Ward & Co (Building Conservation) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04017012 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

Ward & Co.

(Building Conservation) Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J D Ward

P Turnham

SECRETARY:

J D Ward

REGISTERED OFFICE:

The Chapel

London Road

Brimscombe

Stroud

Gloucestershire

GL5 2SA

REGISTERED NUMBER:

04017012 (England and Wales)

ACCOUNTANTS:

GCSD Accountants Limited

Chartered Accountants

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

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 Balance Sheet. 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 Ward & Co. (Building Conservation) Limited for the year ended

31 March 2019 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Ward & Co. (Building Conservation) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ward & Co. (Building Conservation) Limited and state those matters that we have agreed to state to the Board of Directors of Ward & Co. (Building Conservation) 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 Ward & Co. (Building Conservation) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ward & Co. (Building Conservation) 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 Ward & Co. (Building Conservation) Limited. You consider that Ward & Co. (Building Conservation) 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 Ward & Co. (Building Conservation) 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.

GCSD Accountants Limited

Chartered Accountants

20 December 2019

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

84,188

90,578

Investment property

6

608,000

519,956

692,188

610,534

CURRENT ASSETS

Stocks

1,522

1,665

Debtors

7

645,659

758,531

Cash at bank and in hand

199,024

164,725

846,205

924,921

CREDITORS

Amounts falling due within one year

8

275,669

182,874

NET CURRENT ASSETS

570,536

742,047

TOTAL ASSETS LESS CURRENT LIABILITIES

1,262,724

1,352,581

PROVISIONS FOR LIABILITIES

-

13,376

NET ASSETS

1,262,724

1,339,205

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

10

-

45,819

Retained earnings -

Undistributable

(101,586

)

-

Retained earnings -

distributable

1,364,308

1,293,384

SHAREHOLDERS' FUNDS

1,262,724

1,339,205

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 20 December 2019 and were signed on its behalf by:

J D Ward - Director

1.	STATUTORY INFORMATION

Ward & Co. (Building Conservation) 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been

amortised over its estimated useful life of one year.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

25% on cost, 25% on reducing balance and 4% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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 18 (2018 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

27,761

AMORTISATION

At 1 April 2018

and 31 March 2019

27,761

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

395,446

Additions

30,903

Disposals

(146,935

)

At 31 March 2019

279,414

DEPRECIATION

At 1 April 2018

304,868

Charge for year

31,597

Eliminated on disposal

(141,239

)

At 31 March 2019

195,226

NET BOOK VALUE

At 31 March 2019

84,188

At 31 March 2018

90,578

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

519,956

Additions

224,155

Revaluations

(136,111

)

At 31 March 2019

608,000

NET BOOK VALUE

At 31 March 2019

608,000

At 31 March 2018

519,956

Fair value at 31 March 2019 is represented by:

£

Valuation in 2018

10,696

Valuation in 2019

(136,111

)

Cost

733,415

608,000

The director, Mr J D Ward has reviewed the valuations conducted by Allan Morris & Jones

Commercial on the 28th April 2017 and has concluded that whilst there has been no change in

respect of Unit B, Ryeford the extent of the renovations to 7 Moreland Avenue is such that in total

both properties would achieve a market value of not less than £608,000 as at 31st March 2019.

7.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

185,703

369,520

Other debtors

459,633

388,836

645,336

758,356

2019

2018

£

£

Amounts falling due after more than one year:

Other debtors

323

175

Aggregate amounts

645,659

758,531

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

26,253

61,986

Taxation and social security

73,549

85,945

Other creditors

175,867

34,943

275,669

182,874

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

13,597

13,597

10.

RESERVES

Revaluation

reserve

£

At 1 April 2018

45,819

Fair value on investment

property

(10,696

)

Revaluation transfer

(35,123

)

At 31 March 2019

-

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J D Ward.