Watercoolers Direct.com Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05072220 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

WATERCOOLERS DIRECT.COM LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

F K Cairns Palmer

P N Glanville

A D Prockter

REGISTERED OFFICE:

Clearview House

Unit 24, Bamel Way

Gloucester Business Park, Brockworth

Gloucester

Gloucestershire

GL3 4BH

REGISTERED NUMBER:

05072220 (England and Wales)

ACCOUNTANTS:

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

FIXED ASSETS

Intangible assets

4

47,345

-

Tangible assets

5

138,803

115,251

Investments

6

1

1

186,149

115,252

CURRENT ASSETS

Stocks

524,982

371,099

Debtors

1,144,126

1,000,672

Cash at bank and in hand

159,004

358,147

1,828,112

1,729,918

CREDITORS

Amounts falling due within one year

(1,447,914

)

(1,262,721

)

NET CURRENT ASSETS

380,198

467,197

TOTAL ASSETS LESS CURRENT LIABILITIES

566,347

582,449

PROVISIONS FOR LIABILITIES

(35,491

)

(21,133

)

NET ASSETS

530,856

561,316

CAPITAL AND RESERVES

Called up share capital

7

2,500

2,500

Share premium

4,500

4,500

Retained earnings

523,856

554,316

SHAREHOLDERS' FUNDS

530,856

561,316

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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 14 December 2017 and were signed on its behalf by:

F K Cairns Palmer - Director

1.	STATUTORY INFORMATION

Watercoolers Direct.com 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.

Preparation of consolidated financial statements

The financial statements contain information about Watercoolers Direct.com 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of three years.

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

-

33% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the statement of financial position date. Transactions in foreign currencies are translated into sterling

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

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 45 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

Additions

55,999

At 31 March 2017

55,999

AMORTISATION

Amortisation for year

8,654

At 31 March 2017

8,654

NET BOOK VALUE

At 31 March 2017

47,345

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

268,928

Additions

69,068

At 31 March 2017

337,996

DEPRECIATION

At 1 April 2016

153,677

Charge for year

45,516

At 31 March 2017

199,193

NET BOOK VALUE

At 31 March 2017

138,803

At 31 March 2016

115,251

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2016

and 31 March 2017

1

NET BOOK VALUE

At 31 March 2017

1

At 31 March 2016

1

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

2,500

Ordinary

£1

2,500

2,500

8.	RELATED PARTY DISCLOSURES

At 31 March 2017 the following amounts were due to directors - F K Cairns-Palmer £20,969 (2016:

£7,787) and P N Glanville £19,825 (2016: £5,926). These amounts are repayable on demand and bear

no interest.

At the year end the amount due from the holding company, Water Coolers Direct.Com Holdings

Limited, was £150,134 (2016: £145,134). During the year the company was charged rent on a

commercial basis of £42,000 (2016: £42,000) by the holding company for the use of its business

premises

Routes Direct Limited, a fellow subsidiary company, reimbursed expenses and sold goods to the

company on an arms' length basis to the value of £781 and £61,882, respectively. At the year end

£234 and £3,023 was outstanding from/to the related party, respectively.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Watercoolers Direct.com Limited for the year ended 31 March 2017 on pages to

from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Watercoolers Direct.com Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Watercoolers Direct.com Limited and state those matters that we have agreed to state to the Board of Directors of Watercoolers Direct.com Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Watercoolers Direct.com Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Watercoolers Direct.com Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Watercoolers Direct.com Limited. You consider that Watercoolers Direct.com Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Watercoolers Direct.com Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

14 December 2017