Company Registration No. 03009634 (England and Wales)
Whiteleys of Halifax Limited
Unaudited
Financial Statements
for the year ended 31 January 2019
PAGES FOR FILING WITH REGISTRAR
Whiteleys of Halifax Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Whiteleys of Halifax Limited
Balance sheet
as at 31 January 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
801
943
Current assets
Stocks
1,600
1,575
Debtors
4
8,359
14,335
Cash at bank and in hand
1,284
838
11,243
16,748
Creditors: amounts falling due within one year
5
(11,778)
(17,300)
Net current liabilities
(535)
(552)
Total assets less current liabilities
266
391
Provisions for liabilities
(153)
(189)
Net assets
113
202
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
13
102
Total equity
113
202
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Whiteleys of Halifax Limited
Balance sheet (continued)
as at 31 January 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 October 2019 and are signed on its behalf by:
R W Whiteley
Director
Company Registration No. 03009634
Whiteleys of Halifax Limited
Notes to the financial statements
for the year ended 31 January 2019
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business
, and
is shown net of VAT
.
Turnover is recognised on the supply of goods.
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost
less depreciation
.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
- 15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit
.
Whiteleys of Halifax Limited
Notes to the financial statements (continued)
for the year ended 31 January 2019
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 February 2018 and 31 January 2019
10,712
Depreciation and impairment
At 1 February 2018
9,769
Depreciation charged in the year
142
At 31 January 2019
9,911
Carrying amount
At 31 January 2019
801
At 31 January 2018
943
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
4,298
11,217
Other debtors
4,061
3,118
8,359
14,335
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
5,954
6,054
Trade creditors
2,715
7,391
Corporation tax
473
380
Other taxation and social security
772
1,654
Accruals and deferred income
1,864
1,821
11,778
17,300
Whiteleys of Halifax Limited
Notes to the financial statements (continued)
for the year ended 31 January 2019
- 5 -
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
0 Ordinary shares of £1 each
100
100
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
R W Whiteley - Directors' Loan Account
-
3,118
943
4,061
3,118
943
4,061
8
Company information
Whiteleys of Halifax Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5/6 Bank End, Upper Greetland, Halifax, HX4 8PR.