Registered number
01438037
West Country Wetsuits Ltd
Unaudited Filleted Accounts
30 November 2024
West Country Wetsuits Ltd
Registered number: 01438037
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Investments 4 287,703 287,703
Current assets
Debtors 5 319,321 320,001
Creditors: amounts falling due within one year 6 - (215)
Net current assets 319,321 319,786
Net assets 607,024 607,490
Capital and reserves
Called up share capital 119 119
Share premium 57,181 57,181
Revaluation reserve 7 87,267 87,267
Other reserves 76,950 76,950
Profit and loss account 385,507 385,972
Shareholders' funds 607,024 607,490
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.
Mr D Millin
Director
Approved by the board on 28 August 2025
West Country Wetsuits Ltd
Notes to the Accounts
for the year ended 30 November 2024
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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
The company has no turnover. It's income is solely from investments.
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 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 38,302
At 30 November 2024 38,302
Depreciation
At 1 December 2023 38,302
At 30 November 2024 38,302
Net book value
At 30 November 2024 -
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 December 2023 287,703
At 30 November 2024 287,703
5 Debtors 2024 2023
£ £
Other debtors 319,321 320,001
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors - 215
7 Revaluation reserve 2024 2023
£ £
At 1 December 2023 87,267 87,267
At 30 November 2024 87,267 87,267
8 Other information
West Country Wetsuits Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Philip House
Aspen Way
Paignton
Devon
TQ4 7QR
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