White Horse Bedding Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07014905 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2018

for

White Horse Bedding Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Fitzgerald

J D Fitzgerald

REGISTERED OFFICE:

Unit 5

Cirencester Office Park

Cirencester

Gloucestershire

GL7 6JJ

REGISTERED NUMBER:

07014905 (England and Wales)

ACCOUNTANTS:

Silbury Business Advisers Limited

Chartered Accountants

Venture House

Calne Road

Lyneham

Chippenham

SN15 4PP

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

43,238

26,003

43,238

26,003

CURRENT ASSETS

Inventories

349,101

347,409

Debtors

6

315,287

134,229

Cash at bank

29,423

147,587

693,811

629,225

CREDITORS

Amounts falling due within one year

7

457,531

367,502

NET CURRENT ASSETS

236,280

261,723

TOTAL ASSETS LESS CURRENT LIABILITIES

279,518

287,726

CREDITORS

Amounts falling due after more than one year

8

(266,891

)

(269,673

)

PROVISIONS FOR LIABILITIES

(8,215

)

(5,201

)

NET ASSETS

4,412

12,852

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

3,412

11,852

SHAREHOLDERS' FUNDS

4,412

12,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 20 November 2018 and were signed on its behalf by:

S Fitzgerald - Director

1.	STATUTORY INFORMATION

White Horse Bedding 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Intangible assets

Intangible assets are amortised on a straight line basis over four years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Inventories 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 statement of financial position date.

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.

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 14 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2017

and 28 February 2018

7,256

AMORTISATION

At 1 March 2017

and 28 February 2018

7,256

NET BOOK VALUE

At 28 February 2018

-

At 28 February 2017

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 March 2017

41,523

Additions

31,643

At 28 February 2018

73,166

DEPRECIATION

At 1 March 2017

15,520

Charge for year

14,408

At 28 February 2018

29,928

NET BOOK VALUE

At 28 February 2018

43,238

At 28 February 2017

26,003

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade debtors

54,667

-

Cardnet time lag

181,725

73,295

Directors' current accounts

59,574

50,125

s455 tax recoverable

19,321

-

VAT

-

10,809

315,287

134,229

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Bank loans and overdrafts

47,634

-

Trade creditors

234,167

324,147

Taxation and social security

48,658

21,850

Other creditors

127,072

21,505

457,531

367,502

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.18

28.2.17

£

£

Other creditors

266,891

269,673

Included in the above is an amount of £245,175 due to Prosea International Limited.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

28.2.18

28.2.17

£

£

Within one year

34,879

34,879

Between one and five years

49,412

87,198

84,291

122,077

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.18

28.2.17

value:

£

£

1,000

ordinary

£1

1,000

1,000

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2018

and 28 February 2017:

28.2.18

28.2.17

£

£

S Fitzgerald

Balance outstanding at start of year

50,125

-

Amounts advanced

59,449

50,125

Amounts repaid

(50,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

59,574

50,125

Interest has been charged at 2.5%.

12.	RELATED PARTY DISCLOSURES

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