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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Woodside Cast Stone Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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for |
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Woodside Cast Stone Limited |
Woodside Cast Stone Limited (Registered number: 01665292) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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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 | 4 |
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Woodside Cast Stone Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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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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Woodside Cast Stone Limited (Registered number: 01665292) |
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Balance Sheet |
31 March 2018 |
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2018 | 2017 |
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 and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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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 | 10 |
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Revaluation reserve | 11 |
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Retained earnings | 11 |
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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. |
Woodside Cast Stone Limited (Registered number: 01665292) |
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Balance Sheet - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Woodside Cast Stone Limited (Registered number: 01665292) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Woodside Cast Stone Limited 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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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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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution retirement benefits scheme. Contributions are charged to the profit |
and loss account as they become payable. |
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Woodside Cast Stone Limited (Registered number: 01665292) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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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 |
Short | Plant and | Motor |
leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2017 |
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Additions |
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Disposals |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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Cost or valuation at 31 March 2018 is represented by: |
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Short | Plant and | Motor |
leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2008 | - | 4,250 | - | 4,250 |
Valuation in 2013 | - | 72,000 | - | 72,000 |
Cost | 19,285 | 1,159,185 | 31,090 | 1,209,560 |
19,285 | 1,235,435 | 31,090 | 1,285,810 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2017 |
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Additions |
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Disposals |
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Transfer to ownership | (8,384 | ) | - | (8,384 | ) |
At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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Eliminated on disposal |
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Transfer to ownership | (2,109 | ) | - | (2,109 | ) |
At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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Woodside Cast Stone Limited (Registered number: 01665292) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors | 15,046 | 11,795 |
Due from group undertakings | 169,857 | 166,595 |
Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Finance leases (see note 8) |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Trade loans | 260,056 | 216,762 |
Accrued expenses |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Finance leases (see note 8) |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Finance leases |
2018 | 2017 |
£ | £ |
Gross obligations repayable: |
Within one year |
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Between one and five years |
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Finance charges repayable: |
Within one year |
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Between one and five years |
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Net obligations repayable: |
Within one year |
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Between one and five years |
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Woodside Cast Stone Limited (Registered number: 01665292) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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8. | LEASING AGREEMENTS - continued |
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Non-cancellable |
operating leases |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdraft |
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Finance leases | 30,040 | 40,608 |
Trade loans | 260,056 | 216,762 |
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The trade loans are secured by way of a fixed and floating charge over certain assets of the company. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary shares | £1 | 201,000 | 201,000 |
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11. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 April 2017 |
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89,399 |
Deficit for the year | ( |
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At 31 March 2018 |
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73,997 |
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12. | CAPITAL COMMITMENTS |
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No future capital expenditure has been either authorised by the directors or contracted for (2017 : £nil). |
Woodside Cast Stone Limited (Registered number: 01665292) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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13. | RELATED PARTY DISCLOSURES |
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The directors remuneration for R Burr for the year ending 31 March 2018 was £6,523 (2017: £6,448). |
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The directors remuneration for R Burr for the year ending 31 March 2018 was £6,523 (2017: £6,448). |
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The directors remuneration for Mrs E Thomas for the year ending 31 March 2018 was £9,306 (2017: £8,383). |
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Sales to and purchases from related parties and balances at the year end can be summarised as follows: |
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2018 | 2017 |
£ | £ |
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Sales | Purchases | Balances | Sales | Purchases | Balances |
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Traffco (Patterns &
Moulds) Limited |
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2,845 |
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2,845 |
Woodside Concrete
Limited |
3,262 |
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169,857 |
3,224 |
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166,595 |
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All transactions were undertaken on a normal trading basis. |
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Each of the parties referred to above are related by virtue of their ownership or common directorship. |
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14. | ULTIMATE PARENT COMPANY |
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The ultimate parent company is Woodside Concrete Limited. |