C E Walton & Co.Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00859614 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

C E WALTON & CO.LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S P Doherty

REGISTERED OFFICE:

Unit 21 Coles Hill Trading Estate

Station Road

Coles Hill

Warwickshire

B46 1JP

REGISTERED NUMBER:

00859614 (England and Wales)

ACCOUNTANTS:

S Burgess & Co Ltd

11 Slayleigh Avenue

Sheffield

South Yorkshire

S10 3RA

FIXED ASSETS

Intangible assets

4

46,743

62,324

Tangible assets

5

195,492

208,881

242,235

271,205

CURRENT ASSETS

Debtors

6

126,792

160,264

Cash at bank

196,853

135,853

323,645

296,117

CREDITORS

Amounts falling due within one year

7

137,079

148,715

NET CURRENT ASSETS

186,566

147,402

TOTAL ASSETS LESS CURRENT LIABILITIES

428,801

418,607

CREDITORS

Amounts falling due after more than one year

8

(7,372

)

(27,870

)

PROVISIONS FOR LIABILITIES

9

(33,725

)

(35,000

)

NET ASSETS

387,704

355,737

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

386,704

354,737

SHAREHOLDERS' FUNDS

387,704

355,737

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 director acknowledges his 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 director on 16 April 2019 and were signed by:

S P Doherty - Director

1.	STATUTORY INFORMATION

C E Walton & 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 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 significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover comprises the net invoiced value of drain repair and drain cleaning work, excluding value

added tax, and is recognised upon the completion of the work.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

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.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

Debtors and creditors due within one year

Debtors and creditors with no stated interest rate, which are due within one year, are stated at the

transaction price. Any losses arising from impairment are recognised in the statement of

comprehensive income within administrative expenses.

Impairment

At each balance sheet date, assets are reviewed to determine whether there is any indication that any

of the individual assets have suffered an impairment. If such indication exists, the recoverable amount

of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount.

Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the

statement of comprehensive income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2017 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

155,810

AMORTISATION

At 1 January 2018

93,486

Amortisation for year

15,581

At 31 December 2018

109,067

NET BOOK VALUE

At 31 December 2018

46,743

At 31 December 2017

62,324

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2018

279,581

18,595

324,956

623,132

Additions

5,200

-

36,345

41,545

Disposals

-

-

(64,203

)

(64,203

)

At 31 December 2018

284,781

18,595

297,098

600,474

DEPRECIATION

At 1 January 2018

189,929

13,694

210,628

414,251

Charge for year

9,485

490

35,234

45,209

Eliminated on disposal

-

-

(54,478

)

(54,478

)

At 31 December 2018

199,414

14,184

191,384

404,982

NET BOOK VALUE

At 31 December 2018

85,367

4,411

105,714

195,492

At 31 December 2017

89,652

4,901

114,328

208,881

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2018

131,002

Transfer to ownership

(34,647

)

At 31 December 2018

96,355

DEPRECIATION

At 1 January 2018

58,719

Charge for year

14,891

Transfer to ownership

(21,934

)

At 31 December 2018

51,676

NET BOOK VALUE

At 31 December 2018

44,679

At 31 December 2017

72,283

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

118,247

139,214

Other debtors

1,447

16,390

Prepayments

7,098

4,660

126,792

160,264

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

21,126

32,479

Trade creditors

53,922

36,528

Corporation tax

21,426

15,087

Social security and other taxes

6,710

8,974

VAT

18,893

19,028

Other creditors

2,908

-

Directors' current accounts

-

18,971

Accrued expenses

12,094

17,648

137,079

148,715

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

7,372

27,870

9.	PROVISIONS FOR LIABILITIES

31.12.18

31.12.17

£

£

Deferred taxation

33,725

35,000

Deferred

tax

£

Balance at 1 January 2018

35,000

Accelerated capital allowances

(1,275

)

Balance at 31 December 2018

33,725

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

1,000

Ordinary

£1

1,000

1,000