HMW Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04428374 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2018

for

HMW Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A E Barlow-Evans

R Barlow-Evans

T Smirnova

SECRETARY:

J M Hashfield

REGISTERED OFFICE:

Ellesmere Business Park

Oswestry Road

Ellesmere

Shropshire

SY12 0EW

REGISTERED NUMBER:

04428374 (England and Wales)

ACCOUNTANTS:

Caerwyn Jones

Chartered Accountants

Emstrey House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

BANKERS:

HSBC Bank Plc

The Cross

1 Broad Street

Newtown

Powys

SY16 2LX

FIXED ASSETS

Intangible assets

4

1,833

-

Property, plant and equipment

5

614,935

600,241

Investments

6

2

2

616,770

600,243

CURRENT ASSETS

Inventories

242,037

242,348

Debtors

7

194,528

188,650

Cash at bank and in hand

905

30,805

437,470

461,803

CREDITORS

Amounts falling due within one year

8

432,248

371,234

NET CURRENT ASSETS

5,222

90,569

TOTAL ASSETS LESS CURRENT LIABILITIES

621,992

690,812

CREDITORS

Amounts falling due after more than one year

9

(358,644

)

(390,724

)

PROVISIONS FOR LIABILITIES

(17,073

)

(8,776

)

NET ASSETS

246,275

291,312

CAPITAL AND RESERVES

Called up share capital

1

1

Capital redemption reserve

1

1

Retained earnings

246,273

291,310

SHAREHOLDERS' FUNDS

246,275

291,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 July 2018 and were signed on its behalf by:

A E Barlow-Evans - Director

1.	STATUTORY INFORMATION

HMW 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

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

Revenue is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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

-

2% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Inventories 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the statement of financial position 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 9 (2017 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

2,200

At 31 January 2018

2,200

AMORTISATION

Charge for year

367

At 31 January 2018

367

NET BOOK VALUE

At 31 January 2018

1,833

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2017

615,199

46,434

75,038

736,671

Additions

15,995

476

29,390

45,861

Disposals

-

(10,385

)

-

(10,385

)

At 31 January 2018

631,194

36,525

104,428

772,147

DEPRECIATION

At 1 February 2017

29,950

38,441

68,039

136,430

Charge for year

12,624

3,206

14,346

30,176

Eliminated on disposal

-

(9,394

)

-

(9,394

)

At 31 January 2018

42,574

32,253

82,385

157,212

NET BOOK VALUE

At 31 January 2018

588,620

4,272

22,043

614,935

At 31 January 2017

585,249

7,993

6,999

600,241

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2017

and 31 January 2018

2

NET BOOK VALUE

At 31 January 2018

2

At 31 January 2017

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

6,955

6,680

Amounts owed by group undertakings

2,348

1,384

Other debtors

185,225

180,586

194,528

188,650

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

150,120

176,836

Hire purchase contracts

8,903

7,623

Trade creditors

257,947

165,583

Taxation and social security

4,051

4,800

Other creditors

11,227

16,392

432,248

371,234

HSBC has a fixed and floating charge over the undertaking and all property and assets present and

future and including goodwill. book debts, uncalled capital, buildings, fixtures, fixed plant and

machinery.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

348,258

390,724

Hire purchase contracts

10,386

-

358,644

390,724

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

256,309

274,612

HSBC has a fixed and floating charge over the undertaking and of all property and assets present and

future and including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and

machinery.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors due within one year is the amount of £990 (2017 - £1,880) due to the director

of the company. This balance is repayable on demand. No interest was charged on this loan balance

during the year.

11.	RELATED PARTY DISCLOSURES

During the year sale of goods totalling £Nil (2017 - £599) were made to Oakdale Furniture Limited, a

company which is 66% owned by HMW Limited. The balance owed for these supplies at the year end

was £Nil (2017 - £Nil). The company also operated a loan account with Oakdale Furniture Limited,

the balance owed to HMW Limited at the year end was £2,348 (2017 - £1,384).

12.	ULTIMATE CONTROLLING PARTY

Andrew Barlow-Evans owns 100% of the share capital in the company and so by virtue controls the

company.