Willis Publicity (Harpenden) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03448035 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th September 2020

for

Willis Publicity (Harpenden) Limited

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

4

Directors:

C F Andrews

R C Ellis

J Rushton

Ms P Ellis

Secretary:

Ms P Ellis

Registered office:

2 Allied Business Centre

Coldharbour Lane

Harpenden

Hertfordshire

AL5 4UT

Registered number:

03448035 (England and Wales)

Accountants:

Cooper Paul

Abacus House

14-18 Forest Road

Loughton

Essex

IG10 1DX

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

1,791,846

1,766,234

Investment property

6

255,000

255,000

2,046,846

2,021,234

Current assets

Stocks

226,657

336,822

Debtors

7

799,331

1,626,818

Cash at bank and in hand

139,497

12,585

1,165,485

1,976,225

Creditors

Amounts falling due within one year

8

(637,231

)

(1,322,876

)

Net current assets

528,254

653,349

Total assets less current liabilities

2,575,100

2,674,583

Creditors

Amounts falling due after more than one year

9

(338,763

)

(400,488

)

Provisions for liabilities

(140,755

)

(138,909

)

Net assets

2,095,582

2,135,186

Capital and reserves

Called up share capital

114,400

114,400

Share premium

41,600

41,600

Revaluation reserve

10

81,512

81,512

Retained earnings

1,858,070

1,897,674

Shareholders' funds

2,095,582

2,135,186

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 16th June 2021 and were signed on its behalf by:

Ms P Ellis - Director

1.	Statutory information

Willis Publicity (Harpenden) 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.

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 25 (2019 - 25 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1st October 2019

and 30th September 2020

199,724

Amortisation

At 1st October 2019

and 30th September 2020

199,724

Net book value

At 30th September 2020

-

At 30th September 2019

-

5.	Tangible fixed assets

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

Cost

At 1st October 2019

1,309,838

1,399,461

103,530

2,812,829

Additions

-

128,764

12,496

141,260

At 30th September 2020

1,309,838

1,528,225

116,026

2,954,089

Depreciation

At 1st October 2019

-

984,008

62,587

1,046,595

Charge for year

-

108,653

6,995

115,648

At 30th September 2020

-

1,092,661

69,582

1,162,243

Net book value

At 30th September 2020

1,309,838

435,564

46,444

1,791,846

At 30th September 2019

1,309,838

415,453

40,943

1,766,234

6.	Investment property

Total

£

Cost

At 1st October 2019

and 30th September 2020

255,000

Net book value

At 30th September 2020

255,000

At 30th September 2019

255,000

The 2020 valuations were made by the directors, on an open market value for existing use basis.

7.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

762,928

1,406,878

Amounts owed by participating interests

13,000

65,000

Other debtors

23,403

154,940

799,331

1,626,818

8.

Creditors: amounts falling due within one year

2020

2019

£

£

Bank loans and overdrafts

59,749

363,735

Hire purchase contracts

-

25,625

Trade creditors

173,515

376,922

Taxation and social security

163,859

242,762

Other creditors

240,108

313,832

637,231

1,322,876

9.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Bank loans

338,763

375,005

Hire purchase contracts

-

25,483

338,763

400,488

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

338,763

375,005

10.

Reserves

Revaluation

reserve

£

At 1st October 2019

and 30th September 2020

81,512