REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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W.H. BRADING & SON LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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FOR |
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W.H. BRADING & SON LTD |
W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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W.H. BRADING & SON LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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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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ACCOUNTANTS: |
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Chartered Accountants |
Exchange House |
St. Cross Lane |
Newport |
Isle of Wight |
PO30 5BZ |
W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859) |
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BALANCE SHEET |
30 SEPTEMBER 2019 |
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2019 | 2018 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve | 10 |
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Retained earnings | 10 |
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371,123 |
SHAREHOLDERS' FUNDS |
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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. |
W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2019 |
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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
by: |
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W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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1. | STATUTORY INFORMATION |
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W.H. Brading & Son Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the amount receivable by the company for goods supplied and services provided together |
with the income due from long term contracts, which is based where possible on the value certified to the year |
end, excluding VAT. Turnover is not recognised on properties being developed for resale until a sale has been |
completed. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks and work in progress |
Stock is valued at the lower of cost and net realisable value. |
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Work in progress under contract is valued on the basis of costs to date less the costs attributable to the turnover |
recognised to that point. |
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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 tax |
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. |
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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. |
W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 October 2018 |
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Additions |
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At 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
as restated |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
as restated |
£ | £ |
Hire purchase contracts (see note 8) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
as restated |
£ | £ |
Hire purchase contracts (see note 8) |
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W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under hire purchase fall due as follows: |
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Hire purchase contracts |
2019 | 2018 |
as restated |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Operating Leases |
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The total future minimum lease payments under non-cancellable operating leases is £31,583 due at the year end. |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
as restated |
£ | £ |
Hire purchase contracts | 52,874 | 12,433 |
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10. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 October 2018 |
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534,692 |
Prior year adjustment | ( |
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Profit for the year |
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Dividends | ( |
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At 30 September 2019 |
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364,547 |
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11. | ULTIMATE CONTROLLING PARENT |
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The controlling party is Westcourt (Cowes) Limited. |
W.H. BRADING & SON LTD (REGISTERED NUMBER: 01548859) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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12. | PRIOR YEAR ADJUSTMENT |
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During the preparation of the accounts for the year ended 30 September 2019 the directors identified that the |
amount included for the holiday pay provision, a debtor balance, had been overstated in the year ended 30 |
September 2018 by £198,851 due to a calculation error. |
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The comparatives for the previous period have been adjusted to correct the position and this has reduced the pre |
tax profits by £198,851 and reduced the tax provision by £37,782. The overall effect on profits for the year |
ended 30 September 2018 is a reduction of £161,069. |
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The adjustments to the balance sheet for the period have been to decrease debtors by £198,851 and decrease |
creditors by £37,782. The profit reserves have been decreased by £161,069 as at 30 September 2018. |