PWIDF Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04034925 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2020

for

PWIDF Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P A White

Mrs S M White

REGISTERED OFFICE:

Unit B24 Langland Park West

Langland Way

Newport

NP19 4ED

REGISTERED NUMBER:

04034925 (England and Wales)

ACCOUNTANTS:

Marsh Vision Limited

Chartered Certified Accountants

Chester House

17 Gold Tops

Newport

SOUTH WALES

NP20 4PH

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

184,046

94,705

184,046

94,705

CURRENT ASSETS

Inventories

150,000

160,000

Debtors

6

408,736

240,304

Cash at bank and in hand

167,790

144,995

726,526

545,299

CREDITORS

Amounts falling due within one year

7

346,675

220,108

NET CURRENT ASSETS

379,851

325,191

TOTAL ASSETS LESS CURRENT LIABILITIES

563,897

419,896

CREDITORS

Amounts falling due after more than one year

8

(67,633

)

-

PROVISIONS FOR LIABILITIES

9

(24,100

)

(7,036

)

NET ASSETS

472,164

412,860

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

472,064

412,760

SHAREHOLDERS' FUNDS

472,164

412,860

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2021 and were signed on its behalf by:

Mrs S M White - Director

1.	STATUTORY INFORMATION

PWIDF 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill was fully written off in the profit and loss in the year of acquisition.

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 useful economic life.

Plant & equipment 15% Reducing balance

Fixtures & fittings 15% Reducing balance

Motor vehicles 20% Reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 19 (2019 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2019

and 30 November 2020

1,000

AMORTISATION

At 1 December 2019

and 30 November 2020

1,000

NET BOOK VALUE

At 30 November 2020

-

At 30 November 2019

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2019

32,517

112,145

144,662

Additions

8,768

113,389

122,157

At 30 November 2020

41,285

225,534

266,819

DEPRECIATION

At 1 December 2019

3,252

46,705

49,957

Charge for year

4,128

28,688

32,816

At 30 November 2020

7,380

75,393

82,773

NET BOOK VALUE

At 30 November 2020

33,905

150,141

184,046

At 30 November 2019

29,265

65,440

94,705

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Trade debtors

402,869

236,904

Prepayments

5,867

3,400

408,736

240,304

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans and overdrafts

14,493

-

Trade creditors

287,002

189,114

Tax

14,262

18,864

Social security and other taxes

7,162

4,647

VAT

16,488

5,196

Other creditors

1,270

797

Directors' current accounts

4,998

790

Accrued expenses

1,000

700

346,675

220,108

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans - 1-2 years

14,493

-

Bank loans - 2-5 years

43,478

-

Bank loans more 5 yr by instal

9,662

-

67,633

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

9,662

-

9.	PROVISIONS FOR LIABILITIES

30.11.20

30.11.19

£

£

Deferred tax

Accelerated capital allowances

24,100

7,036

Deferred

tax

£

Balance at 1 December 2019

7,036

Charge to Income Statement during year

17,064

Balance at 30 November 2020

24,100