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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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Wessex Resins & Adhesives Holdings Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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for |
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Wessex Resins & Adhesives Holdings Ltd |
Wessex Resins & Adhesives Holdings Ltd (Registered number: 09457105) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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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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Wessex Resins & Adhesives Holdings Ltd |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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SOLICITORS: |
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46 The Avenue |
Southampton |
Hampshire |
SO17 1AX |
Wessex Resins & Adhesives Holdings Ltd (Registered number: 09457105) |
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Balance Sheet |
31 December 2017 |
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31.12.17 | 31.12.16 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
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 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 ASSETS |
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Wessex Resins & Adhesives Holdings Ltd (Registered number: 09457105) |
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Balance Sheet - continued |
31 December 2017 |
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31.12.17 | 31.12.16 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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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. |
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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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Wessex Resins & Adhesives Holdings Ltd (Registered number: 09457105) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Wessex Resins & Adhesives Holdings Ltd is a
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Wales. The 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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The financial statements relate to Wessex Resins & Adhesives Holdings Limited as an individual entity. |
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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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Tangible fixed assets |
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Computer Equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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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Wessex Resins & Adhesives Holdings Ltd (Registered number: 09457105) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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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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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. | TANGIBLE FIXED ASSETS |
Computer |
Equipment |
£ |
COST |
Additions |
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At 31 December 2017 |
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DEPRECIATION |
Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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Wessex Resins & Adhesives Holdings Ltd (Registered number: 09457105) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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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: England and Wales |
Nature of business:
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Class of shares: | holding |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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VAT |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Loan Notes (see note 9) |
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Amounts owed to group undertakings |
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Other Creditors |
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Directors' current accounts | 64,118 | - |
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Wessex Resins & Adhesives Holdings Ltd (Registered number: 09457105) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
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The Company issued Loan Notes to the sum of £955,000 on 27 August 2016. |
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Under the terms of the loan notes they are to be redeemed over annual installments over 10 years. The company |
also has the right to repay at an earlier date at its discretion. |
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The loan notes attract interest annually and payable in March each year at the rate of 2.5% above the Bank of |
England base rate. |
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As at 31 December 2017 the company had repaid the sum of £255,000 (2016: £55,000) , leaving £700,000 (2016: |
£900,000) outstanding. |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Loan Notes (see note 9) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Unsecured Loan Notes | 311,112 | 465,000 |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.12.17 | 31.12.16 |
£ | £ |
Amounts falling due within one year or on demand: |
Unsecured Loan Notes | 77,777 | 63,000 |
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Amounts falling due between one and two years: |
Unsecured Loan Notes | 77,777 | 93,000 |
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Amounts falling due between two and five years: |
Unsecured Loan Notes | 233,334 | 279,000 |
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Amounts falling due in more than five years: |
Wessex Resins & Adhesives Holdings Ltd (Registered number: 09457105) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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9. | LOANS - continued |
31.12.17 | 31.12.16 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Unsecured Loan Notes | 311,112 | 465,000 |
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10. | RELATED PARTY DISCLOSURES |
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Entities over which the entity has control, joint control or significant influence |
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The amount owed to a related party at the year end was £597,435 (2016 £19,500). |
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During the period, the entity made sales in the form of Management charges to a related party of £91,100 (2016: |
£0). The amount due to the related party at the period end was £108,473. (2016: £64.555). |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is IK Oliver and his family.. |