Arden Winch & Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01253792 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Arden Winch & Co Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

A C Banks

S Barker

Miss J E Cooke

R H Wetherill

N A Winch

J Steel

SECRETARY:

Miss J E Cooke

REGISTERED OFFICE:

9 Acres Hill Lane

Sheffield

S9 4LR

REGISTERED NUMBER:

01253792 (England and Wales)

ACCOUNTANTS:

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

HSBC

660 Staniforth Road

Darnall

Sheffield

South Yorkshire

S9 4LQ

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Arden Winch & Co Limited for the year ended

31 December 2018 which comprise the Income Statement, Other Comprehensive Income, Balance

Sheet, Statement of Changes in Equity and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Arden Winch & Co Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Arden Winch & Co Limited and state those matters that we have agreed to state to the Board of Directors of Arden Winch & Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arden Winch & Co Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Arden Winch & Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arden Winch & Co Limited. You consider that Arden Winch & Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Arden Winch & Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

20 June 2019

FIXED ASSETS

Tangible assets

4

1,244,056

1,243,809

Investment property

5

481,299

481,299

1,725,355

1,725,108

CURRENT ASSETS

Stocks

653,548

582,807

Debtors

6

963,615

767,779

Cash in hand

7,312

1,355

1,624,475

1,351,941

CREDITORS

Amounts falling due within one year

7

(1,080,322

)

(895,088

)

NET CURRENT ASSETS

544,153

456,853

TOTAL ASSETS LESS CURRENT LIABILITIES

2,269,508

2,181,961

CREDITORS

Amounts falling due after more than one year

8

(1,280

)

-

NET ASSETS

2,268,228

2,181,961

CAPITAL AND RESERVES

Called up share capital

90,415

90,415

Share premium

8,243

8,243

Revaluation reserve

10

122,495

122,724

Capital redemption reserve

3,510

3,510

Retained earnings

2,043,565

1,957,069

2,268,228

2,181,961

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 June 2019 and were signed on its behalf by:

S Barker - Director

1.	STATUTORY INFORMATION

Arden Winch & Co 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.

Land and buildings

-

1% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to

the contractual provisions of the instrument. Financial liabilities and equity instruments are

classified according to the substance of the contractual arrangements entered into. An

equity instrument is any contract that evidences a residual interest in the assets of the

company after deducting all of its liabilities.

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

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 50 (2017 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

1,159,683

631,970

1,791,653

Additions

-

40,420

40,420

Disposals

-

(15,505

)

(15,505

)

At 31 December 2018

1,159,683

656,885

1,816,568

DEPRECIATION

At 1 January 2018

97,737

450,107

547,844

Charge for year

11,592

26,632

38,224

Eliminated on disposal

-

(13,556

)

(13,556

)

At 31 December 2018

109,329

463,183

572,512

NET BOOK VALUE

At 31 December 2018

1,050,354

193,702

1,244,056

At 31 December 2017

1,061,946

181,863

1,243,809

The company's sheffield properties were revalued on 5/2/2009 by an independent valuer at

£675,000 and have been included in the accounts at this valuation plus future additions at

cost. The directors do not consider this valuation to have changed at 31 December 2018 and

is stated at a fair value. Had this class of assets been measured on a historical cost basis, the

carrying amount would have been £614,255 (2017 - £622,306).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

and 31 December 2018

481,299

NET BOOK VALUE

At 31 December 2018

481,299

At 31 December 2017

481,299

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

900,128

700,289

Other debtors

63,487

67,490

963,615

767,779

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

38,010

116,080

Finance leases

14,835

2,714

Trade creditors

837,387

660,894

Taxation and social security

116,096

86,679

Other creditors

73,994

28,721

1,080,322

895,088

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Finance leases

1,280

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

38,010

84,145

Bank loans

-

31,935

Finance leases

16,115

2,714

54,125

118,794

10.

RESERVES

Revaluation

reserve

£

At 1 January 2018

122,724

Other movements

(229

)

At 31 December 2018

122,495

11.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet is £61,554

(2017 - £116,962)

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 December 2018 and 31 December 2017:

2018

2017

£

£

S Barker

Balance outstanding at start of year

53

595

Amounts repaid

-

(542

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

53

53

Miss J E Cooke

Balance outstanding at start of year

705

905

Amounts repaid

-

(200

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

705

705