Warrington Landscapes Centre Limited - Accounts to registrar (filleted) - small 18.2
Warrington Landscapes Centre Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
FOR |
WARRINGTON LANDSCAPES CENTRE LIMITED |
WARRINGTON LANDSCAPES CENTRE LIMITED (REGISTERED NUMBER: 05543738) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2019 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
WARRINGTON LANDSCAPES CENTRE LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
WARRINGTON LANDSCAPES CENTRE LIMITED (REGISTERED NUMBER: 05543738) |
STATEMENT OF FINANCIAL POSITION |
31 December 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
WARRINGTON LANDSCAPES CENTRE LIMITED (REGISTERED NUMBER: 05543738) |
STATEMENT OF FINANCIAL POSITION - continued |
31 December 2019 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on were signed on its behalf by: |
WARRINGTON LANDSCAPES CENTRE LIMITED (REGISTERED NUMBER: 05543738) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2019 |
1. | STATUTORY INFORMATION |
Warrington Landscapes Centre Limited is a |
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 |
The disclosure requirements of section 1a of FRS 102 have been applied other than where additional disclosure |
is required to show a true and fair view. |
The principal accounting policies adopted in the preparation of the financial statements are set out below. |
The company is dependent on the financial support of its directors. At the balance sheet date amounts due to |
directors totalled £413,260 (2018: £371,143) and would normally be repayable on demand. The directors, |
however, have indicated that repayment will not be demanded until such time that the company's profitability |
and liquidity has improved. On this basis the directors' feel it is appropriate to continue to prepare the accounts |
on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration receivable for the goods sold and is shown net of |
VAT. |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods |
has transferred to the customer, which is usually at the point when the customer receives the goods. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Plant and machinery etc. | - 20% on reducing balance |
10% on cost |
Stocks |
Stocks are valued at the lower of cost and selling price, after making due allowance for obsolete and slow |
moving items. |
WARRINGTON LANDSCAPES CENTRE LIMITED (REGISTERED NUMBER: 05543738) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of |
its financial instruments. The following assets and liabilities are classified as financial instruments; bank |
accounts, trade debtors, trade creditors, accruals, Directors' loan accounts, bank loans and hire purchase |
agreements. |
Financial instruments that are payable or receivable within one year, typically bank accounts, trade creditors, |
accruals, Directors' loan accounts, bank loans and trade debtors, are measured initially and subsequently at the |
undiscounted amount of the cash or other consideration that is expected to be paid or received. |
Financial instruments repayable in more than one year such as hire purchase agreements are initially measured |
at present value of the future payments and subsequently at amortised cost using the effective interest method |
unless the effect of discounting would be immaterial. |
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 |
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their |
estimated useful lives. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. |
The capital element of the future payments is treated as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WARRINGTON LANDSCAPES CENTRE LIMITED (REGISTERED NUMBER: 05543738) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2019 |
Disposals | ( |
) |
At 31 December 2019 |
DEPRECIATION |
At 1 January 2019 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
The net book value of tangible fixed assets includes £ 5,232 (2018 - £ 18,992 ) in respect of assets held under |
hire purchase contracts. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
Hire purchase contracts |
WARRINGTON LANDSCAPES CENTRE LIMITED (REGISTERED NUMBER: 05543738) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2019 | 2018 |
£ | £ |
Bank overdrafts |
Bank loans |
Hire purchase contracts | 4,004 | 7,421 |
9. | RELATED PARTY DISCLOSURES |
Included in creditors is £413,260 (2018: £371,143) due to the directors. This amount is unsecured, there are no |
fixed repayment terms and no interest has been charged. |
The company occupies premises owned by the company's pension scheme. Rent charged during the year was |
£22,000 (2018: £22,000). Included in creditors and accruals is £34,000 (2018: £12,000) due to the pension |
scheme. |