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Unaudited Financial Statements |
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For The Year Ended 31 March 2018 |
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John Waddon (1967) Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 31 March 2018 |
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for |
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John Waddon (1967) Limited |
John Waddon (1967) Limited (Registered number: 00899027) |
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Contents of the Financial Statements |
For The Year Ended 31 March 2018 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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John Waddon (1967) Limited |
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Company Information |
For The Year Ended 31 March 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
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BANKERS: |
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Bridle Road |
Bootle |
Merseyside |
L30 4GB |
John Waddon (1967) Limited (Registered number: 00899027) |
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Abridged Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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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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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
John Waddon (1967) Limited (Registered number: 00899027) |
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Abridged Balance Sheet - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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John Waddon (1967) Limited (Registered number: 00899027) |
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Notes to the Financial Statements |
For The Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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John Waddon (1967) Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods and |
services provided in the normal course of business, and is shown net of VAT and other sales related |
taxes. The fair value of consideration takes into account trade discounts and settlement discounts. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of |
the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be |
measured reliably, it is probable that the economic benefits associated with the transaction will flow to |
the entity and the costs incurred or to be incurred in respect of the transaction can be measured |
reliably. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Computer equipment | - |
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No depreciation is provided on freehold buildings because in the directors opinion the real (inflated) estimated |
residual value is not less than the carrying value in the accounts. |
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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. |
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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. |
John Waddon (1967) Limited (Registered number: 00899027) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and |
Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party |
to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, |
when there is a legally enforceable right to set off the recognised amounts and there is an intention to |
settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially |
measured at transaction price including transaction costs and are subsequently carried at amortised |
cost using the effective interest method unless the arrangement constitutes a financing transaction, |
where the transaction is measured at the present value of the future receipts discounted at a market |
rate of interest. |
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Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators |
of impairment at each reporting end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more |
events that occurred after the initial recognition of the financial asset, the estimated future cash flows |
have been affected. The impairment loss is recognised in profit or loss. |
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Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset |
expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership |
to another entity. |
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Basic financial liabilities |
Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at |
transaction price unless the arrangement constitutes a financing transaction, where the debt instrument |
is measured at the present value of the future receipts discounted at a market rate of interest. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary |
course of business from suppliers. Trade creditors are classified as current liabilities if payment is due |
within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors |
are recognised initially at transaction price and subsequently measured at amortised cost using the |
effective interest method. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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John Waddon (1967) Limited (Registered number: 00899027) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2018 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2017 |
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Additions |
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Disposals | ( |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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