Whitakers (South West) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08413422 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

WHITAKERS (SOUTH WEST) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N C Powell FCA

S G Hawkey FCA

L P Sole FCA

REGISTERED OFFICE:

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

REGISTERED NUMBER:

08413422 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,272

12,632

10,272

12,632

CURRENT ASSETS

Stocks

30,767

28,536

Debtors

6

417,215

376,685

Cash at bank and in hand

117,065

84,698

565,047

489,919

CREDITORS

Amounts falling due within one year

7

125,600

114,664

NET CURRENT ASSETS

439,447

375,255

TOTAL ASSETS LESS CURRENT LIABILITIES

449,719

387,887

CREDITORS

Amounts falling due after more than one year

8

(120,000

)

(186,000

)

PROVISIONS FOR LIABILITIES

(944

)

(1,173

)

NET ASSETS

328,775

200,714

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

328,625

200,564

SHAREHOLDERS' FUNDS

328,775

200,714

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 18 June 2018 and were signed on its behalf by:

N C Powell FCA - Director

S G Hawkey FCA - Director

L P Sole FCA - Director

1.	STATUTORY INFORMATION

Whitakers (South West) 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 invoiced sales of goods and services, excluding value added tax, except in respect of

service contracts where it is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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

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 16 (2017 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

200,000

AMORTISATION

At 1 April 2017

and 31 March 2018

200,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

12,934

12,014

24,948

DEPRECIATION

At 1 April 2017

4,950

7,366

12,316

Charge for year

1,198

1,162

2,360

At 31 March 2018

6,148

8,528

14,676

NET BOOK VALUE

At 31 March 2018

6,786

3,486

10,272

At 31 March 2017

7,984

4,648

12,632

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

219,872

198,276

Amounts recoverable on contract

167,208

157,525

Prepayments and accrued income

30,135

20,884

417,215

376,685

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

3,284

1,556

Tax

71,068

56,238

Social security and other taxes

46,906

50,889

Amounts owed to clients

413

413

Accruals and deferred income

3,929

5,568

125,600

114,664

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Directors' loan accounts

120,000

186,000

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors by virtue of the fact that between them they control 100% of the

company's ordinary shares.