Whitecroft Essentials (Lydney) Limited Company Accounts
Whitecroft Essentials (Lydney) Limited Company Accounts
COMPANY REGISTRATION NUMBER:
08843941
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Financial Statements |
Year ended 28 February 2017
Contents |
Page |
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
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Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 28 February 2017
Midway House
Staverton Technology Park
Herrick Way, Staverton
Cheltenham, Glos.
GL51 6TQ
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Negative goodwill |
5 |
(
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(
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Tangible assets |
6 |
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(
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(
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Current assets
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
19 September 2017
, and are signed on behalf of the board by:
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Director |
Company registration number:
08843941
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Notes to the Financial Statements |
Year ended 28 February 2017
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Whitecroft Business Park, Whitecroft, Lydney, Gloucesterhsire, GL15 4QG, UK.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Revenue recognition
Income tax
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
30
(2016:
33
).
5.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 March 2016 and 28 February 2017 |
(
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Amortisation |
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At 1 March 2016 |
(
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Charge for the year |
(
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At 28 February 2017 |
(
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Carrying amount |
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At 28 February 2017 |
(
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At 29 February 2016 |
(
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6.
Tangible assets
Plant and machinery |
Total |
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£ |
£ |
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Cost |
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At 1 March 2016 and 28 February 2017 |
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Depreciation |
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At 1 March 2016 and 28 February 2017 |
– |
– |
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Carrying amount |
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At 28 February 2017 |
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7.
Debtors
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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9.
Related party transactions
The company was under the control of the directors throughout the current and previous year.
10.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 February 2015.
No transitional adjustments were required in equity or profit or loss for the period.