Warwick Banks and Jenkins Limited Filleted accounts for Companies House (small and micro)

WARWICK BANKS AND JENKINS LIMITED - Company Information

false false false false false false false false false true false false true true true true true No description of principal activity 2017-07-01 Sage Accounts Production Advanced 2018 Update 1 - FRS xbrli:pure xbrli:shares iso4217:GBP 05871774 2017-07-01 2018-06-30 05871774 2018-06-30 05871774 2017-06-30 05871774 2016-07-01 2017-06-30 05871774 2017-06-30 05871774 bus:Director3 2017-07-01 2018-06-30 05871774 bus:Director1 2017-07-01 2018-06-30 05871774 bus:Director2 2017-07-01 2018-06-30 05871774 core:WithinOneYear 2018-06-30 05871774 core:WithinOneYear 2017-06-30 05871774 core:ShareCapital 2018-06-30 05871774 core:ShareCapital 2017-06-30 05871774 core:SharePremium 2018-06-30 05871774 core:RetainedEarningsAccumulatedLosses 2018-06-30 05871774 core:RetainedEarningsAccumulatedLosses 2017-06-30 05871774 bus:Director2 2017-06-30 05871774 bus:Director2 2018-06-30 05871774 bus:Director3 2017-06-30 05871774 bus:Director2 2017-06-30 05871774 bus:Director3 2017-06-30 05871774 bus:Director1 2016-07-01 2017-06-30 05871774 bus:Director2 2016-07-01 2017-06-30 05871774 bus:Director3 2016-07-01 2017-06-30 05871774 bus:SmallEntities 2017-07-01 2018-06-30 05871774 bus:AuditExempt-NoAccountantsReport 2017-07-01 2018-06-30 05871774 bus:FullAccounts 2017-07-01 2018-06-30 05871774 bus:SmallCompaniesRegimeForAccounts 2017-07-01 2018-06-30 05871774 bus:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30

COMPANY REGISTRATION NUMBER: 05871774

Warwick Banks and Jenkins Limited

Filleted Unaudited Financial Statements

30 June 2018

Warwick Banks and Jenkins Limited

Statement of Financial Position

30 June 2018

	2018	2017
Note	£	£

Current assets

Stocks		81,855	70,000
Debtors	4	334,650	60,537
Cash at bank and in hand		1,500	22,104
		---------	---------
		418,005	152,641

Creditors: amounts falling due within one year	5	369,113	174,863
		---------	---------
Net current assets/(liabilities)		48,892	( 22,222)
		--------	--------
Total assets less current liabilities		48,892	( 22,222)
		--------	--------
Net assets/(liabilities)		48,892	( 22,222)
		--------	--------

Capital and reserves

Called up share capital	150	150
Share premium account	24,950	–
Profit and loss account	23,792	( 22,372)
	--------	--------
Shareholders funds/(deficit)	48,892	( 22,222)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Warwick Banks and Jenkins Limited

Statement of Financial Position (continued)

30 June 2018

These financial statements were approved by the board of directors and authorised for issue on 27 March 2019 , and are signed on behalf of the board by:

OG Warwick Banks

Director

Company registration number: 05871774

Warwick Banks and Jenkins Limited

Notes to the Financial Statements

Year ended 30 June 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47 Marylebone Lane, London, W1U 2NT, England.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument .

3. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2017: 1 ).

4. Debtors

	2018	2017
	£	£
Trade debtors	130,343	57,382
Other debtors	204,307	3,155
	---------	--------
	334,650	60,537
	---------	--------

5. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	48,350	–
Trade creditors	11,992	62,820
Corporation tax	39,745	2,694
Social security and other taxes	49,522	21,696
Other creditors	219,504	87,653
	---------	---------
	369,113	174,863
	---------	---------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr HJJ Jenkins	–	–	–	–
Mr NJJ Jenkins	84,588	276,226	( 352,054)	8,760
OG Warwick Banks	( 611)	611	–	–
	--------	---------	---------	-------
	83,977	276,837	( 352,054)	8,760
	--------	---------	---------	-------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr HJJ Jenkins	–	40,382	( 40,382)	–
Mr NJJ Jenkins	–	125,000	( 40,412)	84,588
OG Warwick Banks	–	59,186	( 59,797)	( 611)
	----	---------	---------	--------
	–	224,568	( 140,591)	83,977
	----	---------	---------	--------

7. Related party transactions

During the year consultancy fee of £23,600 (2017:£11,834) were paid to Mr HJJ Jenkins , company director.