Window on Wales Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03745693 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2018

for

Window on Wales Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs I J Prickett

Mr P.M Prickett

SECRETARY:

Mrs I J Prickett

REGISTERED OFFICE:

Williamston House

7 Goat Street

Haverfordwest

Pembrokeshire

SA61 1PX

REGISTERED NUMBER:

03745693 (England and Wales)

SOLICITORS:

Eaton Evans and Morris

Dark Street

HAVERFORDWEST

Pembrokeshire

SA61 2DB

FIXED ASSETS

Intangible assets

4

-

2,267

Tangible assets

5

10,850

11,394

10,850

13,661

CURRENT ASSETS

Stocks

6

204,772

188,015

Debtors

7

1,463

1,638

Cash at bank and in hand

167,639

107,333

373,874

296,986

CREDITORS

Amounts falling due within one year

8

48,911

51,885

NET CURRENT ASSETS

324,963

245,101

TOTAL ASSETS LESS CURRENT LIABILITIES

335,813

258,762

PROVISIONS FOR LIABILITIES

1,923

2,250

NET ASSETS

333,890

256,512

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Retained earnings

332,690

255,312

SHAREHOLDERS' FUNDS

333,890

256,512

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 6 August 2018 and were signed on its behalf by:

Mrs I J Prickett - Director

Mr P.M Prickett - Director

1.	STATUTORY INFORMATION

Window on Wales 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

Turnover represents net sales made via retail shops excluding VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

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

Improvements to leasehold property

-

4% on cost

Fixtures and fittings

-

15% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2017

272,000

Disposals

(272,000

)

At 31 January 2018

-

AMORTISATION

At 1 February 2017

269,733

Charge for year

2,267

Eliminated on disposal

(272,000

)

At 31 January 2018

-

NET BOOK VALUE

At 31 January 2018

-

At 31 January 2017

2,267

5.	TANGIBLE FIXED ASSETS

Improvements

to

Fixtures

leasehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 February 2017

692

-

36,658

14,739

52,089

Additions

-

1,631

-

-

1,631

At 31 January 2018

692

1,631

36,658

14,739

53,720

DEPRECIATION

At 1 February 2017

56

-

27,169

13,470

40,695

Charge for year

27

408

1,423

317

2,175

At 31 January 2018

83

408

28,592

13,787

42,870

NET BOOK VALUE

At 31 January 2018

609

1,223

8,066

952

10,850

At 31 January 2017

636

-

9,489

1,269

11,394

6.

STOCKS

31.1.18

31.1.17

£

£

Stocks

204,772

188,015

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Prepayments

1,463

1,638

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Corporation Tax

26,035

26,274

Social Security and Other Taxes

322

564

VAT

12,725

11,326

Directors' current accounts

3,554

7,556

Accrued expenses

6,275

6,165

48,911

51,885

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2018 and

31 January 2017:

31.1.18

31.1.17

£

£

Mrs I J Prickett and Mr P.M Prickett

Balance outstanding at start of year

(7,556

)

(2,383

)

Amounts advanced

54,001

84,827

Amounts repaid

(50,000

)

(90,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,555

)

(7,556

)

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 (2017 - £70,000) were paid to the directors .