Water Coolers Direct.com Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05961387 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

WATER COOLERS DIRECT.COM HOLDINGS

LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

F K Cairns Palmer

P N Glanville

A D Prockter

SECRETARY:

F K Cairns Palmer

REGISTERED OFFICE:

Clearview House

Unit 24, Bamel Way

Gloucester Business Park, Brockworth

Gloucester

Gloucestershire

GL3 4BH

REGISTERED NUMBER:

05961387 (England and Wales)

ACCOUNTANTS:

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

FIXED ASSETS

Tangible assets

4

639,084

639,084

Investments

5

442

442

639,526

639,526

CURRENT ASSETS

Debtors

78,832

35,420

Cash at bank

2,905

12,662

81,737

48,082

CREDITORS

Amounts falling due within one year

(204,609

)

(180,268

)

NET CURRENT LIABILITIES

(122,872

)

(132,186

)

TOTAL ASSETS LESS CURRENT LIABILITIES

516,654

507,340

CREDITORS

Amounts falling due after more than one year

6

(243,046

)

(259,657

)

NET ASSETS

273,608

247,683

CAPITAL AND RESERVES

Called up share capital

8

8,459

8,459

Share premium

56,333

56,333

Retained earnings

208,816

182,891

SHAREHOLDERS' FUNDS

273,608

247,683

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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 December 2018 and were signed on its behalf by:

F K Cairns Palmer - Director

1.	STATUTORY INFORMATION

Water Coolers Direct.com Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Freehold property has not been depreciated as the directors are of the opinion that, as the asset has

been kept in a continual state of sound repair, its useful life is so long, and its residual value so high,

that depreciation is not significant.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

639,084

NET BOOK VALUE

At 31 March 2018

639,084

At 31 March 2017

639,084

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2017

and 31 March 2018

442

NET BOOK VALUE

At 31 March 2018

442

At 31 March 2017

442

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.18

31.3.17

£

£

Repayable by instalments

Bank loans more 5 yr by instal

168,262

184,873

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank loans

261,742

278,353

The bank loan commenced on 28 February 2008 for a period of 25 years, with monthly repayments

commencing in March 2011. Interest is payable at a rate of 1.8% over bank base rate.

The loan is secured by a fixed charge over the company's freehold property, supported by limited and

several guarantees from five individual shareholders.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

516

Preferred Ordinary

£1

516

516

7,943

Ordinary

£1

7,943

7,943

8,459

8,459

9.	RELATED PARTY DISCLOSURES

Watercoolers Direct.Com Limited

Fellow subsidiary company

At the year end the amount due to the subsidiary undertaking, Watercoolers Direct.Com Limited, was

£175,924 (2017: £151,334). During the year the company charged its subsidiary undertaking rent on a

commercial basis of £42,000 (2017: £42,000) for the use of its business premises.

Routes Direct Limited

Fellow subsidiary company

During the year, Watercoolers Direct.com Holdings Limited advanced a further £47,950 (2017:

£30,000) to Routes Direct Limited, as working capital. At the year end the amount owed from the

subsidiary undertaking, Routes Direct Limited, was £77,590 (2017: £30,000). The advance is

unsecured and remains repayable on demand, although no terms of repayment or interest have been

agreed.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Water Coolers Direct.com Holdings Limited for the year ended 31 March 2018

which comprise the Statement of Income and Retained Earnings, Abridged Statement of Financial Position

and the 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Water Coolers Direct.com Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Water Coolers Direct.com Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Water Coolers Direct.com Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Water Coolers Direct.com Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Water Coolers Direct.com Holdings 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 Water Coolers Direct.com Holdings Limited. You consider that Water Coolers Direct.com Holdings 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 Water Coolers Direct.com Holdings 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.

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

19 December 2018