Worcester Compressors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10809528 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2020

for

Worcester Compressors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M A Smith

Mrs J V Smith

SECRETARY:

REGISTERED OFFICE:

Unit 14

Elgar Business Centre

Moseley Road

Hallow

Worcestershire

WR2 6NJ

REGISTERED NUMBER:

10809528 (England and Wales)

ACCOUNTANTS:

SW&A Accountants

Unit 7 Ball Mill Top

Main Road

Hallow

Worcester

Worcestershire

FIXED ASSETS

Tangible assets

4

39,369

27,402

CURRENT ASSETS

Stocks

75,465

64,847

Debtors

5

18,575

4,939

Cash at bank

46,314

37,242

140,354

107,028

CREDITORS

Amounts falling due within one year

6

129,906

101,457

NET CURRENT ASSETS

10,448

5,571

TOTAL ASSETS LESS CURRENT LIABILITIES

49,817

32,973

PROVISIONS FOR LIABILITIES

5,413

-

NET ASSETS

44,404

32,973

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

44,354

32,923

44,404

32,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 18 November 2020 and were signed on its behalf by:

Mr M A Smith - Director

1.	STATUTORY INFORMATION

Worcester Compressors 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.

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.

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

-

33% on cost, 25% on reducing balance, 20% on reducing balance, 10% on reducing balance and not provided

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2019

31,406

Additions

17,554

At 30 June 2020

48,960

DEPRECIATION

At 1 July 2019

4,004

Charge for year

5,587

At 30 June 2020

9,591

NET BOOK VALUE

At 30 June 2020

39,369

At 30 June 2019

27,402

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

14,298

2,000

Other debtors

4,277

2,939

18,575

4,939

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade creditors

639

1

Taxation and social security

1,651

787

Other creditors

127,616

100,669

129,906

101,457