Northern & Central Wigan Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00991433 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2020

FOR

NORTHERN & CENTRAL WIGAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D J Farrimond

Mrs P Farrimond

Mr D B Farrimond

SECRETARY:

Mr D J Farrimond

REGISTERED OFFICE:

2nd Floor, Boulton House

17-21 Chorlton Street

Manchester

M1 3HY

REGISTERED NUMBER:

00991433 (England and Wales)

ACCOUNTANTS:

Connaughton & Co

2nd Floor, Boulton House

17-21 Chorlton Street

Manchester

M1 3HY

BANKERS:

National Westminster Bank PLC

PO Box 65

2 Chestergate

Macclesfield

SK11 6BS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

213,012

36,027

213,012

36,027

CURRENT ASSETS

Stocks

6

214,359

224,497

Debtors

7

433,079

345,743

Cash at bank and in hand

172,245

386,648

819,683

956,888

CREDITORS

Amounts falling due within one year

8

329,825

349,285

NET CURRENT ASSETS

489,858

607,603

TOTAL ASSETS LESS CURRENT LIABILITIES

702,870

643,630

PROVISIONS FOR LIABILITIES

9

6,413

5,653

NET ASSETS

696,457

637,977

CAPITAL AND RESERVES

Called up share capital

10

62,000

62,000

Retained earnings

11

634,457

575,977

SHAREHOLDERS' FUNDS

696,457

637,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

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

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 13 October 2020 and were signed on its behalf by:

Mr D B Farrimond - Director

1.	STATUTORY INFORMATION

Northern & Central Wigan 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 2007, 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.

Long leasehold

-

2% on cost

Leasehold improvements

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks 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 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

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 8 (2019 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2019

and 31 January 2020

58,000

AMORTISATION

At 1 February 2019

and 31 January 2020

58,000

NET BOOK VALUE

At 31 January 2020

-

At 31 January 2019

-

5.	TANGIBLE FIXED ASSETS

Long

Leasehold

Plant and

leasehold

improvements

machinery

£

£

£

COST

Additions

174,397

2,520

4,100

Disposals

-

-

-

At 31 January 2020

174,397

2,520

4,100

DEPRECIATION

At 1 February 2019

-

-

-

Charge for year

3,488

50

1,025

Eliminated on disposal

-

-

-

At 31 January 2020

3,488

50

1,025

NET BOOK VALUE

At 31 January 2020

170,909

2,470

3,075

At 31 January 2019

-

-

-

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2019

99,447

77,318

54,463

231,228

Additions

-

20,500

-

201,517

Disposals

-

(19,500

)

-

(19,500

)

At 31 January 2020

99,447

78,318

54,463

413,245

DEPRECIATION

At 1 February 2019

96,117

49,884

49,200

195,201

Charge for year

500

9,926

1,316

16,305

Eliminated on disposal

-

(11,273

)

-

(11,273

)

At 31 January 2020

96,617

48,537

50,516

200,233

NET BOOK VALUE

At 31 January 2020

2,830

29,781

3,947

213,012

At 31 January 2019

3,330

27,434

5,263

36,027

6.

STOCKS

31.1.20

31.1.19

£

£

Stocks

214,359

224,497

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

375,353

296,094

Associated companies

20,411

2,329

Prepayments and accrued income

37,315

47,320

433,079

345,743

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade creditors

195,596

160,314

Corporation tax

1,751

6,575

Social security

4,151

4,018

VAT

14,294

12,986

Other creditors

996

-

Parent company

92,722

142,466

Associated companies

11,703

5,277

Accruals and deferred income

8,612

17,649

329,825

349,285

9.	PROVISIONS FOR LIABILITIES

31.1.20

31.1.19

£

£

Deferred tax

6,413

5,653

Deferred

tax

£

Balance at 1 February 2019

5,653

Accelerated capital allowances

760

Balance at 31 January 2020

6,413

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

60,000

Ordinary

£1

60,000

60,000

2,000

Preference

£1

2,000

2,000

62,000

62,000

11.

RESERVES

Retained

earnings

£

At 1 February 2019

575,977

Profit for the year

58,480

At 31 January 2020

634,457

12.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of its parent company, N&C Group UK Ltd. Transactions have taken place with the group companies listed below:

NAME

RELATIONSHIP

N&C Group UK Ltd

Parent company

Northern & Central Buxton Limited

Fellow subsidiary

Northern & Central Macclesfield Limited

Fellow subsidiary

Northern & Central Ormskirk Limited

Fellow subsidiary

Consultancy fees of £66,000 (2019 - £116,000) were paid to N&C Group UK Ltd during the year. The other aggregated transactions which are considered to be material and which have not been disclosed elsewhere in the financial statements amounted to:

Sales

Purchases

2020

2019

2020

2019

£

£

£

£

Northern & Central Buxton Limited

(792

)

5,944

14,357

12,063

Northern & Central Macclesfield Limited

2,449

6,176

33,952

45,306

Northern & Central Ormskirk Limited

28,614

21,977

32,905

28,479

30,271

34,097

81,214

85,848

The above transactions were all performed at cost.

Amounts due to the ultimate parent company and amounts due from and to fellow subsidiaries are disclosed in notes 7 and 8 of these financial statements.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is N&C Group UK Ltd.

The ultimate controlling party is Mr D B Farrimond.