Wang (Stone) Ltd
Wang (Stone) Ltd
Registered number: 11438585
Financial Statements
For The Year Ended
30 June 2021
H&C Accountants Limited
Chartered Certified Accountants
One Victoria Square
Birmingham
B1 1BD
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Wang (Stone) Ltd
Financial Statements
For The Year Ended
30 June 2021
Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—5 |
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Wang (Stone) Ltd
Balance Sheet
As at
30 June 2021
Balance Sheet
Registered number:
11438585
For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Stocks | 3 |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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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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| SHAREHOLDERS' FUNDS | 1,890 | 10,097 | |||
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Wang (Stone) Ltd
Balance Sheet (continued)
As at
30 June 2021
Directors' responsibilities:
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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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 4 to 5 form part of these financial statements.
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Wang (Stone) Ltd
Notes to the Financial Statements
For The Year Ended
30 June 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.
Average Number of Employees
Average number of employees, including directors, during the year was 4 (2020: 4)
3.
Stocks
| 2021 | 2020 | ||
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| £ | £ | ||
| Stock - materials |
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4.
Debtors
| 2021 | 2020 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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5.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Corporation tax |
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| Other taxes and social security |
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| Accruals and deferred income |
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| Directors' loan accounts |
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Wang (Stone) Ltd
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2021
6.
Share Capital
| 2021 | 2020 | ||
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| Allotted, Called up and fully paid |
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7.
Related Party Transactions
During the year, the company has paid dividends totalling of £10,200 to the directors.
8.
General Information
Wang (Stone) Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
11438585
. The registered office is 6 Oulton Road, Stone, ST15 8DZ.
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