WR Motors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08133081 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2018

for

WR Motors Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S E Richards

Mrs L B Richards

R A Williams

Mrs L M Williams

REGISTERED OFFICE:

Unit 1 Vernon Drive

Battlefield Enterprise Park

Shrewsbury

Shropshire

SY1 3TF

REGISTERED NUMBER:

08133081 (England and Wales)

ACCOUNTANTS:

Caerwyn Jones

Chartered Accountants

Emstrey House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

BANKERS:

HSBC Bank Plc

Princess House

33 High Street

Shrewsbury

Shropshire

SY1 1SL

FIXED ASSETS

Intangible assets

4

26,939

33,674

Property, plant and equipment

5

18,368

22,157

45,307

55,831

CURRENT ASSETS

Inventories

3,376

3,343

Debtors

6

24,919

18,727

28,295

22,070

CREDITORS

Amounts falling due within one year

7

70,365

72,187

NET CURRENT LIABILITIES

(42,070

)

(50,117

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,237

5,714

CREDITORS

Amounts falling due after more than one year

8

2,500

4,040

NET ASSETS

737

1,674

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

637

1,574

SHAREHOLDERS' FUNDS

737

1,674

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.

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 14 May 2019 and were signed on its behalf by:

Mrs L M Williams - Director

1.	STATUTORY INFORMATION

WR Motors 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

Revenue 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 2012, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

Stocks

Inventories 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 5 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2017

and 30 September 2018

67,344

AMORTISATION

At 1 October 2017

33,670

Charge for year

6,735

At 30 September 2018

40,405

NET BOOK VALUE

At 30 September 2018

26,939

At 30 September 2017

33,674

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2017

32,731

6,897

7,200

46,828

Additions

280

903

-

1,183

Disposals

-

-

(600

)

(600

)

At 30 September 2018

33,011

7,800

6,600

47,411

DEPRECIATION

At 1 October 2017

19,480

2,325

2,866

24,671

Charge for year

3,325

457

1,048

4,830

Eliminated on disposal

-

-

(458

)

(458

)

At 30 September 2018

22,805

2,782

3,456

29,043

NET BOOK VALUE

At 30 September 2018

10,206

5,018

3,144

18,368

At 30 September 2017

13,251

4,572

4,334

22,157

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

11,026

16,801

Other debtors

13,893

1,926

24,919

18,727

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

25,085

29,585

Hire purchase contracts

1,680

1,680

Trade creditors

19,140

18,131

Taxation and social security

15,713

12,776

Other creditors

8,747

10,015

70,365

72,187

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

2,500

4,040

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £35,000 (2017 - £26,000) were paid to the directors .

Included in debtors falling due within one year are amounts totalling £11,336 due from the directors of

the company, these amounts are repayable on demand. During the year no interest was paid on the

balance

During the year the company paid £9,000 (2017 £9,000) for rental of property to R A Williams and S E

Richards, directors of the company.