Wallpaper Printworks Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07036326 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2019

FOR

WALLPAPER PRINTWORKS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTORS:

Mr D M Kay

Mrs E M Hendi

SECRETARY:

Mrs E M Hendi

REGISTERED OFFICE:

3 Chapel Street

Lytham

Lancashire

FY8 5ND

REGISTERED NUMBER:

07036326 (England and Wales)

ACCOUNTANTS:

Bishops

Chartered Accountants

Phoenix Park

Blakewater Road

Blackburn

Lancashire

BB1 5BG

BANKERS:

HSBC

Oxford Square

1 Newhouse Road

Blackpool

Lancashire

FY4 4YH

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Wallpaper Printworks Limited for the year ended 31 January 2019 which comprise

the Income Statement, Statement of Financial Position and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wallpaper Printworks Limited, as a body, in accordance with the terms of our engagement letter dated 20 October 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Wallpaper Printworks Limited and state those matters that we have agreed to state to the Board of Directors of Wallpaper Printworks Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wallpaper Printworks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wallpaper Printworks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wallpaper Printworks Limited. You consider that Wallpaper Printworks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wallpaper Printworks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bishops

Chartered Accountants

Phoenix Park

Blakewater Road

Blackburn

Lancashire

BB1 5BG

29 October 2019

FIXED ASSETS

Property, plant and equipment

4

5,310

6,568

CURRENT ASSETS

Inventories

52,104

48,213

Debtors

5

8,318

4,891

Cash at bank and in hand

16,698

15,412

77,120

68,516

CREDITORS

Amounts falling due within one year

6

59,421

63,601

NET CURRENT ASSETS

17,699

4,915

TOTAL ASSETS LESS CURRENT LIABILITIES

23,009

11,483

PROVISIONS FOR LIABILITIES

469

1,083

NET ASSETS

22,540

10,400

CAPITAL AND RESERVES

Called up share capital

7

10

10

Retained earnings

8

22,530

10,390

SHAREHOLDERS' FUNDS

22,540

10,400

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 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 Board of Directors on 29 October 2019 and were signed on its behalf by:

Mr D M Kay - Director

1.	STATUTORY INFORMATION

Wallpaper Printworks 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.

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

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 February 2018

and 31 January 2019

17,996

1,192

19,188

DEPRECIATION

At 1 February 2018

12,227

393

12,620

Charge for year

865

393

1,258

At 31 January 2019

13,092

786

13,878

NET BOOK VALUE

At 31 January 2019

4,904

406

5,310

At 31 January 2018

5,769

799

6,568

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

8,078

4,651

Other debtors

240

240

8,318

4,891

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

31,321

25,290

Taxation and social security

24,807

35,896

Other creditors

3,293

2,415

59,421

63,601

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

10

Ordinary

£1

10

10

8.

RESERVES

Retained

earnings

£

At 1 February 2018

10,390

Profit for the year

34,640

Dividends

(22,500

)

At 31 January 2019

22,530