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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019 |
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THE WILSHER GROUP LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019 |
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FOR |
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THE WILSHER GROUP LIMITED |
THE WILSHER GROUP LIMITED (REGISTERED NUMBER: 02808452) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 AUGUST 2019 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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THE WILSHER GROUP LIMITED |
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COMPANY INFORMATION |
for the year ended 31 AUGUST 2019 |
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DIRECTOR: |
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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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4 Beaufort West |
Bath |
BA1 6QB |
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BANKERS: |
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21 High Street |
Reigate |
Surrey |
RH2 9AD |
THE WILSHER GROUP LIMITED (REGISTERED NUMBER: 02808452) |
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ABRIDGED BALANCE SHEET |
31 AUGUST 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one year | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his 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. |
THE WILSHER GROUP LIMITED (REGISTERED NUMBER: 02808452) |
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ABRIDGED BALANCE SHEET - continued |
31 AUGUST 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 director and authorised for issue on
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THE WILSHER GROUP LIMITED (REGISTERED NUMBER: 02808452) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 AUGUST 2019 |
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1. | STATUTORY INFORMATION |
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The Wilsher Group Limited is a
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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 - going concern |
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The company has sustained a loss for the third year running (2019 £56,070 v 2018 £31,142) and is dependent on the |
continued support of the director S Wilsher, (who has guaranteed he company's bank borrowing) and a related company |
under common control.. |
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Turnover |
Turnover represents net invoiced sales and products and services, excluding value added tax, except in respect of service |
contracts where turnover is recognised when the company obtains the right to consideration. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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 |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
THE WILSHER GROUP LIMITED (REGISTERED NUMBER: 02808452) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 AUGUST 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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 |
Totals |
£ |
COST |
At 1 September 2018 |
and 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
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Charge for year |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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5. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Hire purchase contracts | - | 601 |
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The bank loan and overdraft are secured by a fixed and floating charge over the company's assets and undertaking. Hire |
purchase liabilities are secured against the asset financed. |
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6. | OTHER FINANCIAL COMMITMENTS |
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The company had total future commitments under non cancellable operating leases of £1,372,500 at the year end |
(£1,462,500 - 2018). |
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Outstanding payments in respect of employee pension contributions at the year end were £496 (2018 - £355) |
THE WILSHER GROUP LIMITED (REGISTERED NUMBER: 02808452) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 AUGUST 2019 |
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7. | RELATED PARTY DISCLOSURES |
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The company is controlled by S Wilsher who owns 55.0% of the issued share capital. S Wilsher has given a personal |
guarantee to the company's bankers to a maximum of £75,000. At the year end S Wilsher, was owed £24,276 (2018 - |
£4,460). |
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8. | POST BALANCE SHEET EVENTS |
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In common with most business the company has been adversely affected by COVID-19. The director have taken steps to |
minimise costs and protect revenue, whilst at the same time taking advantage of the support that has been made available |
from the UK Government. The company will suffer a dip in revenues in the second half of the 2019/20 accounting year, |
but the company has been able to re-open the hotel part of its operations as COVID-19 lockdown conditions have eased. |