Accounts Submission
Accounts Submission
WIZARDS COUTURE LIMITED
Company Registration Number:
03772517
(England and Wales)
Unaudited statutory accounts for the year ended 31 May 2017
Period of accounts
Start date: 01 June 2016
End date: 31 May 2017
WIZARDS COUTURE LIMITED
Contents of the Financial Statements
for the Period Ended 31 May 2017
Company Information - 3 | |
Report of the Directors - 4 | |
Profit and Loss Account - 5 | |
Balance sheet - 6 | |
Additional notes - 8 | |
Balance sheet notes - 9 |
WIZARDS COUTURE LIMITED
Company Information
for the Period Ended 31 May 2017
Director: |
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Secretary: |
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Registered office: |
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Company Registration Number: |
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WIZARDS COUTURE LIMITED
Directors' Report Period Ended 31 May 2017
The directors present their report with the financial statements of the company for the period ended 31 May 2017
Principal Activities
Political and charitable donations
Company policy on the employment of disabled persons
Directors
The directors shown below have held office during the whole of the period from 01 June 2016 to 31 May 2017
Secretary
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
WIZARDS COUTURE LIMITED
Profit and Loss Account
for the Period Ended 31 May 2017
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2017 £ |
2016 £ |
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Turnover |
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Cost of sales |
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Gross Profit or (Loss) |
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Distribution Costs |
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Administrative Expenses |
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Other operating income |
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Operating Profit or (Loss) |
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Interest Receivable and Similar Income |
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Interest Payable and Similar Charges |
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Profit or (Loss) Before Tax |
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Tax on Profit |
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Profit or (Loss) for Period |
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The notes form part of these financial statements
WIZARDS COUTURE LIMITED
Balance sheet
As at
Notes |
2017 £ |
2016 £ |
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Fixed assets | |||
Tangible assets: | 2 |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: | 3 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 4 |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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The notes form part of these financial statements
WIZARDS COUTURE LIMITED
Balance sheet continued
As at 31 May 2017
Notes |
2017 £ |
2016 £ |
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Capital and reserves | |||
Called up share capital: |
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Profit and loss account: |
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Shareholders funds: |
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This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
The notes form part of these financial statements
WIZARDS COUTURE LIMITED
Notes to the Financial Statements
for the Period Ended 31 May 2017
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1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Turnover policy
The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT Tangible fixed assets depreciation policy
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Land & Buildings 0% on cost per annum, Plant & Equipment 10% on cost per annum, Fixtures & Fittings 20% on cost per annum, Office equipment 33% on cost per annum, Motor Vehicles 25% on cost per annum. Intangible fixed assets amortisation policy
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. Valuation information and policy
Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Other accounting policies
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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred.
WIZARDS COUTURE LIMITED
Notes to the Financial Statements
for the Period Ended 31 May 2017
2. Tangible assets
Plant & machinery | Total | |
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Cost | £ | £ |
At 01 June 2016 |
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Additions |
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Disposals |
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Revaluations | - | - |
Transfers | - | - |
At 31 May 2017 |
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Depreciation | ||
At 01 June 2016 |
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Charge for year |
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On disposals | - | - |
Other adjustments | - | - |
At 31 May 2017 |
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Net book value | ||
At 31 May 2017 |
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At 31 May 2016 |
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WIZARDS COUTURE LIMITED
Notes to the Financial Statements
for the Period Ended 31 May 2017
3. Debtors
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2016 £ |
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Trade debtors |
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Total |
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WIZARDS COUTURE LIMITED
Notes to the Financial Statements
for the Period Ended 31 May 2017
4.Creditors: amounts falling due within one year note
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2016 £ |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Total |
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