Wickstead Developments Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05606268 (England and Wales)

Financial Statements

for the Year Ended 30 April 2020

for

Wickstead Developments Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P A Wickstead

SECRETARY:

Mrs C L Wickstead

REGISTERED OFFICE:

Suite 1 Hulmes Bridge Business Centre

North Moor Lane

Halsall

Ormskirk

Lancashire

L39 8RF

REGISTERED NUMBER:

05606268 (England and Wales)

ACCOUNTANTS:

McDade Roberts Accountants Limited

Chartered Accountants

316 Blackpool Road

Fulwood

Preston

Lancashire

PR2 3AE

FIXED ASSETS

Tangible assets

4

46,028

60,205

CURRENT ASSETS

Stocks

56,493

86,423

Debtors

5

200,804

155,334

Cash at bank

65,640

83,040

322,937

324,797

CREDITORS

Amounts falling due within one year

6

132,594

174,374

NET CURRENT ASSETS

190,343

150,423

TOTAL ASSETS LESS CURRENT LIABILITIES

236,371

210,628

CREDITORS

Amounts falling due after more than one year

7

-

(18,074

)

PROVISIONS FOR LIABILITIES

(8,745

)

(11,439

)

NET ASSETS

227,626

181,115

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

227,526

181,015

SHAREHOLDERS' FUNDS

227,626

181,115

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 13 January 2021 and were signed by:

Mr P A Wickstead - Director

1.	STATUTORY INFORMATION

Wickstead Developments 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.

Going Concern

Covid-19-on 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic.

The accounts have been prepared on a going concern basis as although there are indicators of financial impact in relation to COVID-19 the directors have taken what are considered all necessary measures to protect the business from this to limit any adverse impact.

The Directors anticipate the company continuing to trade for the foreseeable future and are monitoring the situation.

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts, and adjusted for work in progress.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Office equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Contracts with less than 12 months to completion at the year end are accounted for in line with SSAP 9 (i.e. accounted for as long term contracts if they are sufficiently material to the period and not to record turnover and attributable profit would lead to a distortion of the period's turnover and results). Contracts with greater than 12 months to completion are accounted for by only recognising any profit if the outcome can be foreseen with reasonable certainty. Full provision is made for any anticipated losses that are foreseen.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 9 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

Motor

Computer

machinery

equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2019

and 30 April 2020

87,944

16,312

135,315

1,307

240,878

DEPRECIATION

At 1 May 2019

72,484

14,095

92,800

1,294

180,673

Charge for year

3,091

444

10,629

13

14,177

At 30 April 2020

75,575

14,539

103,429

1,307

194,850

NET BOOK VALUE

At 30 April 2020

12,369

1,773

31,886

-

46,028

At 30 April 2019

15,460

2,217

42,515

13

60,205

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2019

and 30 April 2020

87,629

DEPRECIATION

At 1 May 2019

54,979

Charge for year

10,629

At 30 April 2020

65,608

NET BOOK VALUE

At 30 April 2020

22,021

At 30 April 2019

32,650

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

13,713

20,490

Other debtors

187,091

134,844

200,804

155,334

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Hire purchase contracts

18,074

19,717

Trade creditors

61,575

107,163

Taxation and social security

48,167

44,318

Other creditors

4,778

3,176

132,594

174,374

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Hire purchase contracts

-

18,074

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director, Mr P A Wickstead owed £135,143 (2019- £99,898) to the company on 30 April 2020. No interest were charged on this outstanding..