Company registration number: 02750483
Annual report and unaudited financial statements
for the year ended 30 September 2025
for
Terry Waters French Polishing Limited
Pages for filing with the Registrar
Company registration number: 02750483
Terry Waters French Polishing Limited
Balance sheet
as at 30 September 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 115,199 113,016
115,199 113,016
Current assets
Stocks 2,975 2,975
Debtors 171,532 370,360
Cash at bank and in hand 143,656 80,417
318,163 453,752
Creditors: amounts falling due within one
year 		(146,096) (259,087)
Net current assets 172,067 194,665
Total assets less current liabilities 287,266 307,681
Creditors: Amounts falling due after more
than one year 		(24,353) (36,166)
Provisions for liabilities (28,800) (28,255)
NET ASSETS 234,113 243,260
Capital and reserves
Called up share capital 100 100
Profit and loss account 234,013 243,160
TOTAL EQUITY 234,113 243,260
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 September 2025.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 02750483
Terry Waters French Polishing Limited
Balance sheet - continued
as at 30 September 2025
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 has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 2 June 2026 and signed on its behalf by:
Mr A Waters, Director
2 June 2026
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Terry Waters French Polishing Limited
Notes to the financial statements
for the year ended 30 September 2025
1 Company information
Terry Waters French Polishing Limited is a private company registered in England and Wales. Its registered number is 02750483. The company is limited by shares. Its registered office is Hurley Hall Atherstone Lane, Hurley, Atherstone, CV9 2HT.
2 Accounting policies
Basis of preparing the financial statements
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. The financial statements have been prepared under the historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.
Plant and machinery etc.:
Improvements to property - 10% straight line
Plant and machinery - 15% reducing balance
Fixtures & fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Terry Waters French Polishing Limited
Notes to the financial statements - continued
for the year ended 30 September 2025
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 19 (2024 - 19).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 October 2024 357,440
Additions 30,983
At 30 September 2025 388,423
Depreciation
At 1 October 2024 244,424
Charge for year 28,800
At 30 September 2025 273,224
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Terry Waters French Polishing Limited
Notes to the financial statements - continued
for the year ended 30 September 2025
4 Tangible fixed assets - continued
Net book value
At 30 September 2025 115,199
At 30 September 2024 113,016
If Tangible fixed assets had not been revalued, it would have been included at the following historical cost:
2025 2024
£ £
Cost 388,424 327,506
Accumulated depreciation 273,223 236,171
5 Secured debts
The bank loan is unsecured by the company. The hire purchase loans are secured on the specific assets acquired by this finance.
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