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REGISTERED NUMBER:
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WOF LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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REGISTERED NUMBER:
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WOF LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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WOF LIMITED (REGISTERED NUMBER: 03649469) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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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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WOF LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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WOF LIMITED (REGISTERED NUMBER: 03649469) |
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BALANCE SHEET |
30 SEPTEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
( |
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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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Retained earnings |
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SHAREHOLDERS' FUNDS |
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WOF LIMITED (REGISTERED NUMBER: 03649469) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2018 |
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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. |
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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
behalf by: |
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WOF LIMITED (REGISTERED NUMBER: 03649469) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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1. | STATUTORY INFORMATION |
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WOF 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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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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Patent and licences |
The cost of patents registered in the year are capitalised at cost and amortised evenly over their |
estimated useful life of five years. |
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Tangible fixed assets |
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Other Fixed Assets | - |
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Plant and machinery | - |
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Office equipment | - |
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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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WOF LIMITED (REGISTERED NUMBER: 03649469) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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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. |
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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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Research and development |
Expenditure on research and development is written off in the year in which it is incurred, except that |
development expenditure incurred on an individual project is carried forward as permitted by FRS102 |
the Financial Reporting Standard (effective January 2015) when its future recoverability can |
reasonably be regarded as assured. The expenditure carried forward is treated as an intangible fixed |
asset and is amortised over its estimated economic life of five years so as to match the expenditure |
with the anticipated sales from the related project. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
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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. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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WOF LIMITED (REGISTERED NUMBER: 03649469) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Patents |
and | Development |
licences | costs | Totals |
£ | £ | £ |
COST |
At 1 October 2017 |
and 30 September 2018 |
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AMORTISATION |
At 1 October 2017 |
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Amortisation for year |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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5. | TANGIBLE FIXED ASSETS |
Other |
Fixed | Plant and | Office | Motor |
Assets | machinery | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2017 |
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Additions |
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Disposals |
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At 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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WOF LIMITED (REGISTERED NUMBER: 03649469) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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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 |
£ | £ |
Hire purchase contracts | 80,924 | 66,796 |
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The amounts due under hire purchase contracts of £80,924 (2017: £66,796) are secured on the assets |
that they are financing. They are repayable in monthly instalments over the period of the agreements. |
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10. | CONTROLLING PARTY |
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The company is under the control of
J E & P E Limited
, a company in which Mr PA Edmunds
(director) owns 100% of the share capital. |