Natural and Welsh Candles Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08375307 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

NATURAL AND WELSH CANDLES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Quinnell

Mr L S Quinnell

Mr J S G Quinnell

REGISTERED OFFICE:

Neath House

Trostrey

Usk

Gwent

NP15 1JH

REGISTERED NUMBER:

08375307 (England and Wales)

FIXED ASSETS

Tangible assets

4

77,039

55,844

CURRENT ASSETS

Stocks

95,000

100,150

Debtors

2,977

7,124

Cash at bank

2,615

-

100,592

107,274

CREDITORS

Amounts falling due within one year

22,893

71,866

NET CURRENT ASSETS

77,699

35,408

TOTAL ASSETS LESS CURRENT LIABILITIES

154,738

91,252

CREDITORS

Amounts falling due after more than one year

(35,961

)

-

PROVISIONS FOR LIABILITIES

(5,650

)

(1,600

)

NET ASSETS

113,127

89,652

CAPITAL AND RESERVES

Called up share capital

104

104

Retained earnings

113,023

89,548

SHAREHOLDERS' FUNDS

113,127

89,652

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

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

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Profit and loss and an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 March 2023 and were signed on its behalf by:

Mrs N Quinnell - Director

1.	STATUTORY INFORMATION

Natural and Welsh Candles Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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 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.

Going concern basis of accounting

The accounts have been prepared on the assumption that the company is able to carry on business as a going concern, which the directors consider appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

86,953

Additions

26,270

At 31 March 2022

113,223

DEPRECIATION

At 1 April 2021

31,109

Charge for year

5,075

At 31 March 2022

36,184

NET BOOK VALUE

At 31 March 2022

77,039

At 31 March 2021

55,844