P.D. & L.F. Whitaker Supermarkets Limite - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02279312 (England and Wales)

P.D. & L.F. WHITAKER SUPERMARKETS

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

5TH JANUARY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P D Whitaker

Mrs L F Whitaker

SECRETARY:

Mrs L F Whitaker

REGISTERED OFFICE:

Hall Farm

Front Street, Laxton

Goole

East Yorkshire

DN14 7TS

REGISTERED NUMBER:

02279312 (England and Wales)

ACCOUNTANTS:

KTC

Chartered Certified Accountants

80 West View

Barlby Road

Selby

North Yorkshire

YO8 5BD

BANKERS:

Barclays Bank plc

Parliament Street

York

North Yorkshire

YO1 1XD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

19,834

25,833

19,834

25,833

CURRENT ASSETS

Stocks

6

37,755

32,739

Debtors

7

11,631

19,358

Cash at bank and in hand

304,590

264,746

353,976

316,843

CREDITORS

Amounts falling due within one year

8

(123,829

)

(97,822

)

NET CURRENT ASSETS

230,147

219,021

TOTAL ASSETS LESS CURRENT LIABILITIES

249,981

244,854

PROVISIONS FOR LIABILITIES

(2,927

)

(3,882

)

NET ASSETS

247,054

240,972

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

246,954

240,872

SHAREHOLDERS' FUNDS

247,054

240,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th January 2019 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 26th April 2019 and were signed on its behalf by:

Mr P D Whitaker - Director

1.	STATUTORY INFORMATION

P.D. & L.F. Whitaker Supermarkets 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.

Fixtures & equipment

-

20% on reducing balance

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 Profit and loss account, 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.

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 23 (2018 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Although the value of Intangible assets is shown as nil, the directors are of the view that the value of

Goodwill in the business is substantial. The cost price (which has been amortised) was £46,000

but the true value is considered to be much higher.

5.	TANGIBLE FIXED ASSETS

Fixtures

& equipment

£

COST

At 6th January 2018

63,589

Additions

264

Disposals

(3,370

)

At 5th January 2019

60,483

DEPRECIATION

At 6th January 2018

37,756

Charge for year

5,222

Eliminated on disposal

(2,329

)

At 5th January 2019

40,649

NET BOOK VALUE

At 5th January 2019

19,834

At 5th January 2018

25,833

6.

STOCKS

2019

2018

£

£

Stocks

37,755

32,739

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

108

6,536

Other debtors

11,523

12,822

11,631

19,358

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

81,184

59,796

Taxation and social security

33,269

30,235

Other creditors

9,376

7,791

123,829

97,822

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

28,687

26,000

Between one and five years

22,187

45,500

50,874

71,500