AWS Appliance Spares Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05253475 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2017

FOR

AWS APPLIANCE SPARES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A H Willey

R J Willey

SECRETARY:

Mrs A.E. Willey

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

05253475 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

FIXED ASSETS

Tangible assets

4

599,771

589,431

CURRENT ASSETS

Stocks

273,442

299,036

Debtors

5

286,292

328,468

Cash at bank and in hand

17,671

37,264

577,405

664,768

CREDITORS

Amounts falling due within one year

6

155,015

160,486

NET CURRENT ASSETS

422,390

504,282

TOTAL ASSETS LESS CURRENT LIABILITIES

1,022,161

1,093,713

CREDITORS

Amounts falling due after more than one year

7

(29,803

)

(54,708

)

PROVISIONS FOR LIABILITIES

9

(3,746

)

(4,577

)

NET ASSETS

988,612

1,034,428

CAPITAL AND RESERVES

Called up share capital

10

103

103

Retained earnings

988,509

1,034,325

SHAREHOLDERS' FUNDS

988,612

1,034,428

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 16th April 2018 and were signed on its behalf by:

A H Willey - Director

R J Willey - Director

1.	STATUTORY INFORMATION

AWS Appliance Spares Ltd 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.

Freehold property

-

0.5% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 8 (2016 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st December 2016

555,371

88,520

13,400

31,734

689,025

Additions

-

-

34,000

1,789

35,789

Disposals

-

-

(13,400

)

-

(13,400

)

At 30th November 2017

555,371

88,520

34,000

33,523

711,414

DEPRECIATION

At 1st December 2016

19,440

59,819

184

20,151

99,594

Charge for year

2,778

4,302

2,125

3,028

12,233

Eliminated on disposal

-

-

(184

)

-

(184

)

At 30th November 2017

22,218

64,121

2,125

23,179

111,643

NET BOOK VALUE

At 30th November 2017

533,153

24,399

31,875

10,344

599,771

At 30th November 2016

535,931

28,701

13,216

11,583

589,431

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/17

30/11/16

£

£

Trade debtors

146,814

145,542

Other debtors

14,454

16,558

Loan

100,000

100,000

Directors' current accounts

-

57,819

Prepayments

25,024

8,549

286,292

328,468

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/17

30/11/16

£

£

Bank loans and overdrafts

24,607

24,107

Trade creditors

43,206

52,940

Tax

17,289

27,609

Social security and other taxes

38,354

39,714

Directors' current accounts

28,489

12,590

Accrued expenses

3,070

3,526

155,015

160,486

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/11/17

30/11/16

£

£

Bank loans - 1-2 years

24,907

24,307

Bank loans - 2-5 years

4,896

30,401

29,803

54,708

8.	SECURED DEBTS

The following secured debts are included within creditors:

30/11/17

30/11/16

£

£

Bank loans

54,410

78,815

9.	PROVISIONS FOR LIABILITIES

30/11/17

30/11/16

£

£

Deferred tax

3,746

4,577

Deferred

tax

£

Balance at 1st December 2016

4,577

Accelerated capital allowances

(831

)

Balance at 30th November 2017

3,746

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/17

30/11/16

value:

£

£

1

Ordinary Non-voting A

£1

1

1

1

Ordinary Non-voting B

£1

1

1

1

Ordinary Non-voting C

£1

1

1

100

Ordinary

£1

100

100

103

103

11.	CONTINGENT LIABILITIES

There were no contingent liabilities at 30th November 2017 (2016 - none).

12.	CAPITAL COMMITMENTS

30/11/17

30/11/16

£

£

Contracted but not provided for in the

financial statements

-

-

13.	RELATED PARTY DISCLOSURES

During the period Mr A H Willey charged £208 (2016 - £208) to the company for business use of his private

residence. Mr R J Willey charged the company £90 (2016 - £90) for business use of his private car.

At 30th November 2017 a loan of £100,000 (2016 - £100,000) was due to the company from Househam

Sprayers Ltd, a company in which Mr R J Willey is a director. The rate of interest on the loan is 4% p.a. to be

paid monthly. The interest charged during the current year amounted to £4,000 (2016 - £3,000), £1,337 (2016

-£261) was outstanding at the year end.

14.	ULTIMATE CONTROLLING PARTY

Mr AH Willey and Mrs AE Willey together own 75% of the issued share capital of the company.

15.	FIRST TIME ADOPTION OF FINANCIAL REPORTING STANDARD

These financial statements are the first which the company has prepared in accordance with the provisions of

Financial Reporting Standard 102 (FRS 102), including those of Section 1A relating to "Small Entities". The

transition to FRS 102 has had no effect on any item included within the opening balance sheet of the comparative

period at 1st November 2015, the income statement for the comparative period ended 30th November 2016 or

the closing balance sheet of the comparative period at 30th November 2016.