Wold Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04604753 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2019

for

Wold Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Drury

SECRETARY:

Mrs V Drury

REGISTERED OFFICE:

The Smithy

High Street

Lincoln

Lincolnshire

LN8 6BH

REGISTERED NUMBER:

04604753 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,616

2,154

1,616

2,154

CURRENT ASSETS

Debtors

6

5,644

5,174

Cash at bank

6,776

7,364

12,420

12,538

CREDITORS

Amounts falling due within one year

7

3,274

3,819

NET CURRENT ASSETS

9,146

8,719

TOTAL ASSETS LESS CURRENT LIABILITIES

10,762

10,873

PROVISIONS FOR LIABILITIES

307

412

NET ASSETS

10,455

10,461

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

455

461

10,455

10,461

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 director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 7 September 2019 and were signed by:

J Drury - Director

1.	STATUTORY INFORMATION

Wold Homes 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 comprises revenue recognised by the company is respect of goods and services supplied

during the year, exclusive of Value Added Tax and trade discounts

Goodwill

Goodwill is the difference between the amounts paid and the acquisition of a business and the fair

value of the identifiable assets and liabilities. It was amortised to the profit and loss account over its

estimated useful economic life.

Amortisation was provided at the following rates

Goodwill - 10% straight line

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2018

30,000

Disposals

(30,000

)

At 31 January 2019

-

AMORTISATION

At 1 February 2018

30,000

Eliminated on disposal

(30,000

)

At 31 January 2019

-

NET BOOK VALUE

At 31 January 2019

-

At 31 January 2018

-

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 February 2018

and 31 January 2019

2,350

DEPRECIATION

At 1 February 2018

196

Charge for year

538

At 31 January 2019

734

NET BOOK VALUE

At 31 January 2019

1,616

At 31 January 2018

2,154

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

175

(1

)

Directors' loan accounts

5,280

4,956

Prepayments

189

219

5,644

5,174

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Tax

1,864

1,348

VAT

-

1,361

Accrued expenses

1,410

1,110

3,274

3,819

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, Mr J Drury, a director of the company, had a balance owing to the company

of £5,280 (2018: £4,956).

9.	ULTIMATE CONTROLLING PARTY

The company is owned and controlled by the director who owns and controls the entire issued share

capital of the company.