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Registered number: 04149382
WEG Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
BWBCA Limited
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 04149382
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 360,735 544,307
360,735 544,307
CURRENT ASSETS
Stocks 5 3,495,409 2,948,222
Debtors 6 1,076,516 1,446,988
Cash at bank and in hand 1,861,914 157,175
6,433,839 4,552,385
Creditors: Amounts Falling Due Within One Year 7 (1,219,119 ) (544,927 )
NET CURRENT ASSETS (LIABILITIES) 5,214,720 4,007,458
TOTAL ASSETS LESS CURRENT LIABILITIES 5,575,455 4,551,765
PROVISIONS FOR LIABILITIES
Deferred Taxation - (40,243 )
NET ASSETS 5,575,455 4,511,522
CAPITAL AND RESERVES
Called up share capital 8 376 376
Share premium account 27,980 27,980
Capital redemption reserve 24 24
Income Statement 5,547,075 4,483,142
SHAREHOLDERS' FUNDS 5,575,455 4,511,522
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
D M Dunne
Director
B C Dunne
Director
29 September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
WEG Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04149382 . The registered office is 133-141 Guildford Road, West End, Woking, Surrey, GU24 9LS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on cost
Plant & Machinery 10% & 25% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 10% & 25% on cost
Computer Equipment 20% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees during the year was: 45 (2023: 44)
45 44
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 January 2024 157,377 741,249 898,626
Additions - 708 708
As at 31 December 2024 157,377 741,957 899,334
Depreciation
As at 1 January 2024 35,338 318,981 354,319
Provided during the period 27,455 156,825 184,280
As at 31 December 2024 62,793 475,806 538,599
Net Book Value
As at 31 December 2024 94,584 266,151 360,735
As at 1 January 2024 122,039 422,268 544,307
5. Stocks
2024 2023
£ £
Stock 3,449,486 2,904,604
Parts & accessories 45,923 43,618
3,495,409 2,948,222
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 209,123 253,605
Other debtors 867,393 1,193,383
1,076,516 1,446,988
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 683,263 447,284
Other creditors 359,591 91,600
Taxation and social security 176,265 6,043
1,219,119 544,927
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
298 Ordinary A shares of £ 1.00 each 298 298
58 Ordinary B shares of £ 1.00 each 58 58
20 Ordinary D shares of £ 1.00 each 20 20
376 376
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 300,000 300,000
300,000 300,000
10. Directors Advances, Credits and Guarantees
As at 31 December 2024 there were directors loans outstanding of £65,582 (2023 - £41,591).
11. Related Party Transactions
As at 31 December 2024 the company was owed £617,965 (2023 - £729,965) from West End Garage Partnership. B C Dunne and D M Dunne are partners of West End Garage Partnership.
12. Ultimate Controlling Party
The company is under the joint control of D M Dunne and B C Dunne.
Page 5