WHEELSBROOK SERVICES LIMITED

WHEELSBROOK SERVICES LIMITED

WHEELSBROOK SERVICES LIMITED - Company Information

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WHEELSBROOK SERVICES LIMITED

Company Registration Number:
06650650 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2021

Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

WHEELSBROOK SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2021

Balance sheet
Notes

WHEELSBROOK SERVICES LIMITED

Balance sheet

As at 31 March 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 9,382 2,820
Total fixed assets: 9,382 2,820
Current assets
Stocks: 118,368 108,705
Debtors: 4 145,660 127,726
Cash at bank and in hand: 93,850 104,373
Total current assets: 357,878 340,804
Creditors: amounts falling due within one year: 5 (185,597) (195,223)
Net current assets (liabilities): 172,281 145,581
Total assets less current liabilities: 181,663 148,401
Provision for liabilities: (1,069)
Total net assets (liabilities): 180,594 148,401
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 180,494 148,301
Shareholders funds: 180,594 148,401

The notes form part of these financial statements

WHEELSBROOK SERVICES LIMITED

Balance sheet statements

For the year ending 31 March 2021 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 & loss account.

This report was approved by the board of directors on 21 December 2021
and signed on behalf of the board by:

Name: Nigel Turner
Status: Director

The notes form part of these financial statements

WHEELSBROOK SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the sales of goods and services excluding value added tax. Turnover is recognised when goods or services are physically delivered to the customer.

Tangible fixed assets and depreciation policy

Depreciation has been provided to write off tangible fixed assets over their estimated useful economic lives at the following rates.Vehicles 4 years based on cost

Intangible fixed assets and amortisation policy

GoodwillPurchased goodwill (representing the excess of the fair value of the consideration given over the fair value of the separable net assets acquired) arising on business combinations is capitalised. Positive goodwill is amortised to nil by equal annual instalments over its estimated useful life.

Valuation and information policy

StocksStock is valued at the lower of cost and estimated net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.DebtorsProvision is made for debts where recovery is considered doubtful

Other accounting policies

TaxationThe charge for taxation is based on the profit for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise, based on current tax rates and law.

WHEELSBROOK SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

2. Employees

2021 2020
Average number of employees during the period 6 6

WHEELSBROOK SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

3. Tangible Assets

Total
Cost £
At 01 April 2020 25,207
Additions 7,500
At 31 March 2021 32,707
Depreciation
At 01 April 2020 22,387
Charge for year 938
At 31 March 2021 23,325
Net book value
At 31 March 2021 9,382
At 31 March 2020 2,820

WHEELSBROOK SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

4. Debtors

2021 2020
££
Debtors due after more than one year: 0 0

WHEELSBROOK SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

5. Creditors: amounts falling due within one year note

Creditors less than 1 year is as follows:Other Loans £50,000 (2020: £nil)Trade creditors £111,301 (2020: £162,748)Tax & Social Security £24,296 (2020: £32,409)Directors loan £nil (2020: £66)

WHEELSBROOK SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

6. Loans to directors

Name of director receiving advance or credit: Nigel Turner
Description of the loan: Loans advanced to directors
£
Balance at 01 April 2020 0
Advances or credits made: 48,550
Balance at 31 March 2021 48,550