REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019 |
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B D WOODGATE LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019 |
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FOR |
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B D WOODGATE LIMITED |
B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2019 |
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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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Chartered Accountants' Report | 10 |
B D WOODGATE LIMITED |
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COMPANY INFORMATION |
for the year ended 31 October 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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Linden House |
Linden Close |
Tunbridge Wells |
Kent |
TN4 8HH |
B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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BALANCE SHEET |
31 October 2019 |
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31.10.19 | 31.10.18 |
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 and in hand |
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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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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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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. |
B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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BALANCE SHEET - continued |
31 October 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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B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2019 |
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1. | STATUTORY INFORMATION |
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B D Woodgate 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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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 |
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Turnover |
Turnover is recognised when it is probable that future economic benefits will flow to the company from the |
provision of construction contracts and is measured as the fair value of consideration which the company |
expects to receive from those transactions. Turnover is recognised as control of the goods is passed over to the |
customer. Where the normal criteria for the recognition of turnover are not met or are varied, then turnover is |
recognised at the point when control has passed to the customer which could be when legal title has passed to |
the customer or when the business has a right to payment such as on completion of work or when cash payment |
has been made to the company. |
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When the outcome of a construction contract can be estimated reliably, contract turnover and associated |
expenditure are recognised by reference to the stage of completion of the contract at the reporting date. |
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When the outcome of a construction contract cannot be estimated reliably, contract turnover shall only be |
recognised to the extent of the amount of associated expenditure incurred and it is probable that the contract |
turnover will be recoverable. |
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Provision will be made for all losses arising from a construction contract where it is probable that current and |
future contract expenditure exceeds contract turnover. |
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Turnover is recognised net of returns and of trade discounts and is shown exclusive of value added tax. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Office building | - |
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Plant and machinery | - |
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Office equipment | - |
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Motor vehicles | - |
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Computer equipment | - |
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B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
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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Financial instruments |
The company enters into basic financial instruments that give rise to financial assets and financial liabilities |
including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans |
and borrowings and investments in certain non puttable and non convertible equity instruments. |
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Debt instruments which are not payable or receivable within one year are initially accounted for at the |
transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt |
instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where |
the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the |
present value of future cash flows based on a market rate of interest. Debt instruments which are treated as |
financial assets and accounted for at amortised cost are also assessed for impairment. |
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Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost |
unless they can be accounted for at fair value based on a readily available market price or fair value. Equity |
instruments which are treated as financial assets and accounted for at cost are also assessed for impairment. |
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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. |
B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2018 |
and 31 October 2019 |
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AMORTISATION |
At 1 November 2018 |
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Charge for year |
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At 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2019 |
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5. | TANGIBLE FIXED ASSETS |
Office | Plant and | Office |
building | machinery | equipment |
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COST |
At 1 November 2018 |
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Additions |
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At 31 October 2019 |
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DEPRECIATION |
At 1 November 2018 |
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Charge for year |
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At 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2018 |
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Additions |
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At 31 October 2019 |
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DEPRECIATION |
At 1 November 2018 |
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Charge for year |
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At 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2019 |
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5. | TANGIBLE FIXED ASSETS - continued |
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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 November 2018 |
and 31 October 2019 |
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DEPRECIATION |
At 1 November 2018 |
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Charge for year |
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At 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.19 | 31.10.18 |
£ | £ |
Trade debtors |
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Directors' loan accounts | 52,439 | - |
Corporation tax recoverable |
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Prepayments & accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.19 | 31.10.18 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Corporation tax |
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Social security & other taxes |
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VAT | 11,790 | 32,103 |
Directors' loan accounts | - | 1,228 |
Accruals & deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.19 | 31.10.18 |
£ | £ |
Hire purchase contracts |
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B D WOODGATE LIMITED (REGISTERED NUMBER: 05562454) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2019 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.10.19 | 31.10.18 |
£ | £ |
Bank overdrafts |
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Fixed assets held under HP | 6,658 | 15,706 |
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The bank loan and overdraft is secured by a personal guarantee provided by the director. |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 October 2019 and |
31 October 2018: |
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31.10.19 | 31.10.18 |
£ | £ |
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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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Interest is charged at the statutory rate on overdrawn balances exceeding £10,000. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
B D WOODGATE LIMITED |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to |
file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements |
and the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of B D Woodgate Limited for the year ended 31 October 2019 which comprise the Income |
Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records |
and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of B D Woodgate Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of B D Woodgate Limited and state those matters that we have agreed to state to the director of B D Woodgate Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B D Woodgate Limited and its director for our work or for this report. |
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It is your duty to ensure that B D Woodgate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of B D Woodgate Limited. You consider that B D Woodgate Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of B D Woodgate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Linden House |
Linden Close |
Tunbridge Wells |
Kent |
TN4 8HH |
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