WR Motors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08133081 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

WR Motors Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S E Richards

Mrs L B Richards

R A Williams

Mrs L M Williams

REGISTERED OFFICE:

Unit 1 Vernon Drive

Battlefield Enterprise Park

Shrewsbury

Shropshire

SY1 3TF

REGISTERED NUMBER:

08133081 (England and Wales)

ACCOUNTANTS:

Caerwyn Jones

Chartered Accountants

Emstrey House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

BANKERS:

HSBC Bank Plc

Princess House

33 High Street

Shrewsbury

Shropshire

SY1 1SL

FIXED ASSETS

Intangible assets

4

20,205

26,939

Property, plant and equipment

5

14,607

18,368

34,812

45,307

CURRENT ASSETS

Inventories

3,068

3,376

Debtors

6

39,997

24,919

43,065

28,295

CREDITORS

Amounts falling due within one year

7

76,570

70,365

NET CURRENT LIABILITIES

(33,505

)

(42,070

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,307

3,237

CREDITORS

Amounts falling due after more than one year

8

820

2,500

NET ASSETS

487

737

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

387

637

SHAREHOLDERS' FUNDS

487

737

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 and authorised for issue on 15 June 2020 and were signed on its behalf by:

Mrs L M Williams - Director

1.	STATUTORY INFORMATION

WR Motors 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

Revenue 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 2012, 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.

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

Stocks

Inventories 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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

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 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

67,344

AMORTISATION

At 1 October 2018

40,405

Charge for year

6,734

At 30 September 2019

47,139

NET BOOK VALUE

At 30 September 2019

20,205

At 30 September 2018

26,939

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2018

33,011

7,800

6,600

47,411

Additions

-

-

1,500

1,500

Disposals

-

-

(3,600

)

(3,600

)

At 30 September 2019

33,011

7,800

4,500

45,311

DEPRECIATION

At 1 October 2018

22,805

2,782

3,456

29,043

Charge for year

2,551

501

437

3,489

Eliminated on disposal

-

-

(1,828

)

(1,828

)

At 30 September 2019

25,356

3,283

2,065

30,704

NET BOOK VALUE

At 30 September 2019

7,655

4,517

2,435

14,607

At 30 September 2018

10,206

5,018

3,144

18,368

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

15,917

11,026

Other debtors

24,080

13,893

39,997

24,919

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

28,923

25,085

Hire purchase contracts

1,680

1,680

Trade creditors

25,363

19,140

Taxation and social security

11,625

15,713

Other creditors

8,979

8,747

76,570

70,365

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

820

2,500

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £27,600 (2018 - £35,000) were paid to the directors .

Included in debtors falling due within one year are amounts totalling £16,797 (2018 £11,336) due from the

directors of the company, these amounts are repayable on demand. During the year no interest was paid

on the balance

During the year the company paid £9,000 (2018 £9,000) for rental of property to R A Williams and S E

Richards, directors of the company.