West Midland Glass Centre Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03280269 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2017

for

West Midland Glass Centre Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTOR:

R F Guy

SECRETARY:

Mrs C Guy

REGISTERED OFFICE:

Worcester Road

Kidderminster

Worcestershire

DY10 1JR

REGISTERED NUMBER:

03280269 (England and Wales)

ACCOUNTANTS:

dhjh llp

Chartered Accountants

Wyre Forest House

Finepoint Way

Kidderminster

Worcestershire

DY11 7WF

FIXED ASSETS

Tangible assets

4

2,329

3,551

CURRENT ASSETS

Stocks

3,380

3,942

Debtors

10,339

9,758

Cash at bank and in hand

5

819

100

14,538

13,800

CREDITORS

Amounts falling due within one year

29,956

35,940

NET CURRENT LIABILITIES

(15,418

)

(22,140

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,089

)

(18,589

)

CREDITORS

Amounts falling due after more than one year

37,996

38,630

NET LIABILITIES

(51,085

)

(57,219

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(51,185

)

(57,319

)

SHAREHOLDERS' FUNDS

(51,085

)

(57,219

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 February 2018 and were signed by:

R F Guy - Director

1.	STATUTORY INFORMATION

West Midland Glass Centre 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

The financial statements have been prepared on a going concern basis under the historical cost convention and

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

director considers that the going concern basis is applicable due to his continued support and the profitability

now being reported.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 November 2017 are the first to be prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A was 1 December 2015. The transition is not considered to have a material

effect on the financial statements and no adjustments were necessary to restate the financial statements

previously presented under UK GAAP, including the balance sheet as at 1 December 2015 and the financial

statements as at and for the year ended 30 November 2016.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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.

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 5 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2016

28,198

Disposals

(13,249

)

At 30 November 2017

14,949

DEPRECIATION

At 1 December 2016

24,647

Charge for year

824

Eliminated on disposal

(12,851

)

At 30 November 2017

12,620

NET BOOK VALUE

At 30 November 2017

2,329

At 30 November 2016

3,551

5.	CASH AT BANK AND IN HAND

2017

2016

£

£

Bank account

619

-

Cash in hand

200

100

819

100

6.

LOANS

An analysis of the maturity of loans is given below:

2017

2016

£

£

Amounts falling due within one year or on demand:

Other loans

-

1,782

7.	ULTIMATE CONTROLLING PARTY

The controlling party is R F Guy.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Abridged Statement of Comprehensive Income and certain

other primary statements and the Report of the Director are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of West Midland Glass Centre Limited for the year ended 30 November 2017 which comprise the

Income Statement, Abridged Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of West Midland Glass Centre Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of West Midland Glass Centre Limited and state those matters that we have agreed to state to the director of West Midland Glass Centre Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West Midland Glass Centre Limited and its director for our work or for this report.

It is your duty to ensure that West Midland Glass Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of West Midland Glass Centre Limited. You consider that West Midland Glass Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of West Midland Glass Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

dhjh llp

Chartered Accountants

Wyre Forest House

Finepoint Way

Kidderminster

Worcestershire

DY11 7WF

26 February 2018