Westway Paving Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10953043 (England and Wales)

WESTWAY PAVING LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

8 SEPTEMBER 2017 TO 30 SEPTEMBER 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

T West

A T West

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

Northamptonshire

NN2 7AZ

REGISTERED NUMBER:

10953043 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Intangible assets

3

701,566

Tangible assets

4

65,253

766,819

CURRENT ASSETS

Debtors

5

85,472

Cash at bank

442,100

527,572

CREDITORS

Amounts falling due within one year

6

1,062,026

NET CURRENT LIABILITIES

(534,454

)

TOTAL ASSETS LESS CURRENT LIABILITIES

232,365

PROVISIONS FOR LIABILITIES

3,870

NET ASSETS

228,495

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

228,395

SHAREHOLDERS' FUNDS

228,495

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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

The financial statements were approved by the Board of Directors on 18 April 2019 and were signed on its behalf by:

T West - Director

1.	STATUTORY INFORMATION

Westway Paving Ltd 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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Motor vehicles

-

20% on reducing balance

Taxation

Taxation for the period 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 period 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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

876,957

At 30 September 2018

876,957

AMORTISATION

Charge for period

175,391

At 30 September 2018

175,391

NET BOOK VALUE

At 30 September 2018

701,566

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

81,615

Disposals

(2,695

)

At 30 September 2018

78,920

DEPRECIATION

Charge for period

14,116

Eliminated on disposal

(449

)

At 30 September 2018

13,667

NET BOOK VALUE

At 30 September 2018

65,253

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

76,698

Other debtors

8,774

85,472

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

1,894

Corporation tax

92,629

Other creditors

17,912

Directors' current accounts

949,591

1,062,026

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1.00

100

100 Ordinary shares of £1.00 were issued during the period for cash of £ 100 .