Wilwright Electrical Contractors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03343487 (England and Wales)

WILWRIGHT ELECTRICAL CONTRACTORS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2020

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

G Wright

C Wilson

M Hamer

SECRETARY:

G Wright

REGISTERED OFFICE:

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

REGISTERED NUMBER:

03343487 (England and Wales)

ACCOUNTANTS:

Hollingsworth & Co Ltd

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

FIXED ASSETS

Intangible assets

3

599,457

666,069

Tangible assets

4

118,170

140,240

717,627

806,309

CURRENT ASSETS

Stocks

308,745

145,547

Debtors

2,722,309

2,215,837

Cash at bank

816,850

1,070,555

3,847,904

3,431,939

CREDITORS

Amounts falling due within one year

1,845,529

1,789,004

NET CURRENT ASSETS

2,002,375

1,642,935

TOTAL ASSETS LESS CURRENT LIABILITIES

2,720,002

2,449,244

PROVISIONS FOR LIABILITIES

15,795

18,711

NET ASSETS

2,704,207

2,430,533

CAPITAL AND RESERVES

Called up share capital

5

120

120

Share premium

6

1,622,540

1,622,540

Retained earnings

6

1,081,547

807,873

SHAREHOLDERS' FUNDS

2,704,207

2,430,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2020 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 29th February 2020 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 and authorised for issue on 10th July 2020 and were signed on its behalf by:

G Wright - Director

C Wilson - Director

1.	STATUTORY INFORMATION

Wilwright Electrical Contractors 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 twenty 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

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

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.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st March 2019

and 29th February 2020

1,332,178

AMORTISATION

At 1st March 2019

666,109

Amortisation for year

66,612

At 29th February 2020

732,721

NET BOOK VALUE

At 29th February 2020

599,457

At 28th February 2019

666,069

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st March 2019

327,051

Additions

28,620

Disposals

(9,592

)

At 29th February 2020

346,079

DEPRECIATION

At 1st March 2019

186,811

Charge for year

42,097

Eliminated on disposal

(999

)

At 29th February 2020

227,909

NET BOOK VALUE

At 29th February 2020

118,170

At 28th February 2019

140,240

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

20

Ordinary

£1

20

20

100

Ordinary B Non Voting

£1

100

100

120

120

6.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1st March 2019

807,873

1,622,540

2,430,413

Profit for the year

902,741

902,741

Dividends

(629,067

)

(629,067

)

At 29th February 2020

1,081,547

1,622,540

2,704,087

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Wilwright Electrical Contractors Ltd for the year ended

29th February 2020 which comprise the Income Statement, Abridged Balance Sheet and the

related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wilwright Electrical Contractors Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wilwright Electrical Contractors Ltd and state those matters that we have agreed to state to the Board of Directors of Wilwright Electrical Contractors Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wilwright Electrical Contractors Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wilwright Electrical Contractors Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wilwright Electrical Contractors Ltd. You consider that Wilwright Electrical Contractors Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wilwright Electrical Contractors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hollingsworth & Co Ltd

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

10th July 2020