WBD Accountants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05746975 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

WBD ACCOUNTANTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K G Wood

A D Branson

P W Dickinson

SECRETARY:

K G Wood

REGISTERED OFFICE:

Marlbridge House

Enterprise Way

Edenbridge

Kent

TN8 6HF

REGISTERED NUMBER:

05746975 (England and Wales)

FIXED ASSETS

Intangible assets

4

142,500

172,500

Tangible assets

5

16,155

13,058

158,655

185,558

CURRENT ASSETS

Debtors

6

508,569

453,296

Cash at bank

100,752

48,810

609,321

502,106

CREDITORS

Amounts falling due within one year

7

360,488

313,446

NET CURRENT ASSETS

248,833

188,660

TOTAL ASSETS LESS CURRENT LIABILITIES

407,488

374,218

CREDITORS

Amounts falling due after more than one year

8

(308,592

)

(308,592

)

PROVISIONS FOR LIABILITIES

(3,069

)

-

NET ASSETS

95,827

65,626

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

95,737

65,536

SHAREHOLDERS' FUNDS

95,827

65,626

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2021 and were signed on its behalf by:

K G Wood - Director

A D Branson - Director

P W Dickinson - Director

1.	STATUTORY INFORMATION

WBD Accountants 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 2008, and after a review in 2018, is being amortised evenly over its estimated remaining useful life of seven years and nine months.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on reducing balance

Government covid grants

Government covid grants claimed have been accounted for on a received basis.

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

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 13 (2020 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

600,000

AMORTISATION

At 1 April 2020

427,500

Charge for year

30,000

At 31 March 2021

457,500

NET BOOK VALUE

At 31 March 2021

142,500

At 31 March 2020

172,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

102,581

Additions

12,162

Disposals

(46,645

)

At 31 March 2021

68,098

DEPRECIATION

At 1 April 2020

89,523

Charge for year

9,065

Eliminated on disposal

(46,645

)

At 31 March 2021

51,943

NET BOOK VALUE

At 31 March 2021

16,155

At 31 March 2020

13,058

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

230,274

255,495

Other debtors

278,295

197,801

508,569

453,296

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

80,274

37,330

Taxation and social security

168,964

159,724

Other creditors

111,250

116,392

360,488

313,446

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

308,592

308,592

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Directors' loans

359,145

423,572

Directors' loans to the company are secured by means of debentures over the company's assets.

10.	POST BALANCE SHEET EVENTS

After the year end the company received a tax refund of £53,114.