Window on Wales Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03745693 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2017

for

Window on Wales Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs I J Prickett

Mr P.M Prickett

SECRETARY:

Mrs I J Prickett

REGISTERED OFFICE:

Williamston House

7 Goat Street

Haverfordwest

Pembrokeshire

SA61 1PX

REGISTERED NUMBER:

03745693 (England and Wales)

SOLICITORS:

Eaton Evans and Morris

Dark Street

HAVERFORDWEST

Pembrokeshire

SA61 2DB

FIXED ASSETS

Intangible assets

4

2,267

29,467

Tangible assets

5

11,394

13,520

13,661

42,987

CURRENT ASSETS

Stocks

6

188,015

212,006

Debtors

7

1,638

1,429

Cash at bank and in hand

107,333

51,034

296,986

264,469

CREDITORS

Amounts falling due within one year

8

51,885

54,496

NET CURRENT ASSETS

245,101

209,973

TOTAL ASSETS LESS CURRENT LIABILITIES

258,762

252,960

PROVISIONS FOR LIABILITIES

2,250

2,536

NET ASSETS

256,512

250,424

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Retained earnings

255,312

249,224

SHAREHOLDERS' FUNDS

256,512

250,424

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 29 September 2017 and were signed on its behalf by:

Mrs I J Prickett - Director

Mr P.M Prickett - Director

1.	STATUTORY INFORMATION

Window on Wales 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 represents net sales made via retail shops excluding VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of ten 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.

Improvements to leasehold property

-

4% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2016

and 31 January 2017

272,000

AMORTISATION

At 1 February 2016

242,533

Charge for year

27,200

At 31 January 2017

269,733

NET BOOK VALUE

At 31 January 2017

2,267

At 31 January 2016

29,467

5.	TANGIBLE FIXED ASSETS

Improvements

to

Fixtures

leasehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2016

692

36,658

14,739

4,152

56,241

Disposals

-

-

-

(4,152

)

(4,152

)

At 31 January 2017

692

36,658

14,739

-

52,089

DEPRECIATION

At 1 February 2016

28

25,494

13,048

4,151

42,721

Charge for year

28

1,675

422

1

2,126

Eliminated on disposal

-

-

-

(4,152

)

(4,152

)

At 31 January 2017

56

27,169

13,470

-

40,695

NET BOOK VALUE

At 31 January 2017

636

9,489

1,269

-

11,394

At 31 January 2016

664

11,164

1,691

1

13,520

6.

STOCKS

31.1.17

31.1.16

£

£

Stocks

188,015

212,006

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Prepayments

1,638

1,429

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Corporation Tax

26,274

35,247

Social Security and Other Taxes

564

287

VAT

11,326

10,504

Directors' current accounts

7,556

2,383

Accrued expenses

6,165

6,075

51,885

54,496

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2017 and

31 January 2016:

31.1.17

31.1.16

£

£

Mrs I J Prickett and Mr P.M Prickett

Balance outstanding at start of year

(2,383

)

(1,212

)

Amounts advanced

84,827

182,578

Amounts repaid

(90,000

)

(183,749

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(7,556

)

(2,383

)