Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Current assets | ||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| 114,615 | 102,936 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current assets | 27,363 | 8,228 | ||
| Total assets less current liabilities | 27,363 | 8,228 | ||
| Creditors: amounts falling due after more than one year | 5 |
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Wing Mirror Store Limited (registered number:
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Mrs Grazyna Kujawska
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Wing Mirror Store Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Penstraze Business Centre Penstraze, Chacewater, Truro, TR4 8PN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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| £ | £ | ||
| Bank loans |
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| Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
| 2025 | 2024 | ||
| £ | £ | ||
| Mrs Grazyna Kujawska | 60,323 | 69,603 |
During the year, advances of £39,470 were made to the director, while repayments of £48,750 were made from the director. Interest has been charged on the balance at a rate of 3.75%.