Womersley's Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04493245 (England and Wales)

Womersley's Limited

Financial Statements

for the Year Ended 30 September 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M A Womersley

Mr I Womersley

SECRETARY:

Mr I Womersley

REGISTERED OFFICE:

Ravensthorpe Industrial Estate

Low Mill Lane

Ravensthorpe

Dewsbury

West Yorkshire

WF13 3LN

REGISTERED NUMBER:

04493245 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

36,685

41,584

36,685

41,584

CURRENT ASSETS

Stocks

159,440

142,477

Debtors

6

134,297

94,441

Cash at bank

64,796

72,840

358,533

309,758

CREDITORS

Amounts falling due within one year

7

313,381

259,977

NET CURRENT ASSETS

45,152

49,781

TOTAL ASSETS LESS CURRENT LIABILITIES

81,837

91,365

CREDITORS

Amounts falling due after more than one year

8

-

(6,771

)

PROVISIONS FOR LIABILITIES

(9,171

)

(7,901

)

NET ASSETS

72,666

76,693

CAPITAL AND RESERVES

Called up share capital

10

100

2

Retained earnings

72,566

76,691

SHAREHOLDERS' FUNDS

72,666

76,693

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2024 and were signed on its behalf by:

Mr M A Womersley - Director

Mr I Womersley - Director

1.	STATUTORY INFORMATION

Womersley's 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.

The functional and presentational currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Goodwill

Goodwill, being the amounts paid in connection with the acquisition of a business in 2002, is, from the date of transition to FRS 102 (1 October 2015), being amortised evenly of its estimated remaining useful life of 7 years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Fixed assets are initially recorded at 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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2022

and 30 September 2023

103,333

AMORTISATION

At 1 October 2022

and 30 September 2023

103,333

NET BOOK VALUE

At 30 September 2023

-

At 30 September 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2022

24,178

6,000

35,995

66,173

Additions

7,830

71

-

7,901

Disposals

(1,950

)

-

-

(1,950

)

At 30 September 2023

30,058

6,071

35,995

72,124

DEPRECIATION

At 1 October 2022

13,398

3,692

7,499

24,589

Charge for year

2,630

703

8,999

12,332

Eliminated on disposal

(1,482

)

-

-

(1,482

)

At 30 September 2023

14,546

4,395

16,498

35,439

NET BOOK VALUE

At 30 September 2023

15,512

1,676

19,497

36,685

At 30 September 2022

10,780

2,308

28,496

41,584

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2022

and 30 September 2023

35,995

DEPRECIATION

At 1 October 2022

7,499

Charge for year

8,999

At 30 September 2023

16,498

NET BOOK VALUE

At 30 September 2023

19,497

At 30 September 2022

28,496

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

125,564

88,676

Other debtors

129

-

Directors' current accounts

3,311

-

Prepayments and accrued income

5,293

5,765

134,297

94,441

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

1,860

5,417

Trade creditors

209,342

156,923

Tax

1,059

4,039

Social security and other taxes

4,070

4,099

VAT

38,386

22,132

Other creditors

3,078

1,999

Wages creditor

-

3,295

Directors' current accounts

34,198

49,685

Accruals and deferred income

21,388

12,388

313,381

259,977

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

-

6,771

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

1,860

5,417

Between one and five years

-

6,771

1,860

12,188

Non-cancellable

operating leases

2023

2022

£

£

Within one year

1,188

1,188

Between one and five years

4,752

4,752

In more than five years

999

2,178

6,939

8,118

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

80

Ordinary

1

80

2

20

A Ordinary

1

20

-

100

2

On 20 December 2022, 98 Ordinary shares were issued at par and then 20 Ordinary shares were reclassified as A Ordinary shares.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023

2022

£

£

Mr M A Womersley

Balance outstanding at start of year

-

-

Amounts advanced

3,311

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,311

-