L A Wipers Limited - Accounts to registrar (filleted) - small 18.2

L A WIPERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Cree

Mrs R L Cree

REGISTERED OFFICE:

Grove Mills

High Street

Heckmondwike

WF16 0AD

REGISTERED NUMBER:

04988885 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Chartered Accountants

Fairfax House

6a Mill Field Road

Cottingley Business Park

Bradford

West Yorkshire

BD16 1PY

FIXED ASSETS

Tangible assets

4

13,172

13,247

CURRENT ASSETS

Stocks

39,350

40,540

Debtors

5

99,636

70,996

Cash at bank and in hand

1,515

10,537

140,501

122,073

CREDITORS

Amounts falling due within one year

6

100,806

67,045

NET CURRENT ASSETS

39,695

55,028

TOTAL ASSETS LESS CURRENT LIABILITIES

52,867

68,275

CREDITORS

Amounts falling due after more than one year

7

(44,692

)

(55,000

)

PROVISIONS FOR LIABILITIES

8

(2,218

)

(2,170

)

NET ASSETS

5,957

11,105

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

5,857

11,005

SHAREHOLDERS' FUNDS

5,957

11,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2022 and were signed on its behalf by:

S P Cree - Director

1.	STATUTORY INFORMATION

L A Wipers 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.

In accordance with Section 444 of the Companies Act 2006, the Directors Report has not been delivered.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 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.

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 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2021

35,863

2,900

14,220

1,333

54,316

Additions

4,120

-

-

316

4,436

At 31 December 2021

39,983

2,900

14,220

1,649

58,752

DEPRECIATION

At 1 January 2021

23,424

2,694

13,619

1,332

41,069

Charge for year

4,140

31

150

190

4,511

At 31 December 2021

27,564

2,725

13,769

1,522

45,580

NET BOOK VALUE

At 31 December 2021

12,419

175

451

127

13,172

At 31 December 2020

12,439

206

601

1

13,247

The net book value of tangible fixed assets includes £ 8,305 (2020 - £ 11,074 ) in respect of assets held under hire purchase contracts or finance leases.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

86,204

70,121

Other debtors

12,551

-

Prepayments

881

875

99,636

70,996

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

33,445

5,833

Trade creditors

50,955

40,488

Tax

2,966

662

Social security and other taxes

539

832

VAT

7,585

13,456

Other creditors

599

36

Directors' current accounts

601

1,472

Accrued expenses

4,116

4,266

100,806

67,045

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans - 1-2 years

6,389

10,000

Bank loans - 2-5 years

11,111

10,833

Bank loans more 5 yr by instal

27,192

34,167

44,692

55,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

27,192

34,167

8.	PROVISIONS FOR LIABILITIES

31.12.21

31.12.20

£

£

Deferred tax

2,218

2,170

Deferred

tax

£

Balance at 1 January 2021

2,170

Accelerated capital allowances

48

Balance at 31 December 2021

2,218

The entire provision of deferred tax is relating to accelerated capital allowances.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary

1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loans from directors are interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The Director is the ultimate controlling party due to holding 100% of the issued share capital.