Warrington Landscapes Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05543738 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

WARRINGTON LANDSCAPES CENTRE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D W Burdett

Mrs K N Burdett

Mrs M Burdett

SECRETARY:

Mrs K N Burdett

REGISTERED OFFICE:

Gatewarth Industrial Estate

Forrest Way

Barnard Street

Warrington

Cheshire

WA5 1DD

REGISTERED NUMBER:

05543738 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

39,240

46,665

CURRENT ASSETS

Stocks

161,683

166,653

Debtors

5

18,348

27,066

Cash in hand

60

60

180,091

193,779

CREDITORS

Amounts falling due within one year

6

505,285

457,916

NET CURRENT LIABILITIES

(325,194

)

(264,137

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(285,954

)

(217,472

)

CREDITORS

Amounts falling due after more than one year

7

18,337

7,421

NET LIABILITIES

(304,291

)

(224,893

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(304,391

)

(224,993

)

SHAREHOLDERS' FUNDS

(304,291

)

(224,893

)

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 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 19 August 2019 and were signed on its behalf by:

D W Burdett - Director

1.	STATUTORY INFORMATION

Warrington Landscapes Centre 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.

The disclosure requirements of section 1a of FRS 102 have been applied other than where additional disclosure

is required to show a true and fair view.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The company is dependent on the financial support of its directors. At the balance sheet date amounts due to

directors totalled £371,143 (2017: £313,087) and would normally be repayable on demand. The directors,

however, have indicated that repayment will not be demanded until such time that the company's profitability and

liquidity has improved. On this basis the directors' feel it is appropriate to continue to prepare the accounts on a

going concern basis.

Turnover

Turnover is measured at the fair value of the consideration receivable for the goods sold and is shown net of

VAT.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods

has transferred to the customer, which is usually at the point when the customer receives the goods.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

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

life.

Plant and machinery etc.

- 20% on reducing balance

10% on cost

Stocks

Stocks are valued at the lower of cost and selling price, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its

financial instruments. The following assets and liabilities are classified as financial instruments; bank accounts,

trade debtors, trade creditors, accruals, Directors' loan accounts, bank loans and hire purchase agreements.

Financial instruments that are payable or receivable within one year, typically bank accounts, trade creditors,

accruals, Directors' loan accounts, bank loans and trade debtors, are measured initially and subsequently at the

undiscounted amount of the cash or other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as hire purchase agreements are initially measured at

present value of the future payments and subsequently at amortised cost using the effective interest method

unless the effect of discounting would be immaterial.

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 are capitalised in the balance sheet and depreciated over their

estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

244,437

Additions

5,514

Disposals

(61,500

)

At 31 December 2018

188,451

DEPRECIATION

At 1 January 2018

197,772

Charge for year

8,705

Eliminated on disposal

(57,266

)

At 31 December 2018

149,211

NET BOOK VALUE

At 31 December 2018

39,240

At 31 December 2017

46,665

The net book value of tangible fixed assets includes £ 18,992 (2017 - £ 22,760 ) in respect of assets held under

hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as restated

£

£

Trade debtors

15,573

23,457

Other debtors

2,775

3,609

18,348

27,066

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as restated

£

£

Bank loans and overdrafts

20,173

8,095

Hire purchase contracts

3,417

7,150

Trade creditors

90,226

110,864

Taxation and social security

13,933

8,080

Other creditors

377,536

323,727

505,285

457,916

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

as restated

£

£

Bank loans

14,333

-

Hire purchase contracts

4,004

7,421

18,337

7,421

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

as restated

£

£

Bank overdrafts

17,623

3,661

Bank loans

16,883

4,434

Hire purchase contracts

7,421

14,571

41,927

22,666

9.	RELATED PARTY DISCLOSURES