Aspinall Wright Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08148203 (England and Wales)

Aspinall Wright Limited

Unaudited Financial Statements

for the Year Ended 31 July 2019

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

P M Aspinall

P Bunting

A M Wright

Ms D Kelly

Registered office:

Notary House

65 High Street West

Glossop

Derbyshire

SK13 8AZ

Registered number:

08148203 (England and Wales)

Accountants:

Warr & Co Limited

Chartered Accountants

76 Manchester Rd

Denton

Manchester

M34 3PS

Fixed assets

Intangible assets

4

34,167

44,167

Tangible assets

5

14,549

2,975

48,716

47,142

Current assets

Stocks

82,000

84,000

Debtors

6

54,189

62,052

Cash at bank and in hand

157,895

97,661

294,084

243,713

Creditors

Amounts falling due within one year

7

(152,512

)

(145,622

)

Net current assets

141,572

98,091

Total assets less current liabilities

190,288

145,233

Creditors

Amounts falling due after more than one year

8

-

(264

)

Provisions for liabilities

(2,247

)

-

Net assets

188,041

144,969

Capital and reserves

Called up share capital

103

103

Retained earnings

187,938

144,866

Shareholders' funds

188,041

144,969

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 9 April 2020 and were signed on its behalf by:

A M Wright - Director

1.	Statutory information

Aspinall Wright 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.

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 2013, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

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 21 (2018 - 19 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 August 2018

and 31 July 2019

100,000

Amortisation

At 1 August 2018

55,833

Charge for year

10,000

At 31 July 2019

65,833

Net book value

At 31 July 2019

34,167

At 31 July 2018

44,167

5.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 August 2018

19,110

Additions

18,323

At 31 July 2019

37,433

Depreciation

At 1 August 2018

16,135

Charge for year

6,749

At 31 July 2019

22,884

Net book value

At 31 July 2019

14,549

At 31 July 2018

2,975

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

Cost

At 1 August 2018

5,288

Additions

535

At 31 July 2019

5,823

Depreciation

At 1 August 2018

2,314

Charge for year

878

At 31 July 2019

3,192

Net book value

At 31 July 2019

2,631

At 31 July 2018

2,974

6.

Debtors: amounts falling due within one year

31.7.19

31.7.18

£

£

Trade debtors

39,886

25,272

Other debtors

14,303

36,780

54,189

62,052

7.

Creditors: amounts falling due within one year

31.7.19

31.7.18

£

£

Hire purchase contracts

264

1,586

Taxation and social security

87,848

75,678

Other creditors

64,400

68,358

152,512

145,622

8.

Creditors: amounts falling due after more than one year

31.7.19

31.7.18

£

£

Hire purchase contracts

-

264

9.	Other financial commitments

At the end of the year the company had total commitments under operating leases expiring between

one and five years of £17,728.