Allan Webb Limited - Period Ending 2019-06-30

Registration number: 01780818

Allan Webb Limited

Annual Report and Financial Statements

for the Year Ended 30 June 2019

Chhaya Hare Wilson Limited
Chartered Certified Accountants and Statutory Auditors
 Uxbridge Road
Hillingdon Heath
Hillingdon
Middlesex
UB10 0LY

Allan Webb Limited

Contents

Company Information	1
Directors' Report	2
Statement of Directors' Responsibilities	3
Independent Auditor's Report	4 to 6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10 to 11
Notes to the Financial Statements	12 to 22

Allan Webb Limited

Company Information

Directors

J C Hardcastle S M Rigsby M W Copp R J Lipington R A Webb E M Webb M R Lewis G D Jones I J Hayes

Company secretary

R A Webb

Registered office

Grebe Lodge Riversdale Bourne End Buckinghamshire SL8 5EB

Auditors

Chhaya Hare Wilson Limited Chartered Certified Accountants and Statutory Auditors  Uxbridge Road Hillingdon Heath Hillingdon Middlesex UB10 0LY

Page 1

Allan Webb Limited

Directors' Report for the Year Ended 30 June 2019

The directors present their report and the financial statements for the year ended 30 June 2019.

Directors of the company

The directors who held office during the year were as follows:

J C Hardcastle

S M Rigsby

R J Lipington

R A Webb

E M Webb

M R Lewis

G D Jones

I J Hayes

The following director was appointed after the year end:

M W Copp (appointed 1 July 2019)

Principal activity

The principal activity of the company is compilation, processing and publishing of commercial and technical data and documents

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Chhaya Hare Wilson Limited as auditors of the company is to be proposed at the forthcoming Annual General Meeting.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 30 October 2019 and signed on its behalf by:

.........................................
J C Hardcastle
Director

Page 2

Allan Webb Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

Allan Webb Limited

Independent Auditor's Report to the Members of Allan Webb Limited

Opinion

We have audited the financial statements of Allan Webb Limited (the 'company') for the year ended 30 June 2019, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 30 June 2019 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

•	the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
•	the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Page 4

Allan Webb Limited

Independent Auditor's Report to the Members of Allan Webb Limited

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors’ remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit; or
•	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 3], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Page 5

Allan Webb Limited

Independent Auditor's Report to the Members of Allan Webb Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

......................................
Chhotalal Meghji Chhaya (Senior Statutory Auditor)
For and on behalf of Chhaya Hare Wilson Limited, Statutory Auditor
Uxbridge Road
Hillingdon Heath
Hillingdon
Middlesex
UB10 0LY

30 October 2019

Page 6

Allan Webb Limited

Profit and Loss Account for the Year Ended 30 June 2019

	Note	2019 £	2018 £
Turnover		9,994,402	6,584,181
Cost of sales		(7,159,510)	(5,108,546)
Gross profit		2,834,892	1,475,635
Distribution costs		(164,620)	(120,249)
Administrative expenses		(1,232,746)	(1,034,680)
Other operating income		28,145	38,300
Operating profit		1,465,671	359,006
Income from shares in group undertakings		82,992	49,412
Other interest receivable and similar income		63,401	55,046
Amounts written off investments		(265,810)	-
		(119,417)	104,458
Profit before tax	6	1,346,254	463,464
Taxation		(127,795)	19,283
Profit for the financial year		1,218,459	482,747

The above results were derived from continuing operations.

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 7

Allan Webb Limited

Statement of Comprehensive Income for the Year Ended 30 June 2019

	2019 £	2018 £
Profit for the year	1,218,459	482,747
Surplus/(deficit) on revaluation of other assets	14,151	38,692
Total comprehensive income for the year	1,232,610	521,439

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 8

Allan Webb Limited

(Registration number: 01780818)
Balance Sheet as at 30 June 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	7	206,568	211,664
Investments	8	-	211,560
Other financial assets	9	1,103,767	1,134,063
		1,310,335	1,557,287
Current assets
Stocks	11	685	725
Debtors	12	2,589,450	1,118,353
Cash at bank and in hand		1,135,543	178,716
		3,725,678	1,297,794
Creditors: Amounts falling due within one year	13	(2,237,823)	(1,012,416)
Net current assets		1,487,855	285,378
Total assets less current liabilities		2,798,190	1,842,665
Provisions for liabilities		(35,615)	(6,071)
Net assets		2,762,575	1,836,594
Capital and reserves
Called up share capital	14	1,191	1,088
Share premium reserve		232,349	65,912
Revaluation reserve		14,151	38,692
Profit and loss account		2,514,884	1,730,902
Total equity		2,762,575	1,836,594

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 October 2019 and signed on its behalf by:
 

.........................................

