Walker B Limited - Limited company accounts 17.3

REGISTERED NUMBER: 09201354 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

WALKER B LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

B Walker

REGISTERED OFFICE:

First Floor

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

REGISTERED NUMBER:

09201354 (England and Wales)

The director presents his report with the financial statements of the company for the year ended 30 September 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the selling of engineering

tools and related products.

DIRECTOR

B Walker held office during the whole of the period from 1 October 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:

B Walker - Director

1 February 2018

TURNOVER

207,303

287,215

Cost of sales

165,235

177,439

GROSS PROFIT

42,068

109,776

Administrative expenses

48,972

55,890

OPERATING (LOSS)/PROFIT

(6,904

)

53,886

Interest receivable and similar income

-

2

(6,904

)

53,888

Interest payable and similar expenses

3,567

5,006

(LOSS)/PROFIT BEFORE TAXATION

(10,471

)

48,882

Tax on (loss)/profit

(1,057

)

6,547

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(9,414

)

42,335

FIXED ASSETS

Tangible assets

5

36,723

48,964

CURRENT ASSETS

Stocks

5,750

50,144

Debtors

6

91,825

34,349

Cash at bank

31,134

21,240

128,709

105,733

CREDITORS

Amounts falling due within one year

7

44,960

69,499

NET CURRENT ASSETS

83,749

36,234

TOTAL ASSETS LESS CURRENT LIABILITIES

120,472

85,198

CREDITORS

Amounts falling due after more than one year

8

108,185

55,121

NET ASSETS

12,287

30,077

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

12,286

30,076

SHAREHOLDERS' FUNDS

12,287

30,077

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 1 February 2018 and were signed by:

B Walker - Director

1.	STATUTORY INFORMATION

Walker B 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.

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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.

DIVIDENDS

2017

2016

£

£

Ordinary share of £1

Dividends paid

8,376

5,876

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 October 2016

and 30 September 2017

65,872

DEPRECIATION

At 1 October 2016

16,908

Charge for year

12,241

At 30 September 2017

29,149

NET BOOK VALUE

At 30 September 2017

36,723

At 30 September 2016

48,964

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

follows:

Motor

vehicles

£

COST

At 1 October 2016

and 30 September 2017

65,872

DEPRECIATION

At 1 October 2016

16,908

Charge for year

12,241

At 30 September 2017

29,149

NET BOOK VALUE

At 30 September 2017

36,723

At 30 September 2016

48,964

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

8,900

32,324

Other debtors

4,355

1,616

VAT

2,540

-

Prepayments

76,030

409

91,825

34,349

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

13,000

Hire purchase contracts

13,492

9,410

Trade creditors

(6,215

)

10,792

Corporation tax

(1,057

)

6,547

VAT

-

3,966

Directors' current accounts

33,638

22,123

Accrued expenses

5,102

3,661

44,960

69,499

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 2-5 years

55,000

8,854

Hire purchase contracts

53,185

46,267

108,185

55,121