Worboys Antique Restorers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04370696 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2022

for

Worboys Antique Restorers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N V Worboys

Mrs C Worboys

SECRETARY:

A Worboys

REGISTERED OFFICE:

18, The Lagger

Chalfont St. Giles

Bucks.

HP8 4DG

REGISTERED NUMBER:

04370696 (England and Wales)

ACCOUNTANTS:

Lawson & Co.

18, The Lagger

Chalfont St. Giles

Bucks.

HP8 4DG

CURRENT ASSETS

Debtors

4

191,356

152,897

Cash at bank

5,527

3,998

196,883

156,895

CREDITORS

Amounts falling due within one year

5

17,730

16,312

NET CURRENT ASSETS

179,153

140,583

TOTAL ASSETS LESS CURRENT LIABILITIES

179,153

140,583

CREDITORS

Amounts falling due after more than one year

6

25,000

-

NET ASSETS

154,153

140,583

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

8

154,152

140,582

SHAREHOLDERS' FUNDS

154,153

140,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 30 November 2022 and were signed on its behalf by:

N V Worboys - Director

1.	STATUTORY INFORMATION

Worboys Antique Restorers 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.

Tangible fixed assets

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

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.

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 2 (2021 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade debtors

2,150

2,150

Amounts owed by group undertakings

188,156

149,997

Other debtors

1,050

750

191,356

152,897

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Taxation and social security

15,738

12,015

Other creditors

1,992

4,297

17,730

16,312

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans

25,000

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.22

28.2.21

value:

£

£

1

Ordinary

£1

1

1

8.

RESERVES

Retained

earnings

£

At 1 March 2021

140,582

Profit for the year

25,570

Dividends

(12,000

)

At 28 February 2022

154,152

9.	RELATED PARTY DISCLOSURES

During the year the company paid £12,000 (2021: £12,000) in rent for use of premises to a related company Worboys & Johnston Limited. Services to the value of £20,973 (2021: £19,920) were provided to that company. At the year end there was a balance owing to the company from Worboys & Johnston Limited of £188,156 (2021: £149,997) as shown in Note 6.

The company is controlled by director and shareholder Mr. N. Worboys.

During the year the director, in his capacity as a shareholder, has received dividends amounting to £12,000 (2021: £12,000).