P.D. & L.F. Whitaker Supermarkets Limite - Accounts to registrar - small 17.1

REGISTERED NUMBER: 02279312 (England and Wales)

P.D. & L.F. WHITAKER SUPERMARKETS

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 JANUARY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D Whitaker

Mrs L F Whitaker

SECRETARY:

Mrs L F Whitaker

REGISTERED OFFICE:

Hall Farm

Front Street, Laxton

Goole

East Yorkshire

DN14 7TS

REGISTERED NUMBER:

02279312 (England and Wales)

ACCOUNTANTS:

KTC

Chartered Certified Accountants

80 West View

Barlby Road

Selby

North Yorkshire

YO8 5BD

BANKERS:

Barclays Bank plc

Parliament Street

York

North Yorkshire

YO1 1XD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

28,835

32,092

28,835

32,092

CURRENT ASSETS

Stocks

6

33,914

29,336

Debtors

7

21,161

22,770

Cash at bank and in hand

215,650

204,998

270,725

257,104

CREDITORS

Amounts falling due within one year

8

101,479

109,245

NET CURRENT ASSETS

169,246

147,859

TOTAL ASSETS LESS CURRENT LIABILITIES

198,081

179,951

PROVISIONS FOR LIABILITIES

4,500

4,900

NET ASSETS

193,581

175,051

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

193,481

174,951

SHAREHOLDERS' FUNDS

193,581

175,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 January 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 5 May 2017 and were signed on its behalf by:

P D Whitaker - Director

1.	STATUTORY INFORMATION

P.D. & L.F. Whitaker Supermarkets 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Fixtures & equipment

-

20% 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 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.

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 21 .

4.	INTANGIBLE FIXED ASSETS

Although the value of Intangible assets is shown as nil, the directors are of the view that the value of

Goodwill in the business is substantial. The cost price (which has been amortised) was £46,000

but the true value is considered to be much higher.

5.	TANGIBLE FIXED ASSETS

Fixtures

& equipment

£

COST

At 6 January 2016

59,390

Additions

4,932

Disposals

(4,189

)

At 5 January 2017

60,133

DEPRECIATION

At 6 January 2016

27,298

Charge for year

8,189

Eliminated on disposal

(4,189

)

At 5 January 2017

31,298

NET BOOK VALUE

At 5 January 2017

28,835

At 5 January 2016

32,092

6.

STOCKS

2017

2016

£

£

Stocks

33,914

29,336

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,578

9,257

Other debtors

14,583

13,513

21,161

22,770

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

60,479

61,063

Taxation and social security

32,732

29,081

Other creditors

8,268

19,101

101,479

109,245

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £75,700 (2016 - £60,000) were paid to the directors .