WEAR & SPILLAGE SUPPLIES LIMITED

WEAR & SPILLAGE SUPPLIES LIMITED

WEAR & SPILLAGE SUPPLIES LIMITED - Company Information

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WEAR & SPILLAGE SUPPLIES LIMITED

Company Registration Number:
07223291 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2022

Period of accounts

Start date: 01 May 2021

End date: 30 April 2022

WEAR & SPILLAGE SUPPLIES LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2022

Balance sheet
Notes

WEAR & SPILLAGE SUPPLIES LIMITED

Balance sheet

As at 30 April 2022


Notes
2022
2021


£
£
Fixed assets
Tangible assets: 3 57,464 47,745
Total fixed assets: 57,464 47,745
Current assets
Stocks: 174,147 93,750
Debtors:   246,775 281,186
Cash at bank and in hand: 204,421 55,147
Total current assets: 625,343 430,083
Creditors: amounts falling due within one year:   (309,101) (221,047)
Net current assets (liabilities): 316,242 209,036
Total assets less current liabilities: 373,706 256,781
Total net assets (liabilities): 373,706 256,781
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 373,704 256,779
Shareholders funds: 373,706 256,781

The notes form part of these financial statements

WEAR & SPILLAGE SUPPLIES LIMITED

Balance sheet statements

For the year ending 30 April 2022 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 19 January 2023
and signed on behalf of the board by:

Name: V Walker
Status: Director

The notes form part of these financial statements

WEAR & SPILLAGE SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2022

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 is recognised at the fair value of the consideration received or receivable for goods and servicesprovided in the normal course of business, and is shown net of VAT and other sales related taxes. The fairvalue of consideration takes into account trade discounts, settlement discounts and volume rebates

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over theiruseful lives on the following bases:Plant and machinery: 25% Reducing BalanceFixtures, fittings & equipment: 20% Straight LineMotor Vehicles: 25% Reducing BalanceOffice equipment: 33% Straight Line

Other accounting policies

StocksStocks are stated at the lower of cost and estimated selling price less costs to complete and sell.At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocksover its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit orloss. Reversals of impairment losses are also recognised in profit or loss.Cash at bank and in handCash and cash equivalents are basic financial assets and include cash in hand, deposits held at call withbanks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

WEAR & SPILLAGE SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2022

2. Employees

2022 2021
Average number of employees during the period 8 8

WEAR & SPILLAGE SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2022

3. Tangible Assets

Total
Cost £
At 01 May 2021 125,982
Additions 33,723
Disposals (10,587)
At 30 April 2022 149,118
Depreciation
At 01 May 2021 78,237
Charge for year 19,537
On disposals (6,120)
At 30 April 2022 91,654
Net book value
At 30 April 2022 57,464
At 30 April 2021 47,745