Whitakers (South West) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08413422 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

WHITAKERS (SOUTH WEST) LIMITED

Page

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

4

Notes to the Financial Statements

5

DIRECTORS:

S G Hawkey FCA

L P Sole FCA

REGISTERED OFFICE:

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

REGISTERED NUMBER:

08413422 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

13,598

15,345

13,598

15,345

CURRENT ASSETS

Stocks

31,673

32,914

Debtors

6

358,770

427,502

Cash at bank and in hand

339,801

190,127

730,244

650,543

CREDITORS

Amounts falling due within one year

7

108,197

127,789

NET CURRENT ASSETS

622,047

522,754

TOTAL ASSETS LESS CURRENT LIABILITIES

635,645

538,099

CREDITORS

Amounts falling due after more than one year

8

(140,000

)

(80,000

)

PROVISIONS FOR LIABILITIES

(2,108

)

(2,312

)

NET ASSETS

493,537

455,787

CAPITAL AND RESERVES

Called up share capital

120

120

Capital redemption reserve

30

30

Retained earnings

493,387

455,637

SHAREHOLDERS' FUNDS

493,537

455,787

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 6 May 2021 and were signed on its behalf by:

S G Hawkey FCA - Director

L P Sole FCA - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2019

150

434,743

-

434,893

Issue of share capital

(30

)

-

-

(30

)

Dividends

-

(179,850

)

-

(179,850

)

Total comprehensive income

-

308,744

-

308,744

Purchase of own shares

-

(108,000

)

30

(107,970

)

Balance at 31 March 2020

120

455,637

30

455,787

Dividends

-

(176,800

)

-

(176,800

)

Total comprehensive income

-

214,550

-

214,550

Balance at 31 March 2021

120

493,387

30

493,537

1.	STATUTORY INFORMATION

Whitakers (South West) 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 represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where it is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, was amortised evenly over its estimated life of three years.

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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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 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 14 (2020 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

200,000

AMORTISATION

At 1 April 2020

and 31 March 2021

200,000

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2020

15,561

23,657

39,218

Additions

608

1,184

1,792

At 31 March 2021

16,169

24,841

41,010

DEPRECIATION

At 1 April 2020

8,726

15,147

23,873

Charge for year

1,116

2,423

3,539

At 31 March 2021

9,842

17,570

27,412

NET BOOK VALUE

At 31 March 2021

6,327

7,271

13,598

At 31 March 2020

6,835

8,510

15,345

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

162,842

222,157

Amounts recoverable on contract

170,640

181,498

Other debtors

1,073

-

Prepayments and accrued income

24,215

23,847

358,770

427,502

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

5,801

4,183

Tax

50,531

73,115

Social security and other taxes

47,739

45,729

Amounts owed to clients

60

702

Accruals and deferred income

4,066

4,060

108,197

127,789

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Directors' loan accounts

140,000

80,000

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors SG Hawkey and LP Sole, by virtue of the fact that between them they control 100% of the company's ordinary shares.