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Company registration number:
NI625948
A W Solutions (NI) Ltd
Unaudited filleted financial statements
31 August 2018
Barry Thompson and Company
Chartered Accountant
76-78 Church Street
Portadown
A W Solutions (NI) Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
A W Solutions (NI) Ltd
Directors and other information
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Director
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A J Wilson
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Company number
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NI625948
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Registered office
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76-78 Church Street
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Portadown
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Co Armagh
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BT62 3EU
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Accountants
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Barry Thompson and Company
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76-78 Church Street
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Portadown
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Armagh
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BT62 3EU
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A W Solutions (NI) Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of A W Solutions (NI) Ltd
Year ended 31 August 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A W Solutions (NI) Ltd for the year ended 31 August 2018 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the director of A W Solutions (NI) Ltd, as a body, in accordance with the terms of our engagement letter dated 31 August 2017. Our work has been undertaken solely to prepare for your approval the financial statements of A W Solutions (NI) Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A W Solutions (NI) Ltd and its director as a body for our work or for this report.
It is your duty to ensure that A W Solutions (NI) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A W Solutions (NI) Ltd. You consider that A W Solutions (NI) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of A W Solutions (NI) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Barry Thompson and Company
Chartered Accountant
76-78 Church Street
Portadown
Armagh
BT62 3EU
29 May 2019
A W Solutions (NI) Ltd
Statement of financial position
31 August 2018
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2018
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2017
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Note
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£
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£
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£
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£
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Current assets
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Stocks
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-
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664
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Debtors
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5
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14,795
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6,220
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_______
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_______
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14,795
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6,884
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Creditors: amounts falling due
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within one year
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6
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(
13,853)
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(
6,634)
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_______
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_______
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Net current assets
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942
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250
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_______
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_______
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Total assets less current liabilities
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942
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250
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_______
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_______
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Net assets
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942
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250
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_______
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_______
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Capital and reserves
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Called up share capital
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1
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1
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Profit and loss account
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941
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249
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_______
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_______
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Shareholders funds
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942
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250
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_______
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_______
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For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 May 2019
, and are signed on behalf of the board by:
A J Wilson
Director
Company registration number:
NI625948
A W Solutions (NI) Ltd
Statement of changes in equity
Year ended 31 August 2018
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Called up share capital
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Profit and loss account
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Total
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£
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£
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£
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At 1 September 2016
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1
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366
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367
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Profit for the year
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1,883
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1,883
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_______
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_______
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_______
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Total comprehensive income for the year
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-
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1,883
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1,883
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Dividends paid and payable
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(
2,000)
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(
2,000)
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_______
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_______
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_______
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Total investments by and distributions to owners
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-
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(
2,000)
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(
2,000)
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_______
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_______
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_______
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At 31 August 2017 and 1 September 2017
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1
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249
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250
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Profit for the year
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14,692
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14,692
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_______
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_______
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_______
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Total comprehensive income for the year
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-
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14,692
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14,692
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Dividends paid and payable
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(
14,000)
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(
14,000)
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_______
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_______
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_______
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Total investments by and distributions to owners
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-
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(
14,000)
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(
14,000)
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_______
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_______
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_______
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At 31 August 2018
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1
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941
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942
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_______
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_______
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_______
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A W Solutions (NI) Ltd
Notes to the financial statements
Year ended 31 August 2018
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 76-78 Church Street, Portadown, Co Armagh, BT62 3EU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The fair values of the company's financial assets, cash and cash equivalents and financial liabilities are assumed to approximate to their book value. The company does not enter into derivative financial instruments.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2017:
2
).
5.
Debtors
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2018
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2017
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£
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£
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Other debtors
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14,795
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6,220
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_______
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_______
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6.
Creditors: amounts falling due within one year
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2018
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2017
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£
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£
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Bank loans and overdrafts
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1,509
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32
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Trade creditors
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48
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1,789
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Corporation tax
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3,446
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459
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Social security and other taxes
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6,010
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2,854
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Other creditors
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2,840
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1,500
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_______
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_______
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13,853
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6,634
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_______
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_______
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7.
Directors advances, credits and guarantees
At the year end the director owed the company £14,975 (2017 - £6,220). These loans are interest free and have no fixed date for repayment.
8.
Controlling party
The ultimate controlling party is Mr A Wilson who owns 100% of the ordinary share capital.