Registered number: 02024548 | ||||||||
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FOR THE YEAR ENDED 30/09/2018 | ||||||||
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Prepared By: | ||||||||
Delrose Consulting Limited | ||||||||
Chartered Management Accountants | ||||||||
Wittas House | ||||||||
Two Rivers | ||||||||
Station Lane | ||||||||
Witney | ||||||||
OX28 4BH |
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WESTON MITCHELL LIMITED | ||||||||
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BALANCE SHEET AT
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2018 | 2017 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 4 |
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Cash at bank and in hand |
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608,257 | 528,896 | |||||||||
CREDITORS: Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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302,484 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES AND CHARGES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 |
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Profit and loss account | 423,613 | 325,087 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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WESTON MITCHELL LIMITED | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 30/09/2018 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Depreciation | ||||||||
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Plant and Machinery | reducing balance 25% | |||||||
Commercial Vehicles | reducing balance 25% | |||||||
Fixtures and Fittings | reducing balance 15% | |||||||
Equipment | reducing balance 25% | |||||||
Motor Cars | reducing balance 25% |
1b. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1c. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1d. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A- The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. |
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WESTON MITCHELL LIMITED | ||||||||
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2. TANGIBLE FIXED ASSETS | ||||||||||||
Plant and | Commercial | Fixtures | ||||||||||
Machinery | Vehicles | and Fittings | Equipment | Motor Cars | Total | |||||||
£ | £ | £ | £ | £ | £ | |||||||
Cost | ||||||||||||
At 01/10/2017 | 25,084 | - | 41,028 | 28,188 | 9,900 | 104,200 | ||||||
Additions | 2,826 | 12,050 | 220 | 1,750 | - | 16,846 | ||||||
At 30/09/2018 | 27,910 | 12,050 | 41,248 | 29,938 | 9,900 | 121,046 | ||||||
Depreciation | ||||||||||||
At 01/10/2017 | 14,384 | - | 31,884 | 22,274 | 6,403 | 74,945 | ||||||
For the year | 3,382 | 3,887 | 1,404 | 1,916 | - | 10,589 | ||||||
At 30/09/2018 | 17,766 | 3,887 | 33,288 | 24,190 | 6,403 | 85,534 | ||||||
Net Book Amounts | ||||||||||||
At 30/09/2018 |
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35,512 | ||||||
At 30/09/2017 |
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29,255 | ||||||
3. STOCK | 2018 | 2017 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock |
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4. DEBTORS | 2018 | 2017 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 37,725 | 42,741 | ||||||
Prepayments | 59,263 | 50,128 | ||||||
Directors' Loan accounts | 58,894 | - | ||||||
155,882 | 92,869 | |||||||
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WESTON MITCHELL LIMITED | ||||||||
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5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2018 | 2017 | |||||||
£ | £ | |||||||
UK corporation tax | 28,916 | 42,435 | ||||||
VAT | 17,520 | 14,320 | ||||||
Credit card | 1,861 | 607 | ||||||
Trade creditors | 160,190 | 164,815 | ||||||
Accruals | 3,964 | 4,235 | ||||||
212,451 | 226,412 | |||||||
6. EMPLOYEES | ||||||
2018 | 2017 | |||||
No. | No. | |||||
Average number of employees | 15 | 15 | ||||
7. PROVISIONS FOR LIABILITIES | 2018 | 2017 | ||||||
£ | £ | |||||||
Deferred taxation | 6,705 | 5,652 | ||||||
6,705 | 5,652 | |||||||
8. SHARE CAPITAL | 2018 | 2017 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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1000 | 1000 | ||||||
1,000 | 1,000 | |||||||
9. DIRECTORS' TRANSACTIONS | ||||||||
The directors had loans during the year - interest was charged at the official rate. | ||||||||
Director A - £48,754 at 30 September 2018 ( 2017: nil). Maximum amount in the year was £48,754. No repayments were made in the year. | ||||||||
Director B- £10,139 at 30 September 2018 ( 2017: nil). Maximum amount in the year was £10,139. No repayments were made in the year. |