S M Rigsby
Director

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 9

Allan Webb Limited

Statement of Changes in Equity for the Year Ended 30 June 2019

	Share capital £	Share premium £	Revaluation reserve £	Profit and loss account £
At 1 July 2018	1,088	65,912	38,692	1,730,902
Prior period adjustment	-	-	(38,692)	-
At 1 July 2018 (As restated)	1,088	65,912	-	1,730,902
Profit for the year	-	-	-	1,218,459
Other comprehensive income	-	-	14,151	-
Total comprehensive income	-	-	14,151	1,218,459
Dividends	-	-	-	(434,477)
New share capital subscribed	103	166,437	-	-
At 30 June 2019	1,191	232,349	14,151	2,514,884

	Total £
At 1 July 2018	1,836,594
Prior period adjustment	(38,692)
At 1 July 2018 (As restated)	1,797,902
Profit for the year	1,218,459
Other comprehensive income	14,151
Total comprehensive income	1,232,610
Dividends	(434,477)
New share capital subscribed	166,540
At 30 June 2019	2,762,575

	Share capital £	Share premium £	Revaluation reserve £	Profit and loss account £
At 1 July 2017	1,088	65,912	43,875	1,688,142
Prior period adjustment	-	-	(43,875)	-
At 1 July 2017 (As restated)	1,088	65,912	-	1,688,142
Profit for the year	-	-	-	482,747
Other comprehensive income	-	-	38,692	-
Total comprehensive income	-	-	38,692	482,747
Dividends	-	-	-	(439,987)
At 30 June 2018	1,088	65,912	38,692	1,730,902

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 10

Allan Webb Limited

Statement of Changes in Equity for the Year Ended 30 June 2019

	Total £
At 1 July 2017	1,799,017
Prior period adjustment	(43,875)
At 1 July 2017 (As restated)	1,755,142
Profit for the year	482,747
Other comprehensive income	38,692
Total comprehensive income	521,439
Dividends	(439,987)
At 30 June 2018	1,836,594

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 11

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Grebe Lodge
Riversdale
Bourne End
Buckinghamshire
SL8 5EB

These financial statements were authorised for issue by the Board on 30 October 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 12

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and equipment	20% on cost
Motor vehicles	25% on cost

Impairment of fixed assets

At each reporting date fixed assets are reviewed to determine whether there is an indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected assets is estimated and compared with the carrying value. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the assets in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 13

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets , financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 
 

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Page 14

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 130 (2018 - 111).

3.1	Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	2019  £	2018  £
Wages and salaries	6,199,196	3,997,412
Other short-term employee benefits	6,624	5,125
Pension costs, defined contribution scheme	152,991	107,445
	6,358,811	4,109,982

4	Directors' remuneration

The directors' remuneration for the year was as follows:

	2019  £	2018  £
Remuneration	580,667	484,463
Contributions paid to money purchase schemes	50,206	56,400
	630,873	540,863

5	Auditors' remuneration

	2019 £	2018 £
Audit of the financial statements	6,036	5,640

 

6	Profit before tax

Arrived at after charging/(crediting)

	2019 £	2018 £
Depreciation expense	80,195	75,665
Income from shares in group undertakings	(82,992)	(49,412)

Page 15

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

7	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2018	717,251	44,939	762,190
Additions	75,098	-	75,098
Disposals	(71,505)	(15,818)	(87,323)
At 30 June 2019	720,844	29,121	749,965
Depreciation
At 1 July 2018	507,522	43,004	550,526
Charge for the year	78,259	1,935	80,194
Eliminated on disposal	(71,505)	(15,818)	(87,323)
At 30 June 2019	514,276	29,121	543,397
Carrying amount
At 30 June 2019	206,568	-	206,568
At 30 June 2018	209,729	1,935	211,664

8	Investments

	2019 £	2018 £
Investments in subsidiaries	-	211,560

Subsidiaries	£
Cost or valuation
At 1 July 2018	211,560
Additions	54,250
Written off in the year	(265,810)
At 30 June 2019	-
Provision
Carrying amount
At 30 June 2019	-
At 30 June 2018	211,560

Page 16

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2019	2018

Subsidiary undertakings
Through Life Support Limited	Red Lodge, Bonds Mill, Stonehouse, Gloucestershire	Ordinary	100%	80%
	England

The principal activity of Through Life Support Limited is Support to the technical data industry

The profit for the financial period of Through Life Support Limited was £- and the aggregate amount of capital and reserves at the end of the period was £10.

The investment in Through Life Support Limited was written off in the year and the company ceased trading on 1 December 2018.

