Registered number
04581048
Wechseln Limited
Filleted Accounts
31 December 2024
Wechseln Limited
Registered number: 04581048
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 39,750 53,000
Tangible assets 4 35,797 38,388
75,547 91,388
Current assets
Stocks 37,107 31,623
Debtors 5 481,241 400,238
Cash at bank and in hand 76,967 110,427
595,315 542,288
Creditors: amounts falling due within one year 6 (255,764) (227,880)
Net current assets 339,551 314,408
Total assets less current liabilities 415,098 405,796
Creditors: amounts falling due after more than one year 7 (5,653) (15,776)
Provisions for liabilities (6,802) (7,294)
Net assets 402,643 382,726
Capital and reserves
Called up share capital 200 200
Profit and loss account 402,443 382,526
Shareholders' funds 402,643 382,726
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 A P Hill
Director
Approved 24 September 2025
Wechseln Limited
Notes to the Accounts
for the year ended 31 December 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).
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.
Goodwill 5% Straight line
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:
Leasehold property 10% Straight line
Fixtures and equipment 20% reducing balance
Computer equipment 25% Straight line
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 32 34
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 530,000
At 31 December 2024 530,000
Amortisation
At 1 January 2024 477,000
Provided during the year 13,250
At 31 December 2024 490,250
Net book value
At 31 December 2024 39,750
At 31 December 2023 53,000
4 Tangible fixed assets
Leasehold property Fixtures and equipment Total
£ £ £
Cost
At 1 January 2024 18,106 311,956 330,062
Additions - 6,566 6,566
At 31 December 2024 18,106 318,522 336,628
Depreciation
At 1 January 2024 18,106 273,568 291,674
Charge for the year - 9,157 9,157
At 31 December 2024 18,106 282,725 300,831
Net book value
At 31 December 2024 - 35,797 35,797
At 31 December 2023 - 38,388 38,388
5 Debtors 2024 2023
£ £
Section 455 recoverable 113,445 94,242
Other debtors 367,796 305,996
481,241 400,238
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 35,086 33,762
Taxation and social security costs 150,929 156,929
Other creditors 59,749 27,189
255,764 227,880
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,653 15,776
8 Loans to directors
Description and conditions B/fwd Advanced Repaid C/fwd
£ £ £ £
Mr A P Hill
Directors loan account 275,598 157,693 (90,799) 342,492
9 Other information
Wechseln Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
Wechseln Limited 04581048 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 Mr A P Hill No description of principal activity 04581048 2023-01-01 2023-12-31 04581048 core:WithinOneYear 2023-12-31 04581048 core:AfterOneYear 2023-12-31 04581048 core:ShareCapital 2023-12-31 04581048 core:RetainedEarningsAccumulatedLosses 2023-12-31 04581048 2024-01-01 2024-12-31 04581048 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04581048 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04581048 bus:Director40 2024-01-01 2024-12-31 04581048 1 2024-01-01 2024-12-31 04581048 2 2024-01-01 2024-12-31 04581048 core:Goodwill 2024-01-01 2024-12-31 04581048 core:LandBuildings 2024-01-01 2024-12-31 04581048 core:PlantMachinery 2024-01-01 2024-12-31 04581048 bus:Director1 2024-01-01 2024-12-31 04581048 bus:Director1 1 2024-01-01 2024-12-31 04581048 countries:England 2024-01-01 2024-12-31 04581048 bus:FRS102 2024-01-01 2024-12-31 04581048 bus:FilletedAccounts 2024-01-01 2024-12-31 04581048 2024-12-31 04581048 core:WithinOneYear 2024-12-31 04581048 core:AfterOneYear 2024-12-31 04581048 core:ShareCapital 2024-12-31 04581048 core:RetainedEarningsAccumulatedLosses 2024-12-31 04581048 core:Goodwill 2024-12-31 04581048 core:LandBuildings 2024-12-31 04581048 core:PlantMachinery 2024-12-31 04581048 bus:Director1 1 2024-12-31 04581048 2023-12-31 04581048 core:Goodwill 2023-12-31 04581048 core:LandBuildings 2023-12-31 04581048 core:PlantMachinery 2023-12-31 04581048 bus:Director1 1 2023-12-31 iso4217:GBP xbrli:pure