Wilmac Flooring (Company) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05253610 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Wilmac Flooring (Company) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J McNall

M J Williams

SECRETARY:

REGISTERED OFFICE:

Unit 6 Cwrt Erwain

Central Trade Park, Phase 2 Marley Way

Saltney

Chester

Cheshire

CH4 8SX

REGISTERED NUMBER:

05253610 (England and Wales)

ACCOUNTANTS:

Robert Jones Accountants Limited

Chartered Accountants

Office 9, The Neston Centre,

High Street

Neston

Cheshire

CH64 9TZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

17,006

22,106

17,006

22,106

CURRENT ASSETS

Stocks

18,500

17,500

Debtors

6

105,981

77,941

Cash at bank and in hand

21,273

43,768

145,754

139,209

CREDITORS

Amounts falling due within one year

7

83,263

57,438

NET CURRENT ASSETS

62,491

81,771

TOTAL ASSETS LESS CURRENT LIABILITIES

79,497

103,877

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

79,495

103,875

SHAREHOLDERS' FUNDS

79,497

103,877

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 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 December 2017 and were signed on its behalf by:

P J McNall - Director

M J Williams - Director

1.	STATUTORY INFORMATION

Wilmac Flooring (Company) 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 comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade

discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

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 10 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

335,000

AMORTISATION

At 1 April 2016

and 31 March 2017

335,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

56,480

DEPRECIATION

At 1 April 2016

34,374

Charge for year

5,100

At 31 March 2017

39,474

NET BOOK VALUE

At 31 March 2017

17,006

At 31 March 2016

22,106

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

104,231

72,965

Other debtors

1,750

4,976

105,981

77,941

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

40,956

25,818

Taxation and social security

34,516

29,052

Other creditors

7,791

2,568

83,263

57,438

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

P J McNall

Balance outstanding at start of year

1,269

-

Amounts advanced

-

1,269

Amounts repaid

(1,269

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,269

The directors' advances were unsecured, interest-free and repayable on demand.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £66,400 were paid to the directors .

10.	FIRST YEAR ADOPTION

The financial statements to 31st March 2017 are the first financial statements that comply with FRS 102 Section

1A for small entities.

There was no impact on shareholders funds at transition date and hence no Reconciliation of Equity and

Reconciliation of Profit or Loss was required.

Deferred tax is not considered to be material and is not provided for.