West Midlands Contractors Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09596927 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2023

for

West Midlands Contractors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R T Wassell

REGISTERED OFFICE:

81 Teme Street

Tenbury Wells

Worcestershire

WR15 8AE

REGISTERED NUMBER:

09596927 (England and Wales)

ACCOUNTANTS:

dhjh Tenbury Wells LLP

Chartered Certified Accountants

81 Teme Street

Tenbury Wells

WR15 8AE

CURRENT ASSETS

Stocks

4

713,016

1,180,615

Debtors

5

1,087,526

6,258

Cash at bank

226,485

123,240

2,027,027

1,310,113

CREDITORS

Amounts falling due within one year

6

1,030,072

711,064

NET CURRENT ASSETS

996,955

599,049

TOTAL ASSETS LESS CURRENT LIABILITIES

996,955

599,049

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

996,855

598,949

996,955

599,049

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

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 26 October 2023 and were signed by:

R T Wassell - Director

1.	STATUTORY INFORMATION

West Midlands Contractors 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.

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.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.

STOCKS

2023

2022

£

£

Stocks

713,016

1,180,615

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

1,053,784

-

VAT

33,742

6,258

1,087,526

6,258

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

49

49

Tax

101,675

-

Other creditors

20,000

10,000

Other loan

205,487

205,487

Directors' current accounts

531,293

493,828

Accrued expenses

171,568

1,700

1,030,072

711,064

7.

RESERVES

Retained

earnings

£

At 1 June 2022

598,949

Profit for the year

407,906

Dividends

(10,000

)

At 31 May 2023

996,855