J W Clark Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04620779 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018

FOR

J W CLARK LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J W Clark

REGISTERED OFFICE:

Thistle Down Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

REGISTERED NUMBER:

04620779 (England and Wales)

ACCOUNTANTS:

Elsby & Co

Thistle Down Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

471,787

390,162

Investments

6

1

1

471,788

390,163

CURRENT ASSETS

Stocks

24,541

17,638

Debtors

280,334

334,074

Cash at bank and in hand

9,252

2,073

314,127

353,785

CREDITORS

Amounts falling due within one year

475,089

490,620

NET CURRENT LIABILITIES

(160,962

)

(136,835

)

TOTAL ASSETS LESS CURRENT LIABILITIES

310,826

253,328

CREDITORS

Amounts falling due after more than one year

(228,979

)

(187,066

)

PROVISIONS FOR LIABILITIES

(80,094

)

(66,060

)

NET ASSETS

1,753

202

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

1,751

200

SHAREHOLDERS' FUNDS

1,753

202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 Balance Sheet for the year ended 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 director on 10 October 2018 and were signed by:

J W Clark - Director

1.	STATUTORY INFORMATION

J W Clark 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has now been fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at fair value.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under

hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

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 21 (2017 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

and 30 April 2018

15,500

AMORTISATION

At 1 May 2017

and 30 April 2018

15,500

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

695,683

Additions

314,286

Disposals

(236,095

)

At 30 April 2018

773,874

DEPRECIATION

At 1 May 2017

305,521

Charge for year

131,900

Eliminated on disposal

(135,334

)

At 30 April 2018

302,087

NET BOOK VALUE

At 30 April 2018

471,787

At 30 April 2017

390,162

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 May 2017

558,395

Additions

301,103

Disposals

(229,595

)

At 30 April 2018

629,903

DEPRECIATION

At 1 May 2017

219,820

Charge for year

116,542

Eliminated on disposal

(130,786

)

At 30 April 2018

205,576

NET BOOK VALUE

At 30 April 2018

424,327

At 30 April 2017

338,575

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 May 2017

and 30 April 2018

1

NET BOOK VALUE

At 30 April 2018

1

At 30 April 2017

1

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

347,441

260,717

The liabilities are secured on the assets to which they relate.

The director has provided a personal guarantee totalling £34,000.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

9.	CAPITAL COMMITMENTS

2018

2017

£

£

Contracted but not provided for in the

financial statements

27,947

-

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2018 and 30 April 2017:

2018

2017

£

£

J W Clark

Balance outstanding at start of year

66,460

101,989

Amounts advanced

74,478

61,564

Amounts repaid

(80,670

)

(97,093

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

60,268

66,460

Interest was charged on this balance at a rate of 2.5% (2016 3%).