Woolley Pritchard & Co Limited - Accounts to registrar - small 17.2

Woolley Pritchard & Co Limited - Accounts to registrar - small 17.2

WOOLLEY PRITCHARD & CO LIMITED - Company Information

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REGISTERED NUMBER: 07774224 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

WOOLLEY PRITCHARD & CO LIMITED

WOOLLEY PRITCHARD & CO LIMITED (REGISTERED NUMBER: 07774224)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WOOLLEY PRITCHARD & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017







DIRECTOR: D Chitty





REGISTERED OFFICE: Varney House
91 Spon Lane
West Bromwich
West Midlands
B70 6AB





REGISTERED NUMBER: 07774224 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG
Page 1
WOOLLEY PRITCHARD & CO LIMITED (REGISTERED NUMBER: 07774224)

ABRIDGED BALANCE SHEET
31 MARCH 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 191,250 204,000
Tangible assets 5 13,977 11,867
205,227 215,867

CURRENT ASSETS
Stocks 30,000 28,500
Debtors 52,797 104,929
Prepayments and accrued income 20,663 31,709
Cash at bank and in hand 56,788 2,240
160,248 167,378
CREDITORS
Amounts falling due within one year 54,648 69,167
NET CURRENT ASSETS 105,600 98,211
TOTAL ASSETS LESS CURRENT
LIABILITIES
310,827
314,078

CREDITORS
Amounts falling due after more than one
year
201,083
210,716
NET ASSETS 109,744 103,362

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 109,644 103,262
SHAREHOLDERS' FUNDS 109,744 103,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
WOOLLEY PRITCHARD & CO LIMITED (REGISTERED NUMBER: 07774224)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2017


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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 24 July 2017 and were signed by:





D Chitty - Director


The notes form part of these financial statements

Page 3
WOOLLEY PRITCHARD & CO LIMITED (REGISTERED NUMBER: 07774224)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017

1. STATUTORY INFORMATION

Woolley Pritchard & Co 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33.3% on cost, 25% on reducing balance and 10% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Page 4 continued...
WOOLLEY PRITCHARD & CO LIMITED (REGISTERED NUMBER: 07774224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

2. ACCOUNTING POLICIES - continued

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 profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

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 5 .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2016
and 31 March 2017 255,000
AMORTISATION
At 1 April 2016 51,000
Amortisation for year 12,750
At 31 March 2017 63,750
NET BOOK VALUE

At 31 March 2017 191,250
At 31 March 2016 204,000

Page 5 continued...
WOOLLEY PRITCHARD & CO LIMITED (REGISTERED NUMBER: 07774224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2016 34,485
Additions 15,657
Disposals (15,750 )
At 31 March 2017 34,392
DEPRECIATION
At 1 April 2016 22,618
Charge for year 6,902
Eliminated on disposal (9,105 )
At 31 March 2017 20,415
NET BOOK VALUE
At 31 March 2017 13,977
At 31 March 2016 11,867

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2016 15,750
Disposals (15,750 )
At 31 March 2017 -
DEPRECIATION
At 1 April 2016 9,105
Eliminated on disposal (9,105 )
At 31 March 2017 -
NET BOOK VALUE
At 31 March 2017 -
At 31 March 2016 6,645

6. ULTIMATE CONTROLLING PARTY

The controlling party is D Chitty.

Page 6