Woodward Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03297090 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

WOODWARD ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R H E Woodward

Mrs K M Woodward

SECRETARY:

R H E Woodward

REGISTERED OFFICE:

Sir Henry Darville House

8-10 William Street

Windsor

SL4 1BA

REGISTERED NUMBER:

03297090 (England and Wales)

ACCOUNTANTS:

Fraser CGA Winchester

Luccam House

Church Lane

Twyford

Winchester

Hampshire

SO21 1NT

FIXED ASSETS

Tangible assets

4

372,197

316,006

CURRENT ASSETS

Debtors

5

835,853

529,307

Cash at bank

789,000

932,372

1,624,853

1,461,679

CREDITORS

Amounts falling due within one year

6

(686,904

)

(624,004

)

NET CURRENT ASSETS

937,949

837,675

TOTAL ASSETS LESS CURRENT LIABILITIES

1,310,146

1,153,681

CAPITAL AND RESERVES

Called up share capital

106

106

Retained earnings

1,310,040

1,153,575

1,310,146

1,153,681

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 15 December 2020 and were signed on its behalf by:

R H E Woodward - Director

1.	STATUTORY INFORMATION

Woodward Associates 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.

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

-

33.33% straight line and 25% on reducing balance

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 12 (2019 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2019

310,644

52,525

363,169

Additions

56,829

3,085

59,914

At 31 March 2020

367,473

55,610

423,083

DEPRECIATION

At 1 April 2019

-

47,163

47,163

Charge for year

-

3,723

3,723

At 31 March 2020

-

50,886

50,886

NET BOOK VALUE

At 31 March 2020

367,473

4,724

372,197

At 31 March 2019

310,644

5,362

316,006

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

647,200

438,489

Other debtors

188,653

90,818

835,853

529,307

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

215,484

186,714

Other creditors

471,420

437,290

686,904

624,004