PWIDF Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04034925 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2018

for

PWIDF Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P A White

Mrs S M White

REGISTERED OFFICE:

Unit 15 Usk Side Business Park

Uskway

Newport

NP20 2BW

REGISTERED NUMBER:

04034925 (England and Wales)

ACCOUNTANTS:

Marsh Vision Limited

Chartered Certified Accountants

Chester House

17 Gold Tops

Newport

SOUTH WALES

NP20 4PH

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

75,060

44,639

75,060

44,639

CURRENT ASSETS

Inventories

140,000

135,000

Debtors

6

281,610

321,217

Cash at bank and in hand

85,510

98,498

507,120

554,715

CREDITORS

Amounts falling due within one year

7

177,423

255,140

NET CURRENT ASSETS

329,697

299,575

TOTAL ASSETS LESS CURRENT LIABILITIES

404,757

344,214

PROVISIONS FOR LIABILITIES

8

3,846

4,219

NET ASSETS

400,911

339,995

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

400,811

339,895

SHAREHOLDERS' FUNDS

400,911

339,995

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 24 August 2019 and were signed on its behalf by:

Mrs S M White - Director

1.	STATUTORY INFORMATION

PWIDF 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

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 was fully written off in the profit and loss in the year of acquisition.

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 useful economic

life.

Plant & equipment 15% Reducing balance

Fixtures & fittings 15% Reducing balance

Motor vehicles 20% 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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual

arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost.

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

deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value of the future payments discounted at a market

rate of interest for a similar debt instrument.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2017

and 30 November 2018

1,000

AMORTISATION

At 1 December 2017

and 30 November 2018

1,000

NET BOOK VALUE

At 30 November 2018

-

At 30 November 2017

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2017

20,977

69,842

90,819

Additions

-

49,383

49,383

Disposals

-

(15,100

)

(15,100

)

At 30 November 2018

20,977

104,125

125,102

DEPRECIATION

At 1 December 2017

3,958

42,222

46,180

Charge for year

1,049

13,955

15,004

Eliminated on disposal

-

(11,142

)

(11,142

)

At 30 November 2018

5,007

45,035

50,042

NET BOOK VALUE

At 30 November 2018

15,970

59,090

75,060

At 30 November 2017

17,019

27,620

44,639

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

Plant and

machinery

etc

£

COST

At 1 December 2017

13,000

Transfer to ownership

(13,000

)

At 30 November 2018

-

DEPRECIATION

At 1 December 2017

6,344

Transfer to ownership

(6,344

)

At 30 November 2018

-

NET BOOK VALUE

At 30 November 2018

-

At 30 November 2017

6,656

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade debtors

280,110

319,717

Prepayments

1,500

1,500

281,610

321,217

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Hire purchase contracts

-

2,500

Trade creditors

111,155

188,114

Tax

35,789

38,283

Social security and other taxes

3,963

3,516

VAT

25,098

21,480

Other creditors

385

143

Directors' current accounts

333

429

Accrued expenses

700

675

177,423

255,140

8.	PROVISIONS FOR LIABILITIES

30.11.18

30.11.17

£

£

Deferred tax

Accelerated capital allowances

3,846

4,219

Deferred

tax

£

Balance at 1 December 2017

4,219

Credit to Statement of Comprehensive Income during year

(373

)

Balance at 30 November 2018

3,846