G.K. Wood & Son Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02764966 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

G.K. WOOD & SON LIMITED

TRADING AS

FULBOURN MEDICAL

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G K Wood

N B Wood

SECRETARY:

Miss A C Baum

REGISTERED OFFICE:

Unit 3, Fielding Industrial Estate

Wilbraham Road

Fulbourn

Cambridge

Cambridgeshire

CB21 5ET

REGISTERED NUMBER:

02764966 (England and Wales)

ACCOUNTANTS:

Gary J Cansick & Co

Chartered Acountants

Janelle House

6 Hartham Lane

Hertford

Hertfordshire

SG14 1QN

FIXED ASSETS

Tangible assets

4

6,711

4,806

CURRENT ASSETS

Debtors

5

352,860

336,872

Cash at bank and in hand

153,955

155,142

506,815

492,014

CREDITORS

Amounts falling due within one year

6

253,523

275,654

NET CURRENT ASSETS

253,292

216,360

TOTAL ASSETS LESS CURRENT LIABILITIES

260,003

221,166

PROVISIONS FOR LIABILITIES

346

1,047

NET ASSETS

259,657

220,119

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

259,557

220,019

259,657

220,119

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 8 January 2018 and were signed on its behalf by:

N B Wood - Director

1.	STATUTORY INFORMATION

G.K. Wood & Son 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 and 20% on 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.

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.

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 13 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

74,324

Additions

7,321

Disposals

(19,345

)

At 30 April 2017

62,300

DEPRECIATION

At 1 May 2016

69,518

Charge for year

1,586

Eliminated on disposal

(15,515

)

At 30 April 2017

55,589

NET BOOK VALUE

At 30 April 2017

6,711

At 30 April 2016

4,806

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

245,199

95,500

Other debtors

107,661

241,372

352,860

336,872

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

148,932

157,070

Taxation and social security

76,855

76,716

Other creditors

27,736

41,868

253,523

275,654

7.	FIRST YEAR ADOPTION

There are no transitional adjustments required in the adoption of FRS102 from UK GAAP 2015.