|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
|
FOR |
|
YOUNG & WOODS LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
|
FOR |
|
YOUNG & WOODS LIMITED |
YOUNG & WOODS LIMITED (REGISTERED NUMBER: 00937948) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Abridged Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
YOUNG & WOODS LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
26 Church Street |
Bishop's Stortford |
Hertfordshire |
CM23 2LY |
YOUNG & WOODS LIMITED (REGISTERED NUMBER: 00937948) |
|
ABRIDGED BALANCE SHEET |
30 SEPTEMBER 2018 |
|
30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors |
|
|
Prepayments and accrued income |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
|
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
|
|
YOUNG & WOODS LIMITED (REGISTERED NUMBER: 00937948) |
|
ABRIDGED BALANCE SHEET - continued |
30 SEPTEMBER 2018 |
|
30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 7 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) |
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. |
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
behalf by: |
|
|
|
|
|
|
|
|
|
|
YOUNG & WOODS LIMITED (REGISTERED NUMBER: 00937948) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
|
1. | STATUTORY INFORMATION |
|
Young & Woods Limited is a
|
company's registered number and registered office address can be found on the Company Information |
page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
|
Tangible fixed assets |
|
Freehold property | - |
|
Short leasehold | - |
|
Plant and machinery | - |
|
Motor vehicles | - |
|
Office equipment | - |
|
|
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. |
|
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. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
YOUNG & WOODS LIMITED (REGISTERED NUMBER: 00937948) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
|
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. |
|
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. |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held |
under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the |
shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2017 |
|
Additions |
|
At 30 September 2018 |
|
DEPRECIATION |
At 1 October 2017 |
|
Charge for year |
|
At 30 September 2018 |
|
NET BOOK VALUE |
At 30 September 2018 |
|
At 30 September 2017 |
|
YOUNG & WOODS LIMITED (REGISTERED NUMBER: 00937948) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Totals |
£ |
COST |
At 1 October 2017 |
and 30 September 2018 | 385,000 |
DEPRECIATION |
At 1 October 2017 | 82,134 |
Charge for year | 60,573 |
At 30 September 2018 | 142,707 |
NET BOOK VALUE |
At 30 September 2018 | 242,293 |
At 30 September 2017 | 302,866 |
|
5. | LEASING AGREEMENTS |
|
Minimum lease payments fall due as follows: |
|
Hire purchase |
contracts |
30.9.18 | 30.9.17 |
£ | £ |
Gross obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Finance charges repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
YOUNG & WOODS LIMITED (REGISTERED NUMBER: 00937948) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
|
5. | LEASING AGREEMENTS - continued |
|
Non-cancellable |
operating leases |
30.9.18 | 30.9.17 |
£ | £ |
Within one year |
|
|
|
6. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
30.9.18 | 30.9.17 |
£ | £ |
Hire purchase contracts | 198,333 | 266,334 |
|
Hire purchase liabilities are secured against the asset to which they relate. |
|
7. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.18 | 30.9.17 |
value: | £ | £ |
|
Ordinary A | £1 | 125 | 125 |
|
Ordinary B | £1 | 280 | 280 |
|
Ordinary C | £1 | 200 | 200 |
|
Ordinary D | £1 | 395 | 395 |
1,000 | 1,000 |