Wiles Contractors Limited - Accounts to registrar (filleted) - small 18.2
Wiles Contractors Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| FOR |
| WILES CONTRACTORS LIMITED |
| WILES CONTRACTORS LIMITED (REGISTERED NUMBER: 05204315) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WILES CONTRACTORS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 61 Station Road |
| Sudbury |
| Suffolk |
| CO10 2SP |
| WILES CONTRACTORS LIMITED (REGISTERED NUMBER: 05204315) |
| BALANCE SHEET |
| 31 OCTOBER 2021 |
| 31.10.20 | 31.10.21 |
| £ | £ | Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| ( |
) | Amounts falling due after more than one year |
7 |
( |
) |
| ( |
) | PROVISIONS FOR LIABILITIES |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | 9 |
| ( |
) | Retained earnings | 9 | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| WILES CONTRACTORS LIMITED (REGISTERED NUMBER: 05204315) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2021 |
| 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 |
| WILES CONTRACTORS LIMITED (REGISTERED NUMBER: 05204315) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 1. | STATUTORY INFORMATION |
| Wiles Contractors Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the value of work completed and invoiced during the year and after taking into account the movement between opening and closing balances regarding work in progress, retentions and trade debtors. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Motor vehicles - 25% on reducing balance |
| Plant and machinery - 15% on reducing balance |
| Office equipment - 15% on reducing balance |
| Stocks |
| Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items where applicable. |
| 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. |
| WILES CONTRACTORS LIMITED (REGISTERED NUMBER: 05204315) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Financial instruments |
| The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statemernts such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts. |
| Going concern |
| The accounts have been prepared on the going concern basis, the validity of which is dependant upon the continued support of the directors. The directors have confirmed their support for a period of at least twelve months from the date of the signing of the financial statements.The going concern basis is therefore considered appropriate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Office |
| Totals | machinery | vehicles | equipment |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 November 2020 |
| Additions |
| At 31 October 2021 |
| DEPRECIATION |
| At 1 November 2020 |
| Charge for year |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| WILES CONTRACTORS LIMITED (REGISTERED NUMBER: 05204315) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31 October 2021 is represented by: |
| Plant and | Motor | Office |
| Totals | machinery | vehicles | equipment |
| £ | £ | £ | £ |
| Valuation in 2020 | 50,416 | 532 | 15,710 | 34,174 |
| Cost | 143,438 | 9,734 | 103,114 | 30,590 |
| 193,854 | 10,266 | 118,824 | 64,764 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST OR VALUATION |
| At 1 November 2020 |
| Additions |
| At 31 October 2021 |
| DEPRECIATION |
| Charge for year |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| WILES CONTRACTORS LIMITED (REGISTERED NUMBER: 05204315) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Lloyds Bank PLC holds a charge over the company's assets dated 11th April 2019. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Other creditors |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.10.21 | 31.10.20 |
| value: | £ | £ |
| Ordinary 'A' | £1 | 100 | 100 |
| Ordinary 'B' | £1 | 21 | 21 |
| 121 | 121 |
| 9. | RESERVES |
| Retained | Revaluation |
| Totals | earnings | reserve |
| £ | £ | £ |
| At 1 November 2020 | 629 | ( |
) |
| Deficit for the year | ( |
) | ( |
) |
| Deferred tax charge in year | 9,579 | - | 9,579 |
| Depreciation charge in year | (9,134 | ) | - | (9,134 | ) |
| At 31 October 2021 | (182,791 | ) | ( |
) |