WGS LIMITED


Directors	WHARRAM, Richard Leonard William
	WHELDON, Edward


Company Secretary	WHELDON, Edward


Registered Address	Melton Court
	Gibson Lane
	Melton
	HU14 3HH


Registered Number	11196123 (England and Wales)

Balance Sheet as at
28 February 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		3,394		5,285
			3,394		5,285
Current assets
Stocks		14,072		20,937
Debtors	5	38,579		65,253
Cash at bank and on hand		145,773		86,900
		198,424		173,090
Creditors amounts falling due within one year	6	(200,028)		(176,792)
Net current assets (liabilities)			(1,604)		(3,702)
Total assets less current liabilities			1,790		1,583
Provisions for liabilities			(899)		(1,400)
Net assets			891		183
Capital and reserves
Called up share capital			100		100
Profit and loss account			791		83
Shareholders' funds			891		183

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 9 October 2026, and are signed on its behalf by:

WHELDON, Edward
Director
Registered Company No. 11196123

WGS LIMITED

Notes to the Financial Statements
for the year ended 28 February 2026

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 policy
	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.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	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.

	Current taxation
	Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Current taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 been 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not been 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.

	Intangible assets
	Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Website Development is being amortised evenly over its estimated useful life of nil years.

	Tangible fixed assets and depreciation
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


		Reducing balance (%)
	Plant and machinery	25
	Vehicles	20
	Office Equipment	33

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	10		10

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 March 25	5,250	5,250
At 28 February 26	5,250	5,250
Amortisation and impairment
At 01 March 25	5,250	5,250
At 28 February 26	5,250	5,250
Net book value
At 28 February 26	-	-
At 28 February 25	-	-

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 March 25	11,981	46,223	22,527	80,731
Additions	375	-	2,501	2,876
Disposals	-	-	(2,891)	(2,891)
At 28 February 26	12,356	46,223	22,137	80,716
Depreciation and impairment
At 01 March 25	11,792	43,064	20,590	75,446
Charge for year	180	3,159	1,428	4,767
On disposals	-	-	(2,891)	(2,891)
At 28 February 26	11,972	46,223	19,127	77,322
Net book value
At 28 February 26	384	-	3,010	3,394
At 28 February 25	189	3,159	1,937	5,285

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	28,279	27,448
Other debtors	4,526	29,712
Prepayments and accrued income	5,774	8,093
Total	38,579	65,253

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	125,762	131,771
Taxation and social security	51,944	44,497
Other creditors	2,243	524
Accrued liabilities and deferred income	20,079	-
Total	200,028	176,792