J.W.H. Bran (Chemists) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00628442 (England and Wales)

J.W.H. BRAN (CHEMISTS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MAY 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

Mr M J Bran

Mrs B K Bran

SECRETARY:

Mrs B K Bran

REGISTERED OFFICE:

Galen

Swindon Road

Highworth

SWINDON

Wiltshire

SN6 7DE

REGISTERED NUMBER:

00628442 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

National Westminster Bank Plc

84 Commercial Road

SWINDON

Wiltshire

SN1 5NW

FIXED ASSETS

Tangible assets

4

12,229

15,630

Investment property

5

480,000

480,000

492,229

495,630

CURRENT ASSETS

Debtors

6

1,866

2,641

Cash at bank

579,480

646,843

581,346

649,484

CREDITORS

Amounts falling due within one year

7

5,657

5,141

NET CURRENT ASSETS

575,689

644,343

TOTAL ASSETS LESS CURRENT LIABILITIES

1,067,918

1,139,973

PROVISIONS FOR LIABILITIES

8

22,697

23,767

NET ASSETS

1,045,221

1,116,206

CAPITAL AND RESERVES

Called up share capital

9

202,107

202,107

Retained earnings

10

843,114

914,099

SHAREHOLDERS' FUNDS

1,045,221

1,116,206

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 17th August 2018 and were signed on its behalf by:

Mr M J Bran - Director

1.	STATUTORY INFORMATION

J.W.H Bran (Chemists) Limited is a private limited company, limited by shares, registered in

England and Wales. The company's registered office address is Galen, Swindon Road, Highworth,

Swindon, SN6 7DE . The company's registered number can be found on the statement of financial

position.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine the period of useful economic life and any residual value of all tangible fixed assets

order to write off the value of each asset over that period.

- Determine the basis of the fair value of the investment property using the director's knowledge

of the market and his estimate

Turnover

Turnover represents the fair amount of consideration received or receivable for the provision

property rental services during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising

from changes in fair value is recognised in profit or loss.

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial

liabilities , including loans, are measured initially at fair value, net of transaction costs, and are

measured subsequently at amortised cost using the effective interest method.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st June 2017

33,028

Additions

432

At 31st May 2018

33,460

DEPRECIATION

At 1st June 2017

17,398

Charge for year

3,833

At 31st May 2018

21,231

NET BOOK VALUE

At 31st May 2018

12,229

At 31st May 2017

15,630

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st June 2017

and 31st May 2018

480,000

NET BOOK VALUE

At 31st May 2018

480,000

At 31st May 2017

480,000

Fair value at 31st May 2018 is represented by:

£

Valuation in 2005

195,763

Valuation in 2010

70,000

Valuation in 2015

25,000

Valuation in 2017

66,085

Cost

123,152

480,000

If investment properties had not been revalued they would have been included at the following

historical cost:

2018

2017

£

£

Cost

123,152

123,152

Investment properties were valued on an open market basis on 31st May 2018 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

1,866

2,641

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

1,896

1,624

Other creditors

3,761

3,517

5,657

5,141

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Accelerated capital allowances

42

42

Deferred tax losses

(554

)

(1,025

)

Property revaluation

23,209

24,750

22,697

23,767

Deferred

tax

£

Balance at 1st June 2017

23,767

Credit to Statement of Comprehensive Income during year

(1,070

)

Balance at 31st May 2018

22,697

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

202,107

Ordinary

£1

202,107

202,107

10.

RESERVES

Included within retained earnings is £347,427 (2017: £345,886) which is un-distributable. This

amount represents the difference between the fair value at the reporting date and the cost at

initial recognition of the investment property, after taking into account any relevant deferred tax

liability.