Avery Naylor Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06088927 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

FOR

AVERY NAYLOR LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss L Edmonds

Miss J Taylor

Miss L E A Jones

Miss S C A Jones

SECRETARY:

Miss L Edmonds

REGISTERED OFFICE:

35 Walter Road

Swansea

SA1 5NW

REGISTERED NUMBER:

06088927 (England and Wales)

ACCOUNTANTS:

Clay Shaw Butler

Chartered Accountants

24 Lammas Street

Carmarthen

Carmarthenshire

SA31 3AL

FIXED ASSETS

Intangible assets

4

-

30,000

Tangible assets

5

2,762

3,573

2,762

33,573

CURRENT ASSETS

Debtors

894,487

869,467

Cash at bank and in hand

368,265

370,187

1,262,752

1,239,654

CREDITORS

Amounts falling due within one year

114,459

93,644

NET CURRENT ASSETS

1,148,293

1,146,010

TOTAL ASSETS LESS CURRENT LIABILITIES

1,151,055

1,179,583

CREDITORS

Amounts falling due after more than one year

6

(54,415

)

(72,946

)

PROVISIONS FOR LIABILITIES

(297

)

(697

)

NET ASSETS

1,096,343

1,105,940

CAPITAL AND RESERVES

Called up share capital

612

606

Retained earnings

1,095,731

1,105,334

SHAREHOLDERS' FUNDS

1,096,343

1,105,940

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 January 2020 and were signed on its behalf by:

Miss L Edmonds - Director

Miss L E A Jones - Director

Miss S C A Jones - Director

Miss J Taylor - Director

1.	STATUTORY INFORMATION

Avery Naylor Ltd 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

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 2009, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33.33% on cost

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.

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 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2018

and 31 May 2019

300,000

AMORTISATION

At 1 June 2018

270,000

Amortisation for year

30,000

At 31 May 2019

300,000

NET BOOK VALUE

At 31 May 2019

-

At 31 May 2018

30,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2018

122,563

Additions

1,200

At 31 May 2019

123,763

DEPRECIATION

At 1 June 2018

118,990

Charge for year

2,011

At 31 May 2019

121,001

NET BOOK VALUE

At 31 May 2019

2,762

At 31 May 2018

3,573

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.5.19

31.5.18

£

£

Repayable by instalments

Bank loans more 5 yr by instalments

-

3,482

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.19

31.5.18

£

£

Bank loans

72,364

90,312

Debenture dated 19 June 2009. Fixed and floating charge over the undertaking and all property and assets

present and future.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2019 and

31 May 2018:

31.5.19

31.5.18

£

£

Miss L Edmonds

Balance outstanding at start of year

(175

)

(41

)

Amounts advanced

11,902

5,721

Amounts repaid

(7,049

)

(5,855

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,678

(175

)

9.	ULTIMATE CONTROLLING PARTY

During the year, there was no ultimate controlling party.