Canberra Wells Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01542774 (England and Wales)

Unaudited Financial Statements

for the period

1st April 2017 to 30th September 2017

for

Canberra Wells Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R W J Andrews

Mr R S Andrews

Ms E K Morley

Mr K Woodbine

SECRETARY:

REGISTERED OFFICE:

Midtherm House New Road

Netherton

Dudley

West Midlands

DY2 8SY

REGISTERED NUMBER:

01542774 (England and Wales)

ACCOUNTANTS:

Robin Oatridge & Co Limited

Chartered Certified Accountants

Black Bull House

353-355 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6EE

BANKERS:

National Westminster Bank

130 Lord Street

Southport

Merseyside

PR9 OAB

FIXED ASSETS

Tangible assets

4

173,354

266,961

CURRENT ASSETS

Stocks

277,666

274,188

Debtors

5

191,613

220,845

Cash at bank and in hand

296,268

446,692

765,547

941,725

CREDITORS

Amounts falling due within one year

6

80,155

220,066

NET CURRENT ASSETS

685,392

721,659

TOTAL ASSETS LESS CURRENT LIABILITIES

858,746

988,620

CREDITORS

Amounts falling due after more than one year

7

-

(18,181

)

PROVISIONS FOR LIABILITIES

(1,497

)

(7,307

)

NET ASSETS

857,249

963,132

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

757,249

863,132

SHAREHOLDERS' FUNDS

857,249

963,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th September 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 18th December 2017 and were signed on its behalf by:

Mr R W J Andrews - Director

1.	STATUTORY INFORMATION

Canberra Wells 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold property

-

Straight line over 50 years and Straight line over 10 years

Plant & equipment

-

Straight line over 3 years

Motor vehicles

-

25% on reducing balance

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 period 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 period was 12 (2017 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant &

Motor

property

equipment

vehicles

Totals

£

£

£

£

COST

At 1st April 2017

319,437

228,711

171,267

719,415

Disposals

(77,535

)

-

(121,131

)

(198,666

)

At 30th September 2017

241,902

228,711

50,136

520,749

DEPRECIATION

At 1st April 2017

175,455

209,266

67,733

452,454

Charge for period

8,742

7,977

11,833

28,552

Eliminated on disposal

(73,659

)

-

(59,952

)

(133,611

)

At 30th September 2017

110,538

217,243

19,614

347,395

NET BOOK VALUE

At 30th September 2017

131,364

11,468

30,522

173,354

At 31st March 2017

143,982

19,445

103,534

266,961

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st April 2017

31,990

Transfer to ownership

(31,990

)

At 30th September 2017

-

DEPRECIATION

At 1st April 2017

3,999

Transfer to ownership

(3,999

)

At 30th September 2017

-

NET BOOK VALUE

At 30th September 2017

-

At 31st March 2017

27,991

5.

DEBTORS

2017

2017

£

£

Amounts falling due within one year:

Trade debtors

119,374

150,045

Other debtors

67,047

-

Prepayments

5,192

800

191,613

150,845

Amounts falling due after more than one year:

Other debtors

-

70,000

Aggregate amounts

191,613

220,845

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2017

£

£

Hire purchase contracts (see note 8)

-

7,442

Trade creditors

44,232

160,098

Taxation and social security

26,382

38,304

Other creditors

9,541

14,222

80,155

220,066

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2017

£

£

Hire purchase contracts (see note 8)

-

18,181

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2017

£

£

Net obligations repayable:

Within one year

-

7,442

Between one and five years

-

18,181

-

25,623

Non-cancellable operating

leases

2017

2017

£

£

Within one year

8,641

8,641

Between one and five years

3,472

7,492

12,113

16,133

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2017

£

£

Hire purchase contracts

-

25,623

10.	RELATED PARTY DISCLOSURES

During the year the company wrote off £75,000 of a loan made to Nigel C Taylor Limited, a company controlled

by the director Mr C Taylor (2017 - £4,000). The amount owing to the company was at 30 September 2017 was

£0 (2017 - £70,000). No interest was charged on the loan (2017 - nil).

11.	ULTIMATE CONTROLLING PARTY

As at 30 September 2017 the company was controlled by Mr C and Mrs M Taylor.