Wayne Short Flooring Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05557889 (England and Wales)

WAYNE SHORT FLOORING LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2024

Page

Company Information

1

Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

Director:

W N Short

Registered office:

3rd Floor

86 - 90 Paul Street

London

EC2A 4NE

Registered number:

05557889 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

CUBO Birmingham

4th Floor

Two Chamberlain Square

Birmingham

West Midlands

B3 3AX

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wayne Short Flooring Limited for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Wayne Short Flooring Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wayne Short Flooring Limited and state those matters that we have agreed to state to the director of Wayne Short Flooring Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Wayne Short Flooring Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wayne Short Flooring Limited. You consider that Wayne Short Flooring Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wayne Short Flooring Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cooper Parry Advisory Limited

CUBO Birmingham

4th Floor

Two Chamberlain Square

Birmingham

West Midlands

B3 3AX

Date: .............................................

Fixed assets

Intangible assets

4

-

Tangible assets

5

10,147

9,152

10,147

9,152

Current assets

Stocks

6

9,677

12,139

Debtors

7

41,836

50,459

Cash at bank

11,791

12,533

63,304

75,131

Creditors

Amounts falling due within one year

8

156,457

170,262

Net current liabilities

(93,153

)

(95,131

)

Total assets less current liabilities

(83,006

)

(85,979

)

Capital and reserves

Called up share capital

1

Retained earnings

(83,007

)

(85,980

)

(83,006

)

(85,979

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 20 June 2025 and were signed by:

W N Short - Director

1.	Statutory information

Wayne Short Flooring Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tools and equipment

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks and service contracts

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

Service contracts are accounted for under the stage of completion method and included at the contract value.

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.

Going concern

The company is considered a going concern, as it has the support of its directors.

3.	Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 October 2023

and 30 September 2024

34,000

Amortisation

At 1 October 2023

and 30 September 2024

34,000

Net book value

At 30 September 2024

-

At 30 September 2023

-

5.	Tangible fixed assets

Fixtures

Tools and

and

Motor

Computer

equipment

fittings

vehicles

equipment

Totals

£

Cost

At 1 October 2023

2,075

135

18,489

1,325

22,024

Additions

-

3,800

490

4,290

At 30 September 2024

2,075

135

22,289

1,815

26,314

Depreciation

At 1 October 2023

1,894

127

10,149

702

12,872

Charge for year

36

1

3,035

223

3,295

At 30 September 2024

1,930

128

13,184

925

16,167

Net book value

At 30 September 2024

145

7

9,105

890

10,147

At 30 September 2023

181

8

8,340

623

9,152

6.

Stocks

2024

2023

£

Stocks

9,677

12,139

7.

Debtors: amounts falling due within one year

2024

2023

£

Trade debtors

33,751

42,642

VAT

6,581

6,519

Prepayments

1,504

1,298

41,836

50,459

8.

Creditors: amounts falling due within one year

2024

2023

£

Other loans

34,900

Trade creditors

36,235

51,473

Social security and other taxes

955

1,294

Other creditors

428

480

Credit card control

-

5,094

Directors' current accounts

82,739

75,821

Accrued expenses

1,200

156,457

170,262