Woolgar Electrical Limited 31/12/2019 iXBRL

Woolgar Electrical Limited 31/12/2019 iXBRL

WOOLGAR ELECTRICAL LIMITED - Company Information

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31/12/2019 2019-12-31 false false false false false false false false false true true false false true false false false false false false false false No description of principal activities is disclosed 2019-01-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 10526776 2019-01-01 2019-12-31 10526776 2019-12-31 10526776 bus:Director1 2019-01-01 2019-12-31 10526776 core:ShareCapital 2019-12-31 10526776 bus:SmallEntities 2019-01-01 2019-12-31 10526776 bus:AuditExempt-NoAccountantsReport 2019-01-01 2019-12-31 10526776 bus:FullAccounts 2019-01-01 2019-12-31 10526776 bus:SmallCompaniesRegimeForAccounts 2019-01-01 2019-12-31 10526776 bus:EntityHasNeverTraded 2019-01-01 2019-12-31 10526776 bus:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31
Company registration number: 10526776
Woolgar Electrical Limited
Unaudited filleted financial statements
31 December 2019
Woolgar Electrical Limited
Statement of financial position
31 December 2019
2019
Note £ £
Current assets
Debtors 4 1
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Net current assets 1
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Net assets 1
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Capital and reserves
Called up share capital 1
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Shareholders funds 1
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The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 January 2020 , and are signed on behalf of the board by:
Mr D Robinson
Director
Company registration number: 10526776
Woolgar Electrical Limited
Notes to the financial statements
Year ended 31 December 2019
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 35 Colworth House, Colworth Park, Sharnbrook, Bedford, MK44 1LQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in equity during the current year or prior year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2019
£
Other debtors 1
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