T. Worthington & Son (Properties) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04429109 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2018

for

T. Worthington & Son (Properties)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T M Worthington

T D Worthington

SECRETARY:

T M Worthington

REGISTERED OFFICE:

1 Kings Road

Llandovery

Carmarthenshire

SA20 0AW

REGISTERED NUMBER:

04429109 (England and Wales)

ACCOUNTANTS:

Guilfoyle Sage LLP

21 Gold Tops

Newport

South Wales

NP20 4PG

FIXED ASSETS

Tangible assets

4

591,642

591,642

CURRENT ASSETS

Cash at bank

6,278

5,102

CREDITORS

Amounts falling due within one year

5

327,754

317,110

NET CURRENT LIABILITIES

(321,476

)

(312,008

)

TOTAL ASSETS LESS CURRENT LIABILITIES

270,166

279,634

CREDITORS

Amounts falling due after more than one year

6

167,000

181,250

NET ASSETS

103,166

98,384

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

103,066

98,284

SHAREHOLDERS' FUNDS

103,166

98,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 26 February 2019 and were signed on its behalf by:

T D Worthington - Director

T M Worthington - Director

1.	STATUTORY INFORMATION

T. Worthington & Son (Properties) 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis as the directors believe that

the company will be able to obtain sufficient funding to secure the continued financing of the

company's activities for the foreseeable future.

Tangible fixed assets

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

Land and buildings

-

not provided

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 NIL (2017 - 2 ).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 June 2017

and 31 May 2018

591,642

NET BOOK VALUE

At 31 May 2018

591,642

At 31 May 2017

591,642

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Taxation and social security

1,122

2,467

Other creditors

326,632

314,643

327,754

317,110

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Other creditors

167,000

181,250

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

100

Ordinary

1

100

100

8.	RELATED PARTY DISCLOSURES

At the period end, the company owed £70,750 to T Worthington and Son Storage Solutions (Wales)

Limited. T Worthington and Son Storage Solutions (Wales) Limited is owned by Mr T M

Worthington, Mr T D Worthington and his wife Mrs M Worthington. who each own 47%, 6% and

47% of the company respectively.