Yorkshire Woollen Mills Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03073235 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

YORKSHIRE WOOLLEN MILLS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

H V Hall

SECRETARY:

M Parkin Rhodes

REGISTERED OFFICE:

The Old Sunday School

Lidget Street

Lindley

Huddersfield

HD3 3JF

REGISTERED NUMBER:

03073235 (England and Wales)

ACCOUNTANTS:

Bartfields (UK) Limited

Chartered Accountants

Burley House

12 Clarendon Road

Leeds

LS2 9NF

FIXED ASSETS

Tangible assets

2

6,728

16,320

CURRENT ASSETS

Stocks

31,061

35,233

Debtors

3,106

4,333

Cash at bank

15,698

11,373

49,865

50,939

CREDITORS

Amounts falling due within one year

3

49,721

55,731

NET CURRENT ASSETS/(LIABILITIES)

144

(4,792

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,872

11,528

CAPITAL AND RESERVES

Called up share capital

4

10,000

10,000

Profit and loss account

(3,128

)

1,528

SHAREHOLDERS' FUNDS

6,872

11,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 24 June 2014 and were signed by:

H V Hall - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis, the validity of which depends upon the

continued support of the company's creditors.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods and commissions from concessionaires, excluding value added

tax.

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.

Short leasehold

-

over the life of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Accounting period

The company's accounting reference date is 24 December. These financial statements are for the year ended on

31 December 2013, that date being not more than 7 days either side of the accounting reference date as permitted

by the Companies Act 2006. The comparative amounts are for the year ended 31 December 2012.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

105,115

Disposals

(26,960

)

At 31 December 2013

78,155

DEPRECIATION

At 1 January 2013

88,795

Charge for year

3,195

Eliminated on disposal

(20,563

)

At 31 December 2013

71,427

NET BOOK VALUE

At 31 December 2013

6,728

At 31 December 2012

16,320

3.

CREDITORS

Creditors include an amount of £ 0 (2012 - £ 4,284 ) for which security has been given.

Of the above secured debts £11,523 are due within one year (2002 £19,996), and £4,770 are due after more than

one year (2002 £15,115).

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

10,000

Ordinary

£1

10,000

10,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company has both received monies from and repaid monies to the directors. The total amount

received was £27,155 (2012: £38,698) and the total drawn was £36,389 (2012: £36,345). At the balance sheet

date the company owed £21 (2012: £9,255) to the director. This advance is interest free with no set terms of

repayment and is disclosed within 'Other creditors' at note 8 above.

6.	POST BALANCE SHEET EVENTS

Since the year end the director has instigated procedures to convert share capital no longer required into

distributable reserves.