North West Bird Control Limited 31/03/2018 iXBRL

North West Bird Control Limited 31/03/2018 iXBRL

NORTH WEST BIRD CONTROL LTD - Company Information

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Company registration number: 7911994
North West Bird Control Limited
Unaudited filleted financial statements
31 March 2018
North West Bird Control Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
North West Bird Control Limited
Directors and other information
Directors Mr Ian Whittaker
Mrs Susan Whittaker
Secretary Susan Whittaker
Company number 7911994
Registered office Riverside Offices
26 St. Georges Quay
Lancaster
Lancashire
LA1 1RD
Business address Newbiggin Farm
Newbiggin
Hutton Roof
Carnforth
LA6 2PL
Accountants Paul Clegg & Company
Riverside Offices
26 St. Georges Quay
Lancaster
Lancashire
LA1 1RD
North West Bird Control Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of North West Bird Control Limited
Year ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North West Bird Control Limited for the year ended 31 March 2018 which comprise the statement of financial position and 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of North West Bird Control Limited, as a body, in accordance with the terms of our engagement letter dated 23 October 2017. Our work has been undertaken solely to prepare for your approval the financial statements of North West Bird Control Limited and state those matters that we have agreed to state to the board of directors of North West Bird Control Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North West Bird Control Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that North West Bird Control 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 North West Bird Control Limited. You consider that North West Bird Control 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 North West Bird Control 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.
Paul Clegg & Company
Chartered Accountants
Riverside Offices
26 St. Georges Quay
Lancaster
Lancashire
LA1 1RD
23 October 2018
North West Bird Control Limited
Statement of financial position
31 March 2018
2018 2017
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 161,896 177,598
_______ _______
161,896 177,598
Current assets
Stocks 23,053 17,683
Debtors 7 123,219 116,147
Cash at bank and in hand 594,425 687,527
_______ _______
740,697 821,357
Creditors: amounts falling due
within one year 8 ( 324,240) ( 518,130)
_______ _______
Net current assets 416,457 303,227
_______ _______
Total assets less current liabilities 578,353 480,825
Provisions for liabilities ( 30,760) ( 39,158)
_______ _______
Net assets 547,593 441,667
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 547,493 441,567
_______ _______
Shareholders funds 547,593 441,667
_______ _______
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 October 2018 , and are signed on behalf of the board by:
Mrs Susan Whittaker
Director
Company registration number: 7911994
North West Bird Control Limited
Notes to the financial statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is North West Bird Control Limited, Riverside Offices, 26 St. Georges Quay, Lancaster, Lancashire, LA1 1RD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements have been rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 33 % reducing balance
Motor vehicles - 20 % reducing balance
User defined asset - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2017: 6 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2017 and 31 March 2018 420,000 420,000
_______ _______
Amortisation
At 1 April 2017 and 31 March 2018 420,000 420,000
_______ _______
Carrying amount
At 31 March 2018 - -
_______ _______
At 31 March 2017 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Falcons Total
£ £ £ £ £
Cost
At 1 April 2017 129,389 9,805 87,706 18,274 245,174
Additions 2,000 9,862 1,750 12,315 25,927
Disposals ( 7,828) ( 1,316) - ( 2,925) ( 12,069)
_______ _______ _______ _______ _______
At 31 March 2018 123,561 18,351 89,456 27,664 259,032
_______ _______ _______ _______ _______
Depreciation
At 1 April 2017 24,902 1,904 37,830 2,940 67,576
Charge for the year 15,945 3,905 10,296 5,538 35,684
Disposals ( 4,354) ( 1,066) - ( 704) ( 6,124)
_______ _______ _______ _______ _______
At 31 March 2018 36,493 4,743 48,126 7,774 97,136
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2018 87,068 13,608 41,330 19,890 161,896
_______ _______ _______ _______ _______
At 31 March 2017 104,487 7,901 49,876 15,334 177,598
_______ _______ _______ _______ _______
7. Debtors
2018 2017
£ £
Trade debtors 86,516 93,899
Other debtors 36,703 22,248
_______ _______
123,219 116,147
_______ _______
8. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 38,994 20,173
Corporation tax 29,071 58,957
Social security and other taxes 14,542 34,593
Other creditors 241,633 404,407
_______ _______
324,240 518,130
_______ _______
9. Called up share capital
Issued, called up and fully paid
2018 2017
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
10. Related party transactions
During the year the company was charged costs to hire machinery by a connected party totalling £6,000 (2017 - £1,000).
11. Controlling party
The Company was under the control of its directors during the year .