Walthams Reliability Limited - Accounts to registrar (filleted) - small 17.3
Walthams Reliability Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| WALTHAMS RELIABILITY LIMITED |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2017 |
| WALTHAMS RELIABILITY LIMITED (REGISTERED NUMBER: 00326211) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| WALTHAMS RELIABILITY LIMITED |
| Company Information |
| for the Year Ended 31 May 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Highdale House |
| 7 Centre Court |
| Treforest Industrial Estate |
| Pontypridd |
| Rhondda Cynon Taff |
| CF37 5YR |
| WALTHAMS RELIABILITY LIMITED (REGISTERED NUMBER: 00326211) |
| Balance Sheet |
| 31 May 2017 |
| 31.5.17 | 31.5.16 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 6 | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| WALTHAMS RELIABILITY LIMITED (REGISTERED NUMBER: 00326211) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2017 |
| 1. | STATUTORY INFORMATION |
| Walthams Reliability Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements for the period ended 31st May 2017 are the first financial statements that comply with FRS 102 |
| Section 1 A small entities. The date of transition is 1st June 2015. |
| The transition to FRS 102 Section 1 A small entities has not resulted in any amendments to the comparative balance sheet, |
| the balance sheet at the date of transition, or in the comparative income statement. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
| tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
| accumulated amortisation and any accumulated impairment losses. |
| 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. |
| WALTHAMS RELIABILITY LIMITED (REGISTERED NUMBER: 00326211) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2017 |
| 3. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 June 2016 |
| and 31 May 2017 |
| AMORTISATION |
| At 1 June 2016 |
| Charge for year |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.17 | 31.5.16 |
| £ | £ |
| Other debtors |
| Prior year figures have been classified to better reflect the nature of the balances. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.17 | 31.5.16 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.17 | 31.5.16 |
| £ | £ |
| Other creditors |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2017 and 31 May 2016: |
| 31.5.17 | 31.5.16 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| The loan is non-interest bearing and repayable on demand. |
| 8. | RELATED PARTY DISCLOSURES |
| During the year the following dividends were voted and paid; J D Hughes-Lewis £50,360 (2016: £18,000). |