Ware Heating & Bathroom Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02215627 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

Ware Heating and Bathroom Supplies

Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M R Nicholls

Mrs D B Nicholls

SECRETARY:

Mrs D B Nicholls

REGISTERED OFFICE:

17-20 Crane Mead Business Park

Crane Mead

Ware

Hertfordshire

SG12 9PZ

REGISTERED NUMBER:

02215627 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

28 Church Road

Stanmore

Middlesex

HA7 4XR

FIXED ASSETS

Property, plant and equipment

4

70,171

23,358

CURRENT ASSETS

Inventories

643,156

495,494

Debtors

5

485,550

632,287

Cash at bank and in hand

971,955

969,596

2,100,661

2,097,377

CREDITORS

Amounts falling due within one year

6

655,986

737,882

NET CURRENT ASSETS

1,444,675

1,359,495

TOTAL ASSETS LESS CURRENT LIABILITIES

1,514,846

1,382,853

PROVISIONS FOR LIABILITIES

12,133

2,975

NET ASSETS

1,502,713

1,379,878

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,502,613

1,379,778

SHAREHOLDERS' FUNDS

1,502,713

1,379,878

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 15 November 2019 and were signed on its behalf by:

M R Nicholls - Director

1.	STATUTORY INFORMATION

Ware Heating and Bathroom Supplies 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

have remained unchanged from the previous year/period, and also have been consistently applied within the

same accounts.

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.

Short leasehold

-

straight line over the life of the lease

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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 28 (2018 - 26 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Short

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

10,109

9,629

87,406

2,318

109,462

Additions

-

24,328

33,884

1,530

59,742

Disposals

-

-

(20,231

)

(2,318

)

(22,549

)

At 31 March 2019

10,109

33,957

101,059

1,530

146,655

DEPRECIATION

At 1 April 2018

4,044

3,375

76,367

2,318

86,104

Charge for year

2,022

3,775

5,926

42

11,765

Eliminated on disposal

-

-

(19,067

)

(2,318

)

(21,385

)

At 31 March 2019

6,066

7,150

63,226

42

76,484

NET BOOK VALUE

At 31 March 2019

4,043

26,807

37,833

1,488

70,171

At 31 March 2018

6,065

6,254

11,039

-

23,358

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

388,372

310,314

Other debtors

-

242,000

Prepayments and accrued income

97,178

79,973

485,550

632,287

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

442,221

445,935

Tax

36,604

54,759

Social security and other taxes

21,361

12,098

VAT

2,343

22,188

Other creditors

-

114,001

Directors' current accounts

53,559

27,840

Accruals and deferred income

99,898

61,061

655,986

737,882