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Registered number: 14576331










WOOLLEY ENGINEERING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
WOOLLEY ENGINEERING LIMITED
REGISTERED NUMBER: 14576331

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,313
8,815

  
9,313
8,815

Current assets
  

Stocks
  
745
1,750

Debtors: amounts falling due within one year
 5 
10,017
4,899

Cash at bank and in hand
  
1,260
2,400

  
12,022
9,049

Creditors: amounts falling due within one year
 6 
(12,620)
(5,439)

Net current (liabilities)/assets
  
 
 
(598)
 
 
3,610

Total assets less current liabilities
  
8,715
12,425

Creditors: amounts falling due after more than one year
 7 
(8,334)
(12,332)

  

Net assets
  
381
93


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
379
91

  
381
93


Page 1

 
WOOLLEY ENGINEERING LIMITED
REGISTERED NUMBER: 14576331
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 July 2025.




J Woolley
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WOOLLEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
WOOLLEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.Accounting policies (continued)

 
1.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
1.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
WOOLLEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.Accounting policies (continued)

 
1.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

Woolley Engineering Limited is a private company, limited by shares and incorporated in England.
Its registered number is: 14576331
Its registered office is: 
Invision House
Wilbury Way
Hitchin
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

Page 5

 
WOOLLEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 February 2024
8,166
3,364
11,530


Additions
3,602
-
3,602



At 31 January 2025

11,768
3,364
15,132



Depreciation


At 1 February 2024
2,041
673
2,714


Charge for the year on owned assets
2,432
673
3,105



At 31 January 2025

4,473
1,346
5,819



Net book value



At 31 January 2025
7,295
2,018
9,313


5.


Debtors

2025
2024
£
£


Trade debtors
-
2,730

Other debtors
10,017
2,169

10,017
4,899



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
4,000
3,999

Payments received on account
6,999
-

Corporation tax
391
-

Accruals and deferred income
1,230
1,440

12,620
5,439


Page 6

 
WOOLLEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

7.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
8,334
12,332

8,334
12,332



8.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
4,000
4,000


4,000
4,000

Amounts falling due 1-2 years

Bank loans
4,000
4,000


4,000
4,000

Amounts falling due 2-5 years

Bank loans
4,333
8,333


4,333
8,333


12,333
16,333


Page 7

 
WOOLLEY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

9.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



2 (2024 - 2) Ordinary shares of £1.00 each
2
2


 
Page 8