Woodward Hambly Webb Ltd - Period Ending 2018-04-30
Woodward Hambly Webb Ltd - Period Ending 2018-04-30
Registration number:
for the Year Ended
Pages for filing with Registrar
Woodward Hambly Webb Ltd
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Woodward Hambly Webb Ltd
Company Information
Directors |
L A Hambly B Woodward |
Registered office |
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Registered number |
05504253 |
Accountants |
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Woodward Hambly Webb Ltd
(Registration number: 05504253)
Balance Sheet as at 30 April 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 2 |
Woodward Hambly Webb Ltd
(Registration number: 05504253)
Balance Sheet as at 30 April 2018
For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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L A Hambly
Director
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B Woodward
Director
Page 3 |
Woodward Hambly Webb Ltd
Statement of Changes in Equity for the Year Ended 30 April 2018
Share capital |
Profit and loss account |
Total |
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At 1 May 2017 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 30 April 2018 |
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Share capital |
Profit and loss account |
Total |
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At 1 May 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 30 April 2017 |
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Page 4 |
Woodward Hambly Webb Ltd
Notes to the Financial Statements for the Year Ended 30 April 2018
Statutory information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 5 |
Woodward Hambly Webb Ltd
Notes to the Financial Statements for the Year Ended 30 April 2018
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment |
25% on reducing balance |
Short leasehold |
25% on reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less any provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Page 6 |
Woodward Hambly Webb Ltd
Notes to the Financial Statements for the Year Ended 30 April 2018
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.
Termination benefits are recognised immediately as an expenses when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 7 |
Woodward Hambly Webb Ltd
Notes to the Financial Statements for the Year Ended 30 April 2018
Tangible assets |
Land and buildings |
Improvements to property |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 May 2017 |
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- |
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Additions |
- |
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At 30 April 2018 |
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Depreciation |
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At 1 May 2017 |
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- |
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Charge for the year |
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At 30 April 2018 |
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Carrying amount |
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At 30 April 2018 |
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At 30 April 2017 |
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- |
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Debtors: amounts falling due within one year |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Page 8 |
Woodward Hambly Webb Ltd
Notes to the Financial Statements for the Year Ended 30 April 2018
Creditors: amounts falling due within one year |
Note |
2018 |
2017 |
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Trade creditors |
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Social security and other taxes |
744 |
1,628 |
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VAT |
11,867 |
21,932 |
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Other creditors |
21,074 |
20,792 |
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Accruals |
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Corporation tax control |
4,500 |
22,364 |
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Directors' loan accounts |
4,944 |
4,944 |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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33 |
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33 |
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33 |
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33 |
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33 |
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33 |
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Loans and borrowings |
2018 |
2017 |
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Current loans and borrowings |
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Directors' loan accounts |
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Page 9 |