S Webb & Son Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00541583 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

S WEBB & SON LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J M Ward

Mr T A Ward

Mr T T Ward

Mr A J Ward

SECRETARY:

Mrs A M Ward

REGISTERED OFFICE:

17 Upper High Street

Wednesbury

West Midlands

WS10 7HQ

REGISTERED NUMBER:

00541583 (England and Wales)

ACCOUNTANTS:

Wright & Co Partnership Limited

Chartered Accountants

5 Walsall Street

Wednesbury

West Midlands

WS10 9BZ

FIXED ASSETS

Tangible assets

4

950,679

1,113,584

CURRENT ASSETS

Stocks

6,975

5,750

Debtors

24,842

31,829

Cash at bank and in hand

319,026

289,568

350,843

327,147

CREDITORS

Amounts falling due within one year

344,602

314,729

NET CURRENT ASSETS

6,241

12,418

TOTAL ASSETS LESS CURRENT LIABILITIES

956,920

1,126,002

CREDITORS

Amounts falling due after more than one year

5

(571,647

)

(688,880

)

PROVISIONS FOR LIABILITIES

(122,990

)

(145,558

)

NET ASSETS

262,283

291,564

CAPITAL AND RESERVES

Called up share capital

6,001

6,001

Retained earnings

256,282

285,563

SHAREHOLDERS' FUNDS

262,283

291,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 29 June 2019 and were signed on its behalf by:

Mr T A Ward - Director

1.	STATUTORY INFORMATION

S Webb & Son 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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.

Improvements to property

-

10% on cost

Plant & machinery

-

10% on reducing balance

Fixtures & fittings

-

10% on reducing balance

Motor vehicles

-

at varying rates on cost

Computer equipment

-

25% on 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 12 (2017 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 October 2017

and 30 September 2018

1,553,913

DEPRECIATION

At 1 October 2017

440,329

Charge for year

162,905

At 30 September 2018

603,234

NET BOOK VALUE

At 30 September 2018

950,679

At 30 September 2017

1,113,584

Cost or valuation at 30 September 2018 is represented by:

Totals

£

Valuation in 2010

241,399

Cost

1,312,514

1,553,913

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2018

2017

£

£

Cost

43,601

43,601

Freehold land and buildings were valued on an open market basis on 14 June 2010 by Sellers, Chartered Surveyors .

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals

£

COST OR VALUATION

At 1 October 2017

and 30 September 2018

1,148,112

DEPRECIATION

At 1 October 2017

359,458

Charge for year

159,548

At 30 September 2018

519,006

NET BOOK VALUE

At 30 September 2018

629,106

At 30 September 2017

788,654

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable by instalments

Finance leases

-

18,224

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

(65

)

3,219

Finance leases

684,388

813,759

684,323

816,978

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £152,416 (2017 - £170,375) were paid to the directors .

8.	ULTIMATE CONTROLLING PARTY