H. Gwyther & Son Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00748220 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

H. GWYTHER & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S.H. Gwyther

Mrs P Middleton

SECRETARY:

REGISTERED OFFICE:

33 Church Street

Bishops Castle

Shropshire

SY9 5AD

REGISTERED NUMBER:

00748220 (England and Wales)

ACCOUNTANTS:

Baker & Co.

Chartered Certified Accountants

Arran House

42 Gravel Hill

Ludlow

Shropshire

SY8 1QR

FIXED ASSETS

Tangible assets

4

94,131

101,042

Investment property

5

320,667

320,667

414,798

421,709

CURRENT ASSETS

Stocks

85,482

78,403

Debtors

6

4,636

71,737

Cash in hand

467

1,060

90,585

151,200

CREDITORS

Amounts falling due within one year

7

38,912

69,291

NET CURRENT ASSETS

51,673

81,909

TOTAL ASSETS LESS CURRENT LIABILITIES

466,471

503,618

CREDITORS

Amounts falling due after more than one year

8

(95,830

)

(106,716

)

PROVISIONS FOR LIABILITIES

(38,529

)

(38,970

)

NET ASSETS

332,112

357,932

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Fair value reserve

9

394,435

394,435

Retained earnings

(67,323

)

(41,503

)

332,112

357,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 August 2019 and were signed on its behalf by:

Mrs P Middleton - Director

1.	STATUTORY INFORMATION

H. Gwyther & Son 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 as modified by the revaluation of certain assets.

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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

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 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.

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 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 February 2018

and 31 January 2019

120,000

48,789

6,896

175,685

DEPRECIATION

At 1 February 2018

25,100

43,165

6,378

74,643

Charge for year

5,933

848

130

6,911

At 31 January 2019

31,033

44,013

6,508

81,554

NET BOOK VALUE

At 31 January 2019

88,967

4,776

388

94,131

At 31 January 2018

94,900

5,624

518

101,042

Cost or valuation at 31 January 2019 is represented by:

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

Cost

120,000

48,789

6,896

175,685

If land and buildings had not been revalued they would have been included at the following historical

cost:

2019

2018

£

£

Cost

16,223

16,223

Aggregate depreciation

1,950

1,775

Value of land in freehold land and buildings

14,273

14,448

Land and buildings were valued on an open market basis on 20 February 2017 by Halls Estate Agents

.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2018

and 31 January 2019

325,000

DEPRECIATION

At 1 February 2018

and 31 January 2019

4,333

NET BOOK VALUE

At 31 January 2019

320,667

At 31 January 2018

320,667

If Investment property had not been revalued it would have been included at the following historic

cost:

2019 2018

£ £

Cost 5000 5000

==== ====

Investment property was valued on an open market value on 27 February 2017 by Halls Estate Agents.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

4,600

433

Other debtors

36

71,304

4,636

71,737

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

21,598

28,517

Trade creditors

4,804

3,399

Taxation and social security

4,047

29,319

Other creditors

8,463

8,056

38,912

69,291

The bank loan and overdraft are secured by a fixed and floating charge over all assets by a Debenture

given by the Company in favour of HSBC Bank plc on 25 November 2013.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

95,830

103,254

Other creditors

-

3,462

95,830

106,716

9.

RESERVES

Fair

value

reserve

£

At 1 February 2018

and 31 January 2019

394,435

10.	POST BALANCE SHEET EVENT

A decision was made since the year end to close the trading activity of the Company. In the opinion

of the directors the sale of the stock and trading assets should at least realise the values stated in the

Balance Sheet at the year end.