J W P & Daughter Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06879936 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2020

for

J W P & Daughter Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Phillips

REGISTERED OFFICE:

Williamston House

7 Goat Street

Haverfordwest

Pembrokeshire

SA61 1PX

REGISTERED NUMBER:

06879936 (England and Wales)

FIXED ASSETS

Tangible assets

4

173,098

152,821

CURRENT ASSETS

Stocks

333,700

286,360

Debtors

49,424

41,263

383,124

327,623

CREDITORS

Amounts falling due within one year

369,773

360,015

NET CURRENT ASSETS/(LIABILITIES)

13,351

(32,392

)

TOTAL ASSETS LESS CURRENT LIABILITIES

186,449

120,429

CREDITORS

Amounts falling due after more than one year

(155,768

)

(123,379

)

PROVISIONS FOR LIABILITIES

(29,955

)

(26,103

)

NET ASSETS/(LIABILITIES)

726

(29,053

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

724

(29,055

)

SHAREHOLDERS' FUNDS

726

(29,053

)

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2020 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 director and authorised for issue on 12 March 2021 and were signed by:

J Phillips - Director

1.	STATUTORY INFORMATION

J W P & Daughter 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

-

15% on reducing balance

Tractor

-

20% on reducing balance

Stocks

Stock and biological assets are included at the lower of cost and estimated selling price less costs to sell.

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 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

Totals

£

COST

At 1 September 2019

231,165

Additions

45,750

At 31 August 2020

276,915

DEPRECIATION

At 1 September 2019

78,344

Charge for year

25,473

At 31 August 2020

103,817

NET BOOK VALUE

At 31 August 2020

173,098

At 31 August 2019

152,821

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.20

31.8.19

£

£

Bank overdrafts

117,858

112,392

Bank loans

103,372

64,656

Hire purchase contracts

121,480

149,500

342,710

326,548