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REGISTERED NUMBER: 08755014 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 OCTOBER 2024

FOR

WINCH & BOAG DEVELOPMENTS LIMITED

WINCH & BOAG DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08755014)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WINCH & BOAG DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 OCTOBER 2024







DIRECTORS: S J Boag
G A Winch





REGISTERED OFFICE: Second Floor Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1ER





REGISTERED NUMBER: 08755014 (England and Wales)





ACCOUNTANTS: Horsham Subimssions

WINCH & BOAG DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08755014)

BALANCE SHEET
30 OCTOBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 4,344 5,793

CURRENT ASSETS
Stocks 1,144,624 1,066,448
Debtors 4 6,368 58,607
Cash at bank 2,740 30,035
1,153,732 1,155,090
CREDITORS
Amounts falling due within one year 5 (997,104 ) (937,468 )
NET CURRENT ASSETS 156,628 217,622
TOTAL ASSETS LESS CURRENT LIABILITIES 160,972 223,415

CREDITORS
Amounts falling due after more than one year 6 (9,164 ) (19,164 )

PROVISIONS FOR LIABILITIES (1,086 ) (1,448 )
NET ASSETS 150,722 202,803

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 150,612 202,693
150,722 202,803

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 24 July 2025 and were signed on its behalf by:




S J Boag - Director



G A Winch - Director


WINCH & BOAG DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08755014)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2024


1. 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.

Significant judgements and estimates
Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issued such as future market conditions, the remaining life of the asset and projected disposal values.

Impairment of tangible fixed assets
Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

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

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

WINCH & BOAG DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08755014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 OCTOBER 2024


1. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 31 October 2023
and 30 October 2024 337 31,483 1,062 32,882
DEPRECIATION
At 31 October 2023 147 26,216 726 27,089
Charge for year 48 1,317 84 1,449
At 30 October 2024 195 27,533 810 28,538
NET BOOK VALUE
At 30 October 2024 142 3,950 252 4,344
At 30 October 2023 190 5,267 336 5,793

WINCH & BOAG DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08755014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 OCTOBER 2024


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 335 -
Other debtors 1,045 -
VAT - 54,208
Prepayments and accrued income 4,988 4,399
6,368 58,607

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 50,000 50,000
Trade creditors 89,801 90,672
CT61 2,369 1,158
Social security and other taxes - 222
VAT 570 -
Directors' current accounts 839,284 779,991
Accruals and deferred income 5,080 5,425
997,104 937,468

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 9,164 19,164

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 19,164 29,164

Included above is a government backed bounce back loan.