02644098 2024-03-31 02644098 2023-04-01 2024-03-31 02644098 2024-03-31 02644098 2023-03-31 02644098 core:FurnitureFittings 2024-04-01 2025-03-31 02644098 core:MotorVehicles 2024-04-01 2025-03-31 02644098 bus:Director1 2024-04-01 2025-03-31 02644098 core:FurnitureFittings 2024-03-31 02644098 core:MotorVehicles 2024-03-31 02644098 core:FurnitureFittings 2025-03-31 02644098 core:MotorVehicles 2025-03-31 02644098 core:WithinOneYear 2025-03-31 02644098 core:WithinOneYear 2024-03-31 02644098 core:ShareCapital 2025-03-31 02644098 core:ShareCapital 2024-03-31 02644098 core:CapitalRedemptionReserve 2025-03-31 02644098 core:CapitalRedemptionReserve 2024-03-31 02644098 core:RetainedEarningsAccumulatedLosses 2025-03-31 02644098 core:RetainedEarningsAccumulatedLosses 2024-03-31 02644098 core:CostValuation core:Non-currentFinancialInstruments 2025-03-31 02644098 core:Non-currentFinancialInstruments 2025-03-31 02644098 core:Non-currentFinancialInstruments 2024-03-31 02644098 core:FurnitureFittings 2024-03-31 02644098 core:MotorVehicles 2024-03-31 02644098 bus:SmallEntities 2024-04-01 2025-03-31 02644098 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 02644098 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02644098 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02644098 bus:FullAccounts 2024-04-01 2025-03-31 02644098 1 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: 02644098
WECANDO FLOORING SPECIALISTS (LINCOLN) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2025
WECANDO FLOORING SPECIALISTS (LINCOLN) LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
3,115
3,365
Investments
6
482,586
482,586
-----------
-----------
485,701
485,951
Current assets
Debtors
7
5,378
264
Cash at bank and in hand
58,897
55,251
---------
---------
64,275
55,515
Creditors: amounts falling due within one year
8
32,131
22,303
---------
---------
Net current assets
32,144
33,212
-----------
-----------
Total assets less current liabilities
517,845
519,163
-----------
-----------
Net assets
517,845
519,163
-----------
-----------
WECANDO FLOORING SPECIALISTS (LINCOLN) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2025
2025
2024
Note
£
£
£
Capital and reserves
Called up share capital
1,300
1,300
Capital redemption reserve
200
200
Profit and loss account
516,345
517,663
-----------
-----------
Shareholders funds
517,845
519,163
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 4 June 2025 , and are signed on behalf of the board by:
S J Bilton
Director
Company registration number: 02644098
WECANDO FLOORING SPECIALISTS (LINCOLN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
Income tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. The only exception is that deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can de deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment, fixtures and fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
No depreciation is charged on investment property.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Equipment, fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024
4,908
24,995
29,903
Additions
541
541
--------
---------
---------
At 31 March 2025
5,449
24,995
30,444
--------
---------
---------
Depreciation
At 1 April 2024
3,993
22,545
26,538
Charge for the year
178
613
791
--------
---------
---------
At 31 March 2025
4,171
23,158
27,329
--------
---------
---------
Carrying amount
At 31 March 2025
1,278
1,837
3,115
--------
---------
---------
At 31 March 2024
915
2,450
3,365
--------
---------
---------
6. Investments
Investment property
£
Cost
At 1 April 2024 and 31 March 2025
482,586
-----------
Impairment
At 1 April 2024 and 31 March 2025
-----------
Carrying amount
At 31 March 2025
482,586
-----------
At 31 March 2024
482,586
-----------
7. Debtors
2025
2024
£
£
Trade debtors
4,860
Other debtors
518
264
--------
-----
5,378
264
--------
-----
8. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
( 204)
( 204)
Social security and other taxes
651
758
Other creditors
31,684
21,749
---------
---------
32,131
22,303
---------
---------
9. Related party transactions
No transactions with the related parties were undertaken such as are required to be disclosed in accordance with FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
10. Controlling party
The ultimate controlling party of the company is S J Bilton .