Wolstonbury Construction Limited - Limited company accounts 17.3

REGISTERED NUMBER: 03456512 (England and Wales)

WOLSTONBURY CONSTRUCTION LIMITED

Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 October 2017

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

C R P Stepto

SECRETARY:

The Bailey Partnership Limited

REGISTERED OFFICE:

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

REGISTERED NUMBER:

03456512 (England and Wales)

ACCOUNTANTS:

The Bailey Partnership

Chartered Accountants

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

The director presents his report with the financial statements of the company for the year ended 31 October 2017.

DIRECTOR

C R P Stepto held office during the whole of the period from 1 November 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

C R P Stepto - Director

18 January 2018

TURNOVER

607,034

720,327

Cost of sales

539,564

668,641

GROSS PROFIT

67,470

51,686

Administrative expenses

47,299

36,280

OPERATING PROFIT and

PROFIT BEFORE TAXATION

4

20,171

15,406

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

20,171

15,406

FIXED ASSETS

Tangible assets

5

4,782

6,375

CURRENT ASSETS

Stocks

90,000

115,000

CREDITORS

Amounts falling due within one year

6

136,471

184,235

NET CURRENT LIABILITIES

(46,471

)

(69,235

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(41,689

)

(62,860

)

CAPITAL AND RESERVES

Called up share capital

2,000

1,000

Retained earnings

(43,689

)

(63,860

)

SHAREHOLDERS' FUNDS

(41,689

)

(62,860

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 18 January 2018 and were signed by:

C R P Stepto - Director

1.	STATUTORY INFORMATION

Wolstonbury Construction 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.

Plant and machinery etc

-

25% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees during the year was 1 .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2017

2016

£

Depreciation - owned assets

1,593

2,125

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

and 31 October 2017

8,500

DEPRECIATION

At 1 November 2016

2,125

Charge for year

1,593

At 31 October 2017

3,718

NET BOOK VALUE

At 31 October 2017

4,782

At 31 October 2016

6,375

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Taxation and social security

71,845

17,484

Other creditors

64,626

166,751

136,471

184,235