Woodworking Machinery Suppliers Association Limited - Period Ending 2017-12-31

Registration number: 01757131

Woodworking Machinery Suppliers Association Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

Woodworking Machinery Suppliers Association Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 4

Woodworking Machinery Suppliers Association Limited

Company Information

Chairman

Mr D G Thompson Rowlands

Directors

Mr C J Smith Mr F V Dalton Mr C Franklin Mr G De Col Mr D G Thompson Rowlands

Registered office

Northgate House North Gate New Basford Nottingham NG7 7BQ

Accountants

RWB CA Limited Northgate House North Gate New Basford Nottingham NG7 7BQ

Page 1

Woodworking Machinery Suppliers Association Limited

(Registration number: 01757131)
Balance Sheet as at 31 December 2017

	Note	2017 £	2016 £
Current assets
Debtors	4	90	252
Cash at bank and in hand		82,448	67,241
		82,538	67,493
Creditors: Amounts falling due within one year	5	(2,050)	(3,000)
Net assets		80,488	64,493
Capital and reserves
Profit and loss account		80,488	64,493
Total equity		80,488	64,493

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 February 2018 and signed on its behalf by:
 

.........................................

Mr D G Thompson Rowlands

Chairman

The notes on pages 3 to 4 form an integral part of these financial statements.

Page 2

Woodworking Machinery Suppliers Association Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

The principal place of business is:
20 Poplar Road
Shalford
Guildford
GU4 8DJ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company did not make any significant judgements (apart from those involving estimations which are detailed in the notes below) that have a significant effect on the amounts recognised in the financial statements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Financial instruments

Page 3

Woodworking Machinery Suppliers Association Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 Recognition and measurement
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
 Impairment
No impairment of financial assets.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2016 - 6).

4

Debtors

	2017 £	2016 £
Other debtors	90	252
Total current trade and other debtors	90	252

5

Creditors

	Note	2017 £	2016 £
Due within one year
Other creditors		2,050	3,000

Page 4