NWL (Group) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08559648 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2017

for

NWL (Group) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L M Evans

P L Roberts

REGISTERED OFFICE:

Queens House

Queens Road

Chester

Cheshire

CH1 3BQ

REGISTERED NUMBER:

08559648 (England and Wales)

ACCOUNTANTS:

Voisey & Co

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

FIXED ASSETS

Investments

4

343,558

343,558

CURRENT ASSETS

Debtors

5

403,981

273,262

Cash at bank

131,035

174,517

535,016

447,779

CREDITORS

Amounts falling due within one year

6

(30,184

)

(29,453

)

NET CURRENT ASSETS

504,832

418,326

TOTAL ASSETS LESS CURRENT LIABILITIES

848,390

761,884

CAPITAL AND RESERVES

Called up share capital

7

68

68

Capital redemption reserve

8

32

32

Retained earnings

8

848,290

761,784

SHAREHOLDERS' FUNDS

848,390

761,884

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 15 November 2017 and were signed on its behalf by:

L M Evans - Director

P L Roberts - Director

1.	STATUTORY INFORMATION

NWL (Group) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements for the year ended 31st August 2017 are the first financial statements of NWL

(Group) Limited prepared in accordance with FRS 102 Section 1A small entities, The Financial Reporting

Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 Section 1A small

entities was 1st September 2015. An explanation of how transition to FRS 102 has affected the reported

financial position and financial performance is given in note 11.

Monetary amounts in these financial statements are rounded to the nearest £.

The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements

The financial statements contain information about NWL (Group) Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements,

estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from

other sources. The estimates and associated assumptions are based on historical experience and other factors

that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying

assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period

in which the estimate is revised where the revision affects only that period, or in the period of the revision and

future periods where the revision affects both current and future periods.

The key assumptions concerning the future and other key sources of estimation include uncertainties at the

reporting date, which may have a risk of causing a material adjustment to the carrying amounts of assets and

liabilities within the next financial periods, are discussed below.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank,

other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company

becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when

there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the net asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised costs using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest. Financial assets classified as

receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or

joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are

subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that

investments in equity instruments that are not publically traded and whose fair values cannot be measured

reliably are measured at cost less impairment.

Short-term employee benefits

The costs of the short-term employee benefits are recognised as a liability and an expense, unless those costs

are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday

entitlement is recognised in the period in which the employee's services are received. Termination benefits are

recognised immediately as an expense when the company is demonstrably committed to terminate the

employment of an employee or to provide termination benefits.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion

of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2016

and 31 August 2017

343,558

NET BOOK VALUE

At 31 August 2017

343,558

At 31 August 2016

343,558

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Amounts owed by group undertakings

403,981

163,262

Prepayments and accrued income

-

110,000

403,981

273,262

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Tax

23,498

22,765

Social security and other taxes

2,313

2,315

Other creditors

3,773

3,773

Accrued expenses

600

600

30,184

29,453

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

£

34

Ordinary D £1

£1

34

34

34

Ordinary F £1

£1

34

34

68

68

8.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 September 2016

761,784

32

761,816

Profit for the year

496,508

496,508

Dividends

(410,002

)

(410,002

)

At 31 August 2017

848,290

32

848,322

9.	ULTIMATE CONTROLLING PARTY

The controlling party is L M Evans and P L Roberts.

10.	FIRST YEAR ADOPTION

There is no requirement of a reconciliation of opening balances and net income/(expenditure) for the year as

per the requirements of FRS 102 as no change has taken place.