|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2017 |
|
for |
|
The Celtic Arms (Northop) Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2017 |
|
for |
|
The Celtic Arms (Northop) Limited |
The Celtic Arms (Northop) Limited (Registered number: 09655911) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
|
|
|
|
Page |
|
Company information | 1 |
|
Statement of financial position | 2 |
|
Notes to the financial statements | 4 |
|
The Celtic Arms (Northop) Limited |
|
Company Information |
for the Year Ended 31 March 2017 |
|
|
|
|
|
|
|
Directors: |
|
|
|
|
|
|
|
Registered office: |
|
|
|
|
|
|
|
|
|
|
|
Registered number: |
|
|
|
|
|
|
Accountants: |
|
Chartered Accountants |
The Office, |
Ffordd Pentre Bach, Nercwys. |
Mold |
Flintshire |
CH7 4EG |
The Celtic Arms (Northop) Limited (Registered number: 09655911) |
|
Statement of Financial Position |
31 March 2017 |
|
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
Investments | 6 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 7 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
9 |
|
|
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
|
|
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 Celtic Arms (Northop) Limited (Registered number: 09655911) |
|
Statement of Financial Position - continued |
31 March 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
by: |
|
|
|
|
|
|
|
|
|
|
The Celtic Arms (Northop) Limited (Registered number: 09655911) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
|
1. | STATUTORY INFORMATION |
|
The Celtic Arms (Northop) Limited is a
|
The company's registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
|
|
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
GOODWILL |
Goodwill, being the amount paid in connection with the acquisition of the business is being amortised evenly |
over its estimated useful life. |
|
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. |
|
TANGIBLE FIXED ASSETS |
|
|
STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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 statement of financial position date. |
|
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
|
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. |
|
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. |
The Celtic Arms (Northop) Limited (Registered number: 09655911) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
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. |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
|
NET BOOK VALUE |
At 31 March 2017 |
|
At 31 March 2016 |
|
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
|
|
|
Additions |
|
|
|
At 31 March 2017 |
|
|
|
DEPRECIATION |
At 1 April 2016 |
|
|
|
Charge for year |
|
|
|
At 31 March 2017 |
|
|
|
NET BOOK VALUE |
At 31 March 2017 |
|
|
|
At 31 March 2016 |
|
|
|
The Celtic Arms (Northop) Limited (Registered number: 09655911) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
5. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
|
DEPRECIATION |
At 1 April 2016 |
|
Charge for year |
|
At 31 March 2017 |
|
NET BOOK VALUE |
At 31 March 2017 |
|
At 31 March 2016 |
|
|
6. | FIXED ASSET INVESTMENTS |
Interest |
in other |
participating |
interests |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 | 1,450 |
NET BOOK VALUE |
At 31 March 2017 | 1,450 |
At 31 March 2016 | 1,450 |
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
The Celtic Arms (Northop) Limited (Registered number: 09655911) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts |
|
|
Other creditors |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 191,331 | 280,863 |
|
10. | RELATED PARTY DISCLOSURES |
|
The balance on Mr J A Woodward's directors loan at 31 March 2017 amounted to £710,639, which is included |
in other creditors. |
|
The balance on Mr D C Falconer's directors loan at 31 March 2017 amounted to £257,000, which is included in |
other creditors. |
|
These directors loan balances have arisen from the purchase of the trade and assets of The Celtic Arms. The |
directors' loan accounts are unsecured, interest free and repayable upon demand. |
|
Included within other creditors at 31 March 2017 is an amount due to Woodward & Falconer Property Limited |
of £29,000. The companies are related by virtue of Mr J A Woodward and Mr D C Falconer being directors and |
shareholders of both companies. |
|
Included within other debtors at 31 March 2017 is an amount due from Woodward & Falconer Management Co |
Limited of £59,200. The companies are related by virtue of Mr J A Woodward and Mr D C Falconer being |
directors and shareholders of both companies. |
|
11. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is J A Woodward. |
|
12. | FIRST YEAR ADOPTION |
|
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 |
and have not impacted on equity or profit or loss. |