Worcester Compressors Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 10809528 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2023

for

Worcester Compressors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M A Smith

SECRETARY:

REGISTERED OFFICE:

Unit 14

Elgar Business Centre

Moseley Road

Hallow

Worcestershire

WR2 6NJ

REGISTERED NUMBER:

10809528 (England and Wales)

ACCOUNTANTS:

SW&A Accountants

Unit 14

Elgar Business Centre

Moseley Road

Worcester

Worcestershire

WR2 6NJ

FIXED ASSETS

Tangible assets

4

28,326

32,823

CURRENT ASSETS

Stocks

83,549

96,760

Debtors

5

18,688

7,960

Cash at bank

33,047

36,823

135,284

141,543

CREDITORS

Amounts falling due within one year

6

90,216

137,522

NET CURRENT ASSETS

45,068

4,021

TOTAL ASSETS LESS CURRENT LIABILITIES

73,394

36,844

PROVISIONS FOR LIABILITIES

4,242

4,847

NET ASSETS

69,152

31,997

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

69,102

31,947

69,152

31,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 7 March 2024 and were signed by:

Mr M A Smith - Director

1.	STATUTORY INFORMATION

Worcester Compressors 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.

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 etc

-

33% on cost, 25% on reducing balance, 20% on reducing balance, 10% on reducing balance and not provided

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 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2022

and 30 June 2023

52,581

DEPRECIATION

At 1 July 2022

19,758

Charge for year

4,497

At 30 June 2023

24,255

NET BOOK VALUE

At 30 June 2023

28,326

At 30 June 2022

32,823

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

15,067

-

Other debtors

3,621

7,960

18,688

7,960

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade creditors

15,540

15,653

Taxation and social security

8,598

-

Client Trust Acct

66,078

121,869

90,216

137,522