W G Office Supplies Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01350592 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

W G OFFICE SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Deavin

J Moorey

REGISTERED OFFICE:

Unit 3

Crayford Industrial Estate

Swaisland Drive

Crayford

Kent

DA1 4HS

REGISTERED NUMBER:

01350592 (England and Wales)

ACCOUNTANTS:

Barrow LLP

Chartered Accountants

Jackson House

Station Road

Chingford

London

E4 7BU

FIXED ASSETS

Tangible assets

5

157,143

89,528

CURRENT ASSETS

Stocks

26,000

139,169

Debtors

6

894,826

1,021,884

Cash at bank and in hand

651

66,323

921,477

1,227,376

CREDITORS

Amounts falling due within one year

7

(688,380

)

(955,298

)

NET CURRENT ASSETS

233,097

272,078

TOTAL ASSETS LESS CURRENT LIABILITIES

390,240

361,606

CREDITORS

Amounts falling due after more than one year

8

(107,358

)

(12,750

)

PROVISIONS FOR LIABILITIES

(1,067

)

(1,000

)

NET ASSETS

281,815

347,856

CAPITAL AND RESERVES

Called up share capital

10

104,824

Retained earnings

176,991

243,032

SHAREHOLDERS' FUNDS

281,815

347,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

P Deavin - Director

1.	STATUTORY INFORMATION

W G Office Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the customer is invoiced, except in respect of goods stored on behalf of customers where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

over the term of the lease

Plant and machinery

-

20% on cost and 15% on reducing balance

Fixtures and fittings

-

20% on cost and 10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 19 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

COST

At 1 January 2024

40,190

7,700

211,162

Additions

-

Disposals

-

At 31 December 2024

40,190

7,700

211,162

DEPRECIATION

At 1 January 2024

16,076

7,700

196,154

Charge for year

8,038

-

5,537

Eliminated on disposal

-

At 31 December 2024

24,114

7,700

201,691

NET BOOK VALUE

At 31 December 2024

16,076

-

9,471

At 31 December 2023

24,114

-

15,008

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 January 2024

110,915

108,017

477,984

Additions

145,155

-

145,155

Disposals

(110,915

)

-

(110,915

)

At 31 December 2024

145,155

108,017

512,224

DEPRECIATION

At 1 January 2024

61,445

107,081

388,456

Charge for year

18,378

240

32,193

Eliminated on disposal

(65,568

)

-

(65,568

)

At 31 December 2024

14,255

107,321

355,081

NET BOOK VALUE

At 31 December 2024

130,900

696

157,143

At 31 December 2023

49,470

936

89,528

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 January 2024

7,700

110,915

118,615

Additions

-

145,155

Transfer to ownership

(7,700

)

(110,915

)

(118,615

)

At 31 December 2024

-

145,155

DEPRECIATION

At 1 January 2024

7,700

61,445

69,145

Charge for year

-

18,378

Transfer to ownership

(7,700

)

(65,568

)

(73,268

)

At 31 December 2024

-

14,255

NET BOOK VALUE

At 31 December 2024

-

130,900

At 31 December 2023

-

49,470

6.

DEBTORS

31.12.24

31.12.23

£

Amounts falling due within one year:

Trade debtors

531,402

690,501

Other debtors

346,387

314,346

877,789

1,004,847

Amounts falling due after more than one year:

Other debtors

17,037

Aggregate amounts

894,826

1,021,884

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

34,316

8,500

Hire purchase contracts

17,993

51,460

Trade creditors

319,873

554,931

Taxation and social security

25,418

43,256

Other creditors

290,780

297,151

688,380

955,298

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans

4,250

12,750

Hire purchase contracts

103,108

-

107,358

12,750

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Hire purchase contracts

121,101

51,460

The hire purchase creditor is secured on the asset to which the contract relates.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

42,101

A Ordinary

£1

42,101

31,618

B Ordinary

£1

31,618

15,724

C Ordinary

£1

15,724

10,120

D Ordinary

£1

10,120

5,241

E Ordinary

£1

5,241

20

F Ordinary

£1

20

104,824

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

P Deavin

Balance outstanding at start of year

122,667

33,183

Amounts advanced

43,800

122,667

Amounts repaid

-

(33,183

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

166,467

122,667

J Moorey

Balance outstanding at start of year

75,400

6,308

Amounts advanced

42,704

75,400

Amounts repaid

-

(6,308

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

118,104

75,400

The loans to the directors have been made on an interest free basis and without terms of repayment.