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Unaudited Financial Statements |
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for the Year Ended 30 September 2018 |
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for |
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THE WONDER OF WOOD LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2018 |
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for |
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THE WONDER OF WOOD LIMITED |
THE WONDER OF WOOD LIMITED (REGISTERED NUMBER: 04912165) |
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Contents of the Financial Statements |
for the Year Ended 30 September 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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THE WONDER OF WOOD LIMITED |
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Company Information |
for the Year Ended 30 September 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 |
The Old Tannery |
Eastgate |
Accrington |
Lancashire |
BB5 6PW |
THE WONDER OF WOOD LIMITED (REGISTERED NUMBER: 04912165) |
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Balance Sheet |
30 September 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
( |
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( |
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ACCRUALS AND DEFERRED INCOME | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Capital redemption reserve |
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Retained earnings |
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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. |
THE WONDER OF WOOD LIMITED (REGISTERED NUMBER: 04912165) |
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Balance Sheet - continued |
30 September 2018 |
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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 Board of Directors on
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THE WONDER OF WOOD LIMITED (REGISTERED NUMBER: 04912165) |
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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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The Wonder of Wood 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. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The company meets its day to day working capital requirements through an overdraft facility which is repayable |
on demand. The directors have considered the future working capital requirements and are of the opinion that |
the company will continue to operate within the bank facility currently agreed. However, the margin of expected |
facilities over requirements is not large and inherently there can be no certainty in relation to these matters. On |
this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. |
The financial statements do not include any adjustments that would result from the withdrawal of the overdraft |
facility by the company's bankers. |
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Turnover |
Turnover represents the value of goods and services, excluding value added tax, despatched/provided during the |
year, for which the right to consideration has been obtained. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Motor vehicles | - |
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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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THE WONDER OF WOOD LIMITED (REGISTERED NUMBER: 04912165) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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3. | 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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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 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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Government grants |
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss |
account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit |
and loss account as the related expenditure is incurred. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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THE WONDER OF WOOD LIMITED (REGISTERED NUMBER: 04912165) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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5. | TANGIBLE FIXED ASSETS |
Long | Plant and | Motor | Computer |
leasehold | machinery | vehicles | equipment | 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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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 October 2017 |
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Additions |
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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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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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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts recoverable on contracts |
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Other debtors |
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THE WONDER OF WOOD LIMITED (REGISTERED NUMBER: 04912165) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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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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Other creditors |
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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 | 9,229 | 6,592 |
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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 | £1 | 770 | 770 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 September 2018 and |
30 September 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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