9	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 July 2018	1,086,296	1,086,296
Fair value adjustments	17,471	17,471
At 30 June 2019	1,103,767	1,103,767
Impairment
At 1 July 2018	47,767	47,767
FA inv - listed other shs provision in previous year written back	(47,767)	(47,767)
At 30 June 2019	-	-
Carrying amount
At 30 June 2019	1,103,767	1,103,767

Page 17

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

10

Taxation

Tax charged/(credited) in the income statement

	2019  £	2018  £
Current taxation
UK corporation tax	92,496	(442)
Deferred taxation
Arising from origination and reversal of timing differences	35,299	(18,841)
Tax expense/(receipt) in the income statement	127,795	(19,283)

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2018 - higher than the standard rate of corporation tax in the UK) of 19% (2018 - 19%).

The differences are reconciled below:

	2019  £	2018  £
Profit before tax	1,346,254	463,464
Corporation tax at standard rate	255,788	88,058
Effect of expense not deductible in determining taxable profit (tax loss)	50,504	-
Effect of tax losses	(34,830)	29,240
Tax increase (decrease) from effect of capital allowances and depreciation	(468)	(8,602)
Tax increase (decrease) from other short-term timing differences	35,299	(18,841)
Tax increase (decrease) arising from group relief	-	10,122
Tax increase (decrease) from effect of dividends from UK companies	(26,971)	(19,819)
Tax increase (decrease) from effect of adjustment in research and development tax credit	(151,527)	(98,998)
Other tax effects for reconciliation between accounting profit and tax expense (income)	-	(443)
Total tax charge/(credit)	127,795	(19,283)

Tax relating to items recognised in other comprehensive income or equity

	2019  £	2018  £
Deferred tax related to items recognised as items of other comprehensive income	3,320	9,075

11

Stocks

	2019 £	2018 £
Other inventories	685	725

Page 18

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

12

Debtors

	Note	2019 £	2018 £
Trade debtors		1,664,608	998,911
Amounts owed from Vine Leisure Limited	18	750,477	-
Prepayments		169,058	97,743
Other debtors		5,307	21,699
		2,589,450	1,118,353

13

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Trade creditors		432,206	133,221
Amounts owed to group undertakings and undertakings in which the company has a participating interest	18	-	72,409
Taxation and social security		570,145	377,593
Accruals and deferred income		1,124,432	417,355
Other creditors		111,040	11,838
		2,237,823	1,012,416

14	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary of £0.10 each	11,910	1,191.00	10,880	1,088.00

On 5 September 2018, a further 1,030 ordinary shares of £0.10p were allotted , increasing the company's share capital to 11,990 ordinary shares of £0.10p.

15	Deferred tax and other provisions

Page 19

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

	Deferred tax £	Total £
At 1 July 2018	6,071	6,071
Additional provisions	38,619	38,619
Unused provision reversed	(9,075)	(9,075)
At 30 June 2019	35,615	35,615

16

Dividends

		2019		2018
		£		£
Interim dividend of £36.48 (2018 - £40.44) per ordinary share		434,477		439,987

17	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2019 £	2018 £
Not later than one year	105,577	93,672
Later than one year and not later than five years	310,595	84,544
	416,172	178,216

18	Related party transactions

During the year, the company paid rent of £72,536 (2018 - £72,536), £58,029 of which was paid to R A Webb, a director and one of his associates .

In the year , the company paid professional fees for accounting services of £10,415 (2018 - £13,260) to R A Webb , a director of the company.

In the year, the company paid professional fees of £2,775 (2018 - £Nil) to E Webb, a director of the company.

Directors' remuneration

The directors' remuneration for the year was as follows:

Page 20

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

	2019 £	2018 £
Remuneration	580,667	484,463
Contributions paid to money purchase schemes	50,206	56,400
	630,873	540,863

Page 21

Allan Webb Limited

Notes to the Financial Statements for the Year Ended 30 June 2019

Dividends paid to directors

	2019 £	2018 £
R A Webb
	135,414	150,113
E M Webb
	8,755	9,706
J C Hardcastle
	44,506	49,337
G Jones
	26,266	29,117
S M Rigsby
	40,128	29,117
M R Lewis
	26,266	29,117
R J Lipington
	10,944	-

Summary of transactions with subsidiaries

In the financial year, there were the following intercompany transactions between Allan Webb Limited and Through Life Support Limited, an 100% (2018 - 80%) owned subsidiary. Through Life Support Limited ceased trading on 1 December 2018

Management charges received from Through Life Support Limited £Nil (2018 - £12,000).

Purchases from Through Life Support Limited £Nil (2018 - £288,371).

Sales to Through Life Support Limited - £Nil (2018 - £30,571).

Dividends received from Through Life Support Limited £82,992 (2018 - £49,412)

The balance owing to Through Life Support Limited at 30 June 2019 was £Nil (2018 - £72,409).

The investment in Through Life Support Limited of £265,810 was written off in the year.
 

19	Ultimate controlling party

In the opinion of the directors, there were no ultimate controlling party for the current year and the previous year.

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