West Lancashire Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08132710 (England and Wales)

Financial Statements for the Year Ended 30 June 2020

for

West Lancashire Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K J O'Toole

C J Birrell

P R Pendlebury

C K Thelwell

REGISTERED OFFICE:

West Lancs House

Wyrefields

Poulton Business Park

Poulton Le Fylde

Lancashire

FY6 8JX

REGISTERED NUMBER:

08132710 (England and Wales)

ACCOUNTANTS:

ma2 (Blackpool) Limited

288 Church Street

Blackpool

Lancashire

FY1 3QA

FIXED ASSETS

Tangible assets

4

78,875

103,381

CURRENT ASSETS

Stocks

465,947

486,055

Debtors

5

540,447

931,490

Cash at bank and in hand

965,146

1,016,361

1,971,540

2,433,906

CREDITORS

Amounts falling due within one year

6

1,345,897

1,859,869

NET CURRENT ASSETS

625,643

574,037

TOTAL ASSETS LESS CURRENT LIABILITIES

704,518

677,418

CREDITORS

Amounts falling due after more than one year

7

(67,315

)

(24,434

)

PROVISIONS FOR LIABILITIES

8

(14,986

)

(19,459

)

NET ASSETS

622,217

633,525

CAPITAL AND RESERVES

Called up share capital

9

200

100

Retained earnings

622,017

633,425

SHAREHOLDERS' FUNDS

622,217

633,525

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

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

K J O'Toole - Director

C J Birrell - Director

P R Pendlebury - Director

C K Thelwell - Director

1.	STATUTORY INFORMATION

West Lancashire Group Ltd 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 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

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 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 62 (2019 - 49 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2019

42,874

4,464

145,505

20,897

213,740

Additions

-

-

-

795

795

At 30 June 2020

42,874

4,464

145,505

21,692

214,535

DEPRECIATION

At 1 July 2019

31,021

1,441

69,522

8,375

110,359

Charge for year

2,371

605

18,996

3,329

25,301

At 30 June 2020

33,392

2,046

88,518

11,704

135,660

NET BOOK VALUE

At 30 June 2020

9,482

2,418

56,987

9,988

78,875

At 30 June 2019

11,853

3,023

75,983

12,522

103,381

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

Motor

vehicles

£

COST

At 1 July 2019

and 30 June 2020

65,000

DEPRECIATION

At 1 July 2019

25,323

Charge for year

9,931

At 30 June 2020

35,254

NET BOOK VALUE

At 30 June 2020

29,746

At 30 June 2019

39,677

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

427,396

920,163

Other debtors

105,209

-

Prepayments

7,842

11,327

540,447

931,490

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Hire purchase contracts

5,754

5,086

Trade creditors

1,042,403

1,650,364

Tax

43,281

66,082

Social security and other taxes

184,907

60,528

Pension

6,386

2,782

VAT

34,557

43,901

Accrued expenses

28,609

31,126

1,345,897

1,859,869

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.20

30.6.19

£

£

Bank loans - 2-5 years

50,000

-

Hire purchase contracts

17,315

24,434

67,315

24,434

8.	PROVISIONS FOR LIABILITIES

30.6.20

30.6.19

£

£

Deferred tax

14,986

19,459

Deferred

tax

£

Balance at 1 July 2019

19,459

Provided during year

(4,473

)

Balance at 30 June 2020

14,986

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.20

30.6.19

value:

£

£

200

Ordinary A

£1

200

80

NIL

Ordinary C

£1

-

20

200

100

The company's Articles of Association (as adopted by Special Resolution passed on 1st August 2013) state

that the "A" shares "B" shares and "C" shares shall be deemed to represent separate classes of shares for such purposes as are specifically provided for in those articles.