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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2018 |
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WALLER ASSOCIATES LIMITED |
TRADING AS |
WALLER BUILDING AND GLAZING SERVICES |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2018 |
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FOR |
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WALLER ASSOCIATES LIMITED |
TRADING AS |
WALLER BUILDING AND GLAZING SERVICES |
WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 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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WALLER ASSOCIATES LIMITED |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 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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ACCOUNTANTS: |
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Chartered Accountants |
12 Romney Place |
Maidstone |
Kent |
ME15 6LE |
WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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BALANCE SHEET |
31 JULY 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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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 |
9 |
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( |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 |
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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. |
WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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BALANCE SHEET - continued |
31 JULY 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the Board of Directors on
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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
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1. | STATUTORY INFORMATION |
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Waller Associates 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 represents net invoiced sales, excluding value added tax. |
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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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Motor vehicles | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks and work in progress |
Stocks and work in progress 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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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2017 |
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Additions |
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At 31 July 2018 |
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DEPRECIATION |
At 1 August 2017 |
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Charge for year |
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At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
Motor |
vehicles |
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COST |
At 1 August 2017 |
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Transfer to ownership | (19,250 | ) |
At 31 July 2018 |
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DEPRECIATION |
At 1 August 2017 |
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Charge for year |
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Transfer to ownership | (11,129 | ) |
At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 August 2017 |
and 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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2018 | 2017 |
£ | £ |
Aggregate capital and reserves |
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6. | STOCKS |
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Work in progress is valued at the lower of cost and net realisable value. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Finance leases |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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VAT | 33,862 | 5,049 |
Other creditors |
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Directors' current accounts | 333,314 | 234,814 |
Accruals and deferred income |
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Other creditors consists of a pension contributions paid after the year end. |
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The amount owed to group undertakings relates to amounts due to SPME Limited, which is the parent company. |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans - 1-5 years |
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Finance leases |
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The bank loan is an unsecured, interest free loan from Kent County Council under the Tiger Business Support |
Scheme. |
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10. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 10,063 | 13,010 |
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Deferred |
tax |
£ |
Balance at 1 August 2017 |
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Provided during year | ( |
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Balance at 31 July 2018 |
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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | 1 | 306 | 306 |
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12. | RESERVES |
Retained |
earnings |
£ |
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At 1 August 2017 |
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Profit for the year |
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Dividends | ( |
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At 31 July 2018 |
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13. | RELATED PARTY DISCLOSURES |
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During the year the company paid rent for the business premises amount to £16,600 (2017: £21,600) to Mr W |
Waller and Mrs J Waller, who are both directors. |
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Mr Waller has a 75% shareholding in SPME limited, a company which holds a 66% share in Waller Associates |
Limited. |
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During the year dividends of £39,333 were paid to SPME Limited. At the year end there is a balance owing of |
£37,533 (2017: £28,200) by Waller Associates Limited. |
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The directors consider all transactions to have taken place at an open market value. |
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14. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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