Sheldon Wilcox (Ottways) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08741270 (England and Wales)

Financial Statements for the Year Ended 31 October 2020

for

Sheldon Wilcox (Ottways) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountant

6

DIRECTORS:

S L Sheldon

W T Wilcox

SECRETARY:

REGISTERED OFFICE:

The Old Dairy

Grove Road

Ashtead

Surrey

KT21 1BE

REGISTERED NUMBER:

08741270 (England and Wales)

ACCOUNTANT:

Marden & Co Accountants Limited

45 Nork Way

Banstead

Surrey

SM7 1PB

FIXED ASSETS

Tangible assets

4

457,251

CURRENT ASSETS

Stocks

870,043

Debtors

5

169,593

1,039,636

CREDITORS

Amounts falling due within one year

6

1,335,687

NET CURRENT LIABILITIES

(296,051

)

TOTAL ASSETS LESS CURRENT LIABILITIES

161,200

CREDITORS

Amounts falling due after more than one year

7

41,667

NET ASSETS

119,533

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

119,433

SHAREHOLDERS' FUNDS

119,533

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 30 July 2021 and were signed on its behalf by:

S L Sheldon - Director

W T Wilcox - Director

1.	STATUTORY INFORMATION

Sheldon Wilcox (Ottways) 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 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.

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 NIL.

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 November 2019

1,270,142

Disposals

(812,891

)

At 31 October 2020

457,251

NET BOOK VALUE

At 31 October 2020

457,251

At 31 October 2019

1,270,142

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by associates

165,387

VAT

4,206

169,593

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

904,939

Other loans

352,913

Trade creditors

49,898

Amounts owed to associates

207

Tax

10,941

Social security and other taxes

13,289

Accrued expenses

3,500

1,335,687

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans - 1-2 years

8,333

Bank loans - 2-5 years

33,334

41,667

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2020 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

Marden & Co Accountants Limited

45 Nork Way

Banstead

Surrey

SM7 1PB

30 July 2021