Willem Barentsz Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09127207 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

FOR

WILLEM BARENTSZ LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J F Claessens

REGISTERED OFFICE:

51 Wellbeck Street

Basement

London

W1G 9HL

REGISTERED NUMBER:

09127207 (England and Wales)

FIXED ASSETS

Intangible assets

4

9,375

11,400

Tangible assets

5

34,764

41,613

44,139

53,013

CURRENT ASSETS

Stocks

133,289

122,718

Debtors

39,600

15,474

Cash at bank

2,979

2,362

175,868

140,554

CREDITORS

Amounts falling due within one year

483,306

1,997,662

NET CURRENT LIABILITIES

(307,438

)

(1,857,108

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(263,299

)

(1,804,095

)

CREDITORS

Amounts falling due after more than one year

1,569,953

39,167

NET LIABILITIES

(1,833,252

)

(1,843,262

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(1,833,253

)

(1,843,263

)

SHAREHOLDERS' FUNDS

(1,833,252

)

(1,843,262

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 July 2023 and were signed by:

M J F Claessens - Director

1.	STATUTORY INFORMATION

Willem Barentsz 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.

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Computer Equipment

-

33% 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The directors continue to adopt the going concern basis of accounting in preparing financial statements.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2021

and 31 July 2022

16,250

AMORTISATION

At 1 August 2021

4,850

Amortisation for year

2,025

At 31 July 2022

6,875

NET BOOK VALUE

At 31 July 2022

9,375

At 31 July 2021

11,400

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2021

and 31 July 2022

68,674

DEPRECIATION

At 1 August 2021

27,061

Charge for year

6,849

At 31 July 2022

33,910

NET BOOK VALUE

At 31 July 2022

34,764

At 31 July 2021

41,613

6.

LOANS

An analysis of the maturity of loans is given below:

31.7.22

31.7.21

£

£

Amounts falling due within one year or on demand:

Bank loans

6,116

10,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

6,116

10,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

31,656

29,167

The loan outstanding is a government backed bounce back loan, interest is charged at 2.5% per annum after the first year. This loan is repayable within 5 years.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

£

£

1

Ordinary

£1

1

1

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Claessens by virtue of his 100% shareholding.

9.	GOING CONCERN

These accounts have been prepared on the going concern basis on the understanding that the company is able to meet its liabilities as they fall due.