Webster Buchanan Research Limited Filleted accounts for Companies House (small and micro)
Webster Buchanan Research Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04287748
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FINANCIAL STATEMENTS |
YEAR ENDED 31 DECEMBER 2019
Contents |
Pages |
Balance sheet
1
Notes to the financial statements
2 to 5
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BALANCE SHEET |
2019 |
2018 |
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Note |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Investments |
6 |
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Current assets
Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
(
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(
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Net current (liabilities)/assets |
(
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Total assets less current liabilities |
(
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Net (liabilities)/assets |
(
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Capital and reserves
Called up share capital |
9 |
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Profit and loss account |
(
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Shareholders (deficit)/funds |
(
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Directors' 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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
27 May 2020
, and are signed on behalf of the board by:
Company registration number:
04287748
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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 and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
The company and its subsidiary undertakings represent a small group and group accounts are not required.
Revenue recognition
Foreign currencies
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2018:
1
).
5.
Tangible assets
Office equipment |
Total |
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£ |
£ |
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Cost |
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At 1 January 2019 and 31 December 2019 |
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Depreciation |
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At 1 January 2019 |
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Charge for the year |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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6.
Investments
Shares in group undertakings |
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£ |
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Cost |
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At 1 January 2019 and 31 December 2019 |
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Impairment |
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At 1 January 2019 and 31 December 2019 |
– |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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The company's investments in its subsidiary undertakings represent cost of acquisition of the whole of the ordinary share capital of Webster Buchanan Research Inc, registered in the USA.
The directors do not consider that any impairment provision is required to reduce the cost of investments to net realisable value.
7.
Debtors
2019 |
2018 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
– |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2019 |
2018 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings |
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– |
Accruals and deferred income |
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Social security and other taxes |
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Director loan accounts |
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9.
Called up share capital
Issued, called up and fully paid
2019 |
2018 |
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No. |
£ |
No. |
£ |
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100.00 |
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100.00 |
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10.
Related party transactions
The directors' loan accounts of £22,930 (2018: £14,617) set out above were unsecured, repayable on demand and currently interest-free. Control of the company During the year the company was controlled by Mr
K D J Rodgers
, a director, who with his family, hold 80% of the issued ordinary share capital.
11.
Going concern
Certain directors and group companies have confirmed that they will procure adequate working capital to enable the company to continue trading until at least 31 March 2021. Consequently, the accounts have been prepared on a going concern basis.