W B Yorkshire South Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08895018 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

W B YORKSHIRE SOUTH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs HL Straw

REGISTERED OFFICE:

Enterprise House

Enterprise Business Centre

Carlton Road

Worksop

Nottinghamshire

S81 7QF

REGISTERED NUMBER:

08895018 (England and Wales)

FIXED ASSETS

Intangible assets

4

90,000

104,950

Tangible assets

5

398

1,417

90,398

106,367

CURRENT ASSETS

Stocks

3,131

1,998

Debtors

6

9,884

9,309

Cash at bank and in hand

97,763

118,197

110,778

129,504

CREDITORS

Amounts falling due within one year

7

143,624

149,707

NET CURRENT LIABILITIES

(32,846

)

(20,203

)

TOTAL ASSETS LESS CURRENT LIABILITIES

57,552

86,164

CREDITORS

Amounts falling due after more than one year

8

(38,000

)

(57,000

)

PROVISIONS FOR LIABILITIES

(76

)

(384

)

NET ASSETS

19,476

28,780

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

19,475

28,779

SHAREHOLDERS' FUNDS

19,476

28,780

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 17 October 2018 and were signed by:

Mrs HL Straw - Director

1.	STATUTORY INFORMATION

W B Yorkshire South Ltd 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 2014, is being amortised evenly over its estimated useful life of ten years.

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

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and realisable value after estimated costs to sell and after

making due allowance for obsolete and slow moving items and less estimated costs to sell.

Financial instruments

FINANCIAL ASSETS

Trade and other debtors

Trade and other debtors (including accrued income) which are receivable within one year and which

do not constitute a financing transaction are initially measured at the transaction price and

subsequently measured at amortised cost, being the transaction price less any amounts settled and

any impairment losses.

A provision for impairment of trade debtors is established where there is objective evidence that the

amounts due will not be collected according to the original terms of the contract. Impairment losses

are recognised in the income statement for the excess of the carrying value of the trade debtor over

the present value of the future cash flows discounted using the original effective interest rate.

Subsequent reversals of an impairment loss that objectively relate to an event occurring after the

impairment loss was recognised, are recognised immediately in the income statement..

FINANCIAL LIABILITIES

Other creditors

other creditors (including accruals) payable within one year that do not constitute a financing

transaction are initially measured at the transaction price and subsequently measured at amortised

cost, being transaction price less any amounts settled.

Derecognition of financial assets and liabilities

A financial asset is only derecognised when the contractual rights to cash flows expire or are settled,

or substantially all the risks and rewards of ownership are transferred to another party, or if some

significant risks and rewards of ownership are retained but control of the asset has transferred to

another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability

(or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled

or expires.

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 lease are charged to the income statement 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 the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2017

and 31 July 2018

149,500

AMORTISATION

At 1 August 2017

44,550

Charge for year

14,950

At 31 July 2018

59,500

NET BOOK VALUE

At 31 July 2018

90,000

At 31 July 2017

104,950

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2017

and 31 July 2018

750

4,293

5,043

DEPRECIATION

At 1 August 2017

750

2,876

3,626

Charge for year

-

1,019

1,019

At 31 July 2018

750

3,895

4,645

NET BOOK VALUE

At 31 July 2018

-

398

398

At 31 July 2017

-

1,417

1,417

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/18

31/7/17

£

£

Trade debtors

1,769

190

Other debtors

8,115

9,119

9,884

9,309

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/18

31/7/17

£

£

Bank loans and overdrafts

19,000

19,000

Trade creditors

18,109

24,437

Taxation and social security

29,982

32,002

Other creditors

76,533

74,268

143,624

149,707

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/7/18

31/7/17

£

£

Bank loans

38,000

57,000

9.	LEASING AGREEMENTS

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

31/7/18

31/7/17

£

£

Within one year

1,592

4,777

Between one and five years

-

1,592

1,592

6,369

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/7/18

31/7/17

£

£

Bank loans

57,000

76,000

The bank loan is secured by a fixed and floating charge over all the company's assets.