LW2013 (Retail) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09962185 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

LW2013 (RETAIL) LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C R Hanks

Mrs M L Hemmings

Mr E R Hemmings

Mr K Phillips

Mr E F Tattam

REGISTERED OFFICE:

Hay Lane Farm

Hay Lane

Horsley

Nailsworth

Gloucestershire

GL6 0QD

REGISTERED NUMBER:

09962185 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Old Station House

Station Approach

Newport Street

Swindon

Wiltshire

SN1 3DU

FIXED ASSETS

Tangible assets

4

1,902

2,439

CURRENT ASSETS

Stocks

211,798

165,981

Debtors

3,213

2,117

Cash at bank and in hand

11,568

30,825

226,579

198,923

CREDITORS

Amounts falling due within one year

278,639

250,967

NET CURRENT LIABILITIES

(52,060

)

(52,044

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,158

)

(49,605

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(50,258

)

(49,705

)

(50,158

)

(49,605

)

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

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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 October 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2020 and were signed on its behalf by:

Mr E R Hemmings - Director

1.	STATUTORY INFORMATION

LW2013 (Retail) 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.

Going concern

The accounts are prepared on a going concern basis. The company is reliant upon the on-going

financial support of the directors who have confirmed their continued support.

The COVID-19 viral pandemic is one of the most significant economic events for the UK with

unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the

potential implications on the company's trade, customers, suppliers and wider economy. The

Directors' view on the impact of COVID-19 is that, given the measures that could be undertaken to

mitigate the current adverse conditions and the current resources available, they can continue to

adopt the going concern basis in preparing the annual report and accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied

and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership

have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be

measured reliably; it is probable that the associated economic benefits will flow to the entity; and

the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract.

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

-

22% on reducing balance

Stocks & work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Costs include all costs of purchase, costs of conversion and other costs incurred in bringing stock to

its present location and condition.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal

level of activity. Provision is made for any foreseeable losses where appropriate. An element of

profit is included where the outcome of the project may reasonably be determined.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 6 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2018

and 31 October 2019

4,739

DEPRECIATION

At 1 November 2018

2,300

Charge for year

537

At 31 October 2019

2,837

NET BOOK VALUE

At 31 October 2019

1,902

At 31 October 2018

2,439

5.	RELATED PARTY DISCLOSURES

The company is controlled by Lady's Wood Shooting School Limited which owns 51% of the

company's ordinary shares.