Direct Wax Injection Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04875044 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2022

for

Direct Wax Injection Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Robson

REGISTERED OFFICE:

14a Waterside Business Park

Livingstone Road

Hessle

East Yorkshire

HU13 0EG

REGISTERED NUMBER:

04875044 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,307

5,279

CURRENT ASSETS

Stocks

750

750

Debtors

5

28,158

49,077

Cash at bank

109,944

100,853

138,852

150,680

CREDITORS

Amounts falling due within one year

6

49,350

62,984

NET CURRENT ASSETS

89,502

87,696

TOTAL ASSETS LESS CURRENT LIABILITIES

91,809

92,975

PROVISIONS FOR LIABILITIES

399

918

NET ASSETS

91,410

92,057

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

91,409

92,056

91,410

92,057

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2022 and were signed by:

R Robson - Director

1.	STATUTORY INFORMATION

Direct Wax Injection 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.	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 historical cost convention.

Turnover

Turnover represents net invoiced sales of services and goods, excluding value added tax.

Revenue recognition

Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company receives a right to consideration from its performance.

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

-

15% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and slow moving items. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which it related revenue is recognised. The amount of any write-down of stocks to net realisable value and losses of stocks are recognised as an expenses in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2021

83,832

700

28,837

987

114,356

Additions

977

-

-

-

977

Disposals

(550

)

-

-

-

(550

)

At 31 January 2022

84,259

700

28,837

987

114,783

DEPRECIATION

At 1 February 2021

80,827

700

26,565

985

109,077

Charge for year

1,675

-

2,272

2

3,949

Eliminated on disposal

(550

)

-

-

-

(550

)

At 31 January 2022

81,952

700

28,837

987

112,476

NET BOOK VALUE

At 31 January 2022

2,307

-

-

-

2,307

At 31 January 2021

3,005

-

2,272

2

5,279

Fixed assets, included in the above, which are held under finance leases are as follows:

Motor

vehicles

£

COST

At 1 February 2021

20,042

Transfer to ownership

(20,042

)

At 31 January 2022

-

DEPRECIATION

At 1 February 2021

20,042

Transfer to ownership

(20,042

)

At 31 January 2022

-

NET BOOK VALUE

At 31 January 2022

-

At 31 January 2021

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade debtors

14,787

45,447

Directors' current accounts

9,273

-

Prepayments

4,098

3,630

28,158

49,077

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Finance leases (see note 7)

-

6,159

Trade creditors

19,239

16,841

Corporation tax

16,030

18,444

Social security and other taxes

1,843

1,581

VAT

9,875

16,547

Other creditors

476

347

Directors' current accounts

-

834

Accrued expenses

1,887

2,231

49,350

62,984

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

31.1.22

31.1.21

£

£

Gross obligations repayable:

Within one year

-

8,133

Finance charges repayable:

Within one year

-

1,974

Net obligations repayable:

Within one year

-

6,159

Non-cancellable operating

leases

31.1.22

31.1.21

£

£

Within one year

9,403

9,403

Between one and five years

52,498

61,901

61,901

71,304

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.22

31.1.21

£

£

Finance leases

-

6,159

The debt is secured against the asset to which it relates.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Robson.