Wright Removals and Storage Ltd. Filleted accounts for Companies House (small and micro)

WRIGHT REMOVALS AND STORAGE LTD. - Company Information

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Wright Removals and Storage Ltd.

Unaudited financial statements

31 December 2022

Company Registration Number 07563476

Wright Removals and Storage Ltd.

Financial statements

year ended 31 December 2022

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 4

Wright Removals and Storage Ltd.

Balance sheet

31 December 2022

		2021
Note	£		£

Current assets

Debtors	4	432,583	434,234
Cash at bank and in hand		1,758	1,819
		---------	---------
		434,341	436,053

Creditors: amounts falling due within one year	5	( 372,231)		( 377,909)
		---------		---------
Net current assets			62,110		58,144
			--------		--------
Total assets less current liabilities			62,110		58,144

Creditors: amounts falling due after more than one year	6	( 36,668)	( 34,167)
		--------	--------
Net assets		25,442	23,977
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	25,441	23,976
	--------	--------
Shareholders funds	25,442	23,977
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account and directors' report have not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Wright Removals and Storage Ltd.

Balance sheet (continued)

31 December 2022

These financial statements were approved by the board of directors and authorised for issue on 27 September 2023 , and are signed on behalf of the board by:

Mr C D Wright

Director

Company registration number: 07563476

Wright Removals and Storage Ltd.

Notes to the financial statements

year ended 31 December 2022

1. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

3. Employee numbers

The average number of persons employed by the company during the year amounted to – (2021: –).

4. Debtors

	2022	2021
	£	£

Trade debtors	1,330	1,066
Other debtors	431,253	433,168
	---------	---------
	432,583	434,234
	---------	---------

5. Creditors: amounts falling due within one year

	2022	2021
	£	£

Bank loans and overdrafts	360,899	364,691
Trade creditors	4,716	7,527
Corporation tax	4,431	3,875
Other creditors	2,185	1,816
	---------	---------
	372,231	377,909
	---------	---------

6. Creditors: amounts falling due after more than one year

	2022	2021
	£	£

Bank loans and overdrafts	36,668	34,167
	--------	--------

7. Related party transactions

The company was under the control of Mr C and Mrs D Wright throughout the current and previous year. Mrs D Wright is the majority shareholder.

8. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Wright Business Park, Carr Hill, Doncaster, DN4 8DE, South Yorkshire.