Waverley Contract & Supply Limited - Accounts to registrar (filleted) - small 18.2
Waverley Contract & Supply Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| Waverley Contract & Supply Limited |
| Waverley Contract & Supply Limited (Registered number: 07549979) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Waverley Contract & Supply Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chancery House |
| 30 St Johns Road |
| Woking |
| Surrey |
| GU21 7SA |
| Waverley Contract & Supply Limited (Registered number: 07549979) |
| Statement of Financial Position |
| 31 March 2018 |
| 31/3/18 | 31/3/17 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Property, plant and equipment | 6 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 7 |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Waverley Contract & Supply Limited (Registered number: 07549979) |
| Statement of Financial Position - continued |
| 31 March 2018 |
| 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 |
| Waverley Contract & Supply Limited (Registered number: 07549979) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Waverley Contract & Supply Limited is a |
| The company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Goodwill |
| Goodwill, representing the excess of the purchase price compared with the fair value of net assets acquired, is |
| capitalised and written off evenly over the number of years which, in the opinion of the directors, represents the |
| goodwill's useful economic life, as follows:- |
| Goodwill paid on incorporation - 20 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 |
| Fixtures, fittings & equipment | - |
| Motor vehicles | - |
| Stocks and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value. Cost of finished goods and |
| work in progress includes overheads appropriate to the stage of manufacture. Net realisable value is based upon |
| estimated selling price less further costs expected to be incurred to completion and disposal. Provision is made |
| 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. |
| Waverley Contract & Supply Limited (Registered number: 07549979) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken to the income statement. |
| Hire purchase and leasing commitments |
| Where assets are financed by leasing agreements that give rights approximating to ownership ("finance leases"), |
| the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the |
| minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as |
| obligations to the lessor. |
| Lease payments are treated as consisting of capital and interest elements, and the interest is charged to the profit |
| and loss account in proportion to the remaining balance outstanding. |
| All other leases are "operating leases" and the annual rentals are charged to the income statement on a straight |
| line basis over the lease term. |
| 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 the income statement in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Waverley Contract & Supply Limited (Registered number: 07549979) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| Reclassification/transfer |
| At 31 March 2018 |
| Amortisation |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures, |
| fittings | Motor |
| & equipment | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 March 2018 |
| Depreciation |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| Waverley Contract & Supply Limited (Registered number: 07549979) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 6. | PROPERTY, PLANT AND EQUIPMENT - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures, |
| fittings | Motor |
| & equipment | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2018 |
| Depreciation |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| Waverley Contract & Supply Limited (Registered number: 07549979) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Bank overdrafts |
| Hire purchase contracts | 186,665 | 70,725 |
| 11. | PROVISIONS FOR LIABILITIES |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2017 |
| Charge to Income Statement during year |
| Balance at 31 March 2018 |
| 12. | CAPITAL COMMITMENTS |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 13. | OTHER FINANCIAL COMMITMENTS |
| At the balance sheet date the company had total future financial commitments under operating leases which are |
| not included in the balance sheet totalling £378,253 (2017: £158,206). |