S&WWH Limited - Period Ending 2017-04-30

S&WWH Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 April 2017

Registration number: 04699681

S&WWH Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

S&WWH Limited

Company Information

Directors

Mrs J N Williamson J J D Cox

Company secretary

J J D Cox

Registered office

Mansion House Princes Street Yeovil Somerset BA20 1EP

Accountants

Francis Clark LLP Hitchcock House Hilltop Park Devizes Road Salisbury Wiltshire SP3 4UF

Page 1

S&WWH Limited

Balance Sheet

30 April 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	8,645	11,357
Current assets
Debtors	5	24,399	34,580
Cash at bank and in hand		3,590	-
		27,989	34,580
Creditors: Amounts falling due within one year	6	(20,403)	(6,737)
Net current assets		7,586	27,843
Net assets		16,231	39,200
Capital and reserves
Profit and loss account		16,231	39,200
Total equity		16,231	39,200

The notes on pages 4 to 7 form an integral part of these financial statements.

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S&WWH Limited

Balance Sheet

30 April 2017

For the financial year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 31 August 2017 and signed on its behalf by:
 

.........................................

J J D Cox

Company secretary

Company Registration Number: 04699681

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

S&WWH Limited

Notes to the Financial Statements

Year Ended 30 April 2017

1	General information

The company is a company limited by guarantee incorporated in England and Wales.

The address of its registered office is:
Mansion House
Princes Street
Yeovil
Somerset
BA20 1EP

These financial statements were authorised for issue by the Board on 31 August 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 1 January 2014. There is no material impact on the reported financial position and financial performance as a result of this transition.

Going concern

The directors have prepared the financial statements on a going concern basis, on the understanding that the company will continue to receive financial support from its members if it is required and, accordingly, the financial statements do not include any adjustments that would result if this support were not forthcoming.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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S&WWH Limited

Notes to the Financial Statements

Year Ended 30 April 2017

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Property Improvements	15% per annum reducing balance
Plant and Machinery	25% per annum reducing balance

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2016 - 1).

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S&WWH Limited

Notes to the Financial Statements

Year Ended 30 April 2017

4	Tangible assets

	Property Improvements £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 May 2016	5,691	38,560	44,251
At 30 April 2017	5,691	38,560	44,251
Depreciation
At 1 May 2016	4,364	28,530	32,894
Charge for the year	199	2,513	2,712
At 30 April 2017	4,563	31,043	35,606
Carrying amount
At 30 April 2017	1,128	7,517	8,645
At 30 April 2016	1,327	10,030	11,357

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S&WWH Limited

Notes to the Financial Statements

Year Ended 30 April 2017

5

Debtors

	2017  £	2016  £
Trade debtors	-	10,181
Other debtors	24,399	24,399
	24,399	34,580

6

Creditors

	Note	2017  £	2016  £
Due within one year
Loans and borrowings	7	-	892
Trade creditors		9,578	4,975
Other creditors		10,000	1
Accrued expenses		768	750
Corporation tax		57	119
		20,403	6,737

7	Loans and borrowings

	2017 £	2016 £
Current loans and borrowings
Bank overdrafts	-	892

8	Transition to FRS 102

The company transitioned to FRS 102 from previously extant UK GAAP as at 1 May 2015.

There were no changes to the previously stated equity as at 1 May 2015 and 30 April 2016 or in the profit for the year ended 30 April 2016 as a result of the transition for FRS 102.
 

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