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 2020 |
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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 2020 |
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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 2020 |
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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 2020 |
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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 2020 |
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2020 | 2019 |
Notes | £ | £ |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 and authorised for issue on
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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 2020 |
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1. | STATUTORY INFORMATION |
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Welsh Dragon Coal Limited is a
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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 £135,389 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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The directors have assessed the impact of the Covid-19 pandemic on the company's going concern position. While considerable uncertainty remains, in the opinion of the directors Covid-19 will not adversely affect the ability of the company to continue trading for the foreseeable future. |
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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 2020 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed to group undertakings | 135,389 | 135,389 |
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5. | 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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6. | RELATED PARTY DISCLOSURES |
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Included in creditors is a balance of £ 135,389 (2019 - £135,389) due to Tower Colliery Limited , a fellow subsidiary of the parent company, Goitre Tower Anthracite Limited. The balance is interest free and repayable on demand . |
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7. | 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. |