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REGISTERED NUMBER:
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WELSH DRAGON COAL LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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REGISTERED NUMBER:
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WELSH DRAGON COAL LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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WELSH DRAGON COAL LIMITED (REGISTERED NUMBER: 03169168) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 4 |
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WELSH DRAGON COAL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2017 |
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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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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditor |
3 New Mill Court |
Swansea Enterprise Park |
Swansea |
SA7 9FG |
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BANKERS: |
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WELSH DRAGON COAL LIMITED (REGISTERED NUMBER: 03169168) |
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BALANCE SHEET |
30 JUNE 2017 |
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2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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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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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
behalf by: |
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WELSH DRAGON COAL LIMITED (REGISTERED NUMBER: 03169168) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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1. | STATUTORY INFORMATION |
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Welsh Dragon Coal Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The particular accounting policies adopted, which have been applied consistently throughout the |
current and the prior financial year, are described below. |
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Going concern |
The company has net liabilities of £135,389 at the balance sheet date. The company has not traded |
during the year and the directors have no plans for the company to recommence trading in the |
foreseeable future. |
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Therefore the company is reliant on the continuing support of its related parties in not recalling |
£166,777 creditor for repayment in the foreseeable future. The directors are confident that this support |
will continue and the company can continue in existence for the foreseeable future. Accordingly, they |
continue to adopt the going concern basis in preparing the financial statements. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
WELSH DRAGON COAL LIMITED (REGISTERED NUMBER: 03169168) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed to participating interests |
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Amounts owed to group undertakings are due to the immediate parent company, Tower Colliery |
Limited. The balance is interest-free and has no fixed repayment terms. |
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4. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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5. | RELATED PARTY DISCLOSURES |
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Included in creditors is a balance of £
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6. | ULTIMATE CONTROLLING PARTY |
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The controlling party is
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There is no single controlling party of Goitre Tower Anthracite Limited. |
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Goitre Tower Anthracite Limited is the parent undertaking of the smallest and largest group of which |
the company is a member and for which group financial statements are drawn up. |
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Copies of its financial statements are available from Companies House, Crown Way, Maindy, Cardiff, |
CF14 3UZ. |
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7. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its financial statements under the Financial |
Reporting Standard 102 Section 1A small entities (FRS 102 1A) issued by the Financial Reporting |
Council. The following disclosures are required in the year of transition. The last financial statements |
under the previous Financial Reporting Standard for Smaller Entities (effective January 2015) (under |
UK GAAP for Smaller Entities) were for the year ended 30 June 2016 and the date of transition to FRS |
102 1A was therefore 1 July 2015. No adjustments have been made as a result. |