Wooldridge Dairy Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04504359 (England and Wales)

Financial Statements

for the Year Ended 31 July 2021

for

Wooldridge Dairy Services Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs B E M Wooldridge

J F C Tarr

SECRETARY:

Mrs B E M Wooldridge

REGISTERED OFFICE:

Unit 1A Mill Farm

Uley Road

Dursley

Glos

GL11 5AD

REGISTERED NUMBER:

04504359 (England and Wales)

ACCOUNTANTS:

GCSD Accountants Limited

Chartered Accountants

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wooldridge Dairy Services Limited for the year ended 31 July 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wooldridge Dairy Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wooldridge Dairy Services Limited and state those matters that we have agreed to state to the Board of Directors of Wooldridge Dairy Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wooldridge Dairy Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wooldridge Dairy Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wooldridge Dairy Services Limited. You consider that Wooldridge Dairy Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wooldridge Dairy Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GCSD Accountants Limited

Chartered Accountants

9 December 2021

FIXED ASSETS

Intangible assets

4

7,400

11,100

Tangible assets

5

23,750

37,232

31,150

48,332

CURRENT ASSETS

Stocks

45,839

39,195

Debtors

6

170,333

171,182

Cash at bank

159,851

329,723

376,023

540,100

CREDITORS

Amounts falling due within one year

7

266,656

351,439

NET CURRENT ASSETS

109,367

188,661

TOTAL ASSETS LESS CURRENT LIABILITIES

140,517

236,993

CREDITORS

Amounts falling due after more than one year

8

(25,389

)

(32,813

)

PROVISIONS FOR LIABILITIES

(4,387

)

(6,906

)

NET ASSETS

110,741

197,274

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

110,541

197,074

SHAREHOLDERS' FUNDS

110,741

197,274

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 9 December 2021 and were signed on its behalf by:

Mrs B E M Wooldridge - Director

J F C Tarr - Director

1.	STATUTORY INFORMATION

Wooldridge Dairy Services 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, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

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.

Improvements to property

-

2% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks 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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 7 (2020 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 August 2020

and 31 July 2021

45,000

18,500

63,500

AMORTISATION

At 1 August 2020

45,000

7,400

52,400

Charge for year

-

3,700

3,700

At 31 July 2021

45,000

11,100

56,100

NET BOOK VALUE

At 31 July 2021

-

7,400

7,400

At 31 July 2020

-

11,100

11,100

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2020

140,897

Additions

1,711

Disposals

(14,375

)

At 31 July 2021

128,233

DEPRECIATION

At 1 August 2020

103,665

Charge for year

15,193

Eliminated on disposal

(14,375

)

At 31 July 2021

104,483

NET BOOK VALUE

At 31 July 2021

23,750

At 31 July 2020

37,232

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

Plant and

machinery

etc

£

COST

At 1 August 2020

and 31 July 2021

50,217

DEPRECIATION

At 1 August 2020

19,858

Charge for year

12,555

At 31 July 2021

32,413

NET BOOK VALUE

At 31 July 2021

17,804

At 31 July 2020

30,359

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

164,343

165,093

Other debtors

5,990

6,089

170,333

171,182

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Hire purchase contracts (see note 9)

7,811

7,239

Payments on account

42,865

54,703

Trade creditors

64,374

48,761

Taxation and social security

21,476

82,550

Other creditors

130,130

158,186

266,656

351,439

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Hire purchase contracts (see note 9)

25,389

32,813

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2021

2020

£

£

Gross obligations repayable:

Within one year

8,215

8,215

Between one and five years

25,401

33,229

33,616

41,444

Finance charges repayable:

Within one year

404

976

Between one and five years

12

416

416

1,392

Net obligations repayable:

Within one year

7,811

7,239

Between one and five years

25,389

32,813

33,200

40,052

Non-cancellable operating

leases

2021

2020

£

£

Within one year

6,474

9,951

Between one and five years

5,742

12,216

12,216

22,167

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2021 and 31 July 2020:

2021

2020

£

£

J F C Tarr

Balance outstanding at start of year

(37

)

(99

)

Amounts advanced

81,510

15,434

Amounts repaid

(81,392

)

(15,372

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

81

(37

)