Registered number
11878979
Washington Fireplaces Direct (North East) Ltd
Filleted Accounts
31 March 2025
Washington Fireplaces Direct (North East) Ltd
Registered number: 11878979
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 882,696 793,748
Current assets
Stocks 40,635 48,300
Debtors 4 169,463 157,205
Cash at bank and in hand 538,156 390,010
748,254 595,515
Creditors: amounts falling due within one year 5 (374,321) (301,585)
Net current assets 373,933 293,930
Total assets less current liabilities 1,256,629 1,087,678
Provisions for liabilities (13,859) (16,361)
Net assets 1,242,770 1,071,317
Capital and reserves
Called up share capital 30 30
Profit and loss account 1,242,740 1,071,287
Shareholders' funds 1,242,770 1,071,317
The directors are 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 directors acknowledge their 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.
D Ball
Director
Approved by the board on 16 July 2025
Washington Fireplaces Direct (North East) Ltd
Notes to the Accounts
for the year ended 31 March 2025
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 20% reducing balance
Fixtures, fittings & equipment 20% reducing balance
Motor vehicle 25% reducing balance
Investment property
The fair value of the invesment property has been valued by reference to recent maket prices
of similar properties in the area.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 728,304 59,255 65,590 853,149
Additions 98,956 5,765 - 104,721
At 31 March 2025 827,260 65,020 65,590 957,870
Depreciation
At 1 April 2024 - 24,384 35,017 59,401
Charge for the year - 8,130 7,643 15,773
At 31 March 2025 - 32,514 42,660 75,174
Net book value
At 31 March 2025 827,260 32,506 22,930 882,696
At 31 March 2024 728,304 34,871 30,573 793,748
4 Debtors 2025 2024
£ £
Trade debtors 161,250 147,269
Other debtors 8,213 9,936
169,463 157,205
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 617 3,877
Trade creditors 65,708 39,420
Taxation and social security costs 222,039 213,924
Other creditors 85,957 44,364
374,321 301,585
6 Other information
Washington Fireplaces Direct (North East) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
16-17 Elswick Road
Armstrong
Washington
Tyne and Wear
NE37 1LH
Washington Fireplaces Direct (North East) Ltd 11878979 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts July 2024 D Ball No description of principal activity 11878979 2023-04-01 2024-03-31 11878979 core:WithinOneYear 2024-03-31 11878979 core:ShareCapital 2024-03-31 11878979 core:RetainedEarningsAccumulatedLosses 2024-03-31 11878979 2024-04-01 2025-03-31 11878979 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 11878979 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 11878979 bus:Director40 2024-04-01 2025-03-31 11878979 1 2024-04-01 2025-03-31 11878979 2 2024-04-01 2025-03-31 11878979 core:LandBuildings 2024-04-01 2025-03-31 11878979 core:PlantMachinery 2024-04-01 2025-03-31 11878979 core:Vehicles 2024-04-01 2025-03-31 11878979 countries:England 2024-04-01 2025-03-31 11878979 bus:FRS102 2024-04-01 2025-03-31 11878979 bus:FilletedAccounts 2024-04-01 2025-03-31 11878979 2025-03-31 11878979 core:WithinOneYear 2025-03-31 11878979 core:ShareCapital 2025-03-31 11878979 core:RetainedEarningsAccumulatedLosses 2025-03-31 11878979 core:LandBuildings 2025-03-31 11878979 core:PlantMachinery 2025-03-31 11878979 core:Vehicles 2025-03-31 11878979 2024-03-31 11878979 core:LandBuildings 2024-03-31 11878979 core:PlantMachinery 2024-03-31 11878979 core:Vehicles 2024-03-31 iso4217:GBP xbrli:pure