REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 JANUARY 2019 TO 31 MARCH 2020 |
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FOR |
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WELDRITE GROUP LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 JANUARY 2019 TO 31 MARCH 2020 |
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FOR |
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WELDRITE GROUP LIMITED |
WELDRITE GROUP LIMITED (REGISTERED NUMBER: 10643684) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2019 TO 31 MARCH 2020 |
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Page |
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Balance sheet | 1 |
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Notes to the financial statements | 2 |
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WELDRITE GROUP LIMITED (REGISTERED NUMBER: 10643684) |
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BALANCE SHEET |
31 MARCH 2020 |
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2020 | 2018 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
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Current assets |
Debtors | 5 |
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Cash in hand |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 7 |
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Retained earnings |
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Shareholders' funds |
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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
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(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 Statement of comprehensive income 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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WELDRITE GROUP LIMITED (REGISTERED NUMBER: 10643684) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2019 TO 31 MARCH 2020 |
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1. | Statutory information |
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Weldrite Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered |
number is 10643684. The registered office and business address is Construction House, 1A Allens Lane, Poole, Dorset, BH16 |
5DG. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the period 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 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 period 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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Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the |
contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract |
that evidences a residual interest in the assets of the company, after deducting all liabilities. |
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At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any |
losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
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Group accounts |
The financial statements present information about the company as an individual undertaking and not about its group. The |
company and its subsidiaries comprise a small-sized group. The group has therefore taken advantage of the exemptions |
provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
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3. | Employees and directors |
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The average number of employees during the period was
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WELDRITE GROUP LIMITED (REGISTERED NUMBER: 10643684) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2019 TO 31 MARCH 2020 |
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4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
Additions |
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At 31 March 2020 |
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Net book value |
At 31 March 2020 |
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5. | Debtors: amounts falling due within one year |
2020 | 2018 |
£ | £ |
Directors' current accounts | 164,384 | - |
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6. | Creditors: amounts falling due within one year |
2020 | 2018 |
£ | £ |
Amounts owed to group undertakings |
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Accruals and deferred income |
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7. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 300 | 100 |
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During the year a share for share exchange took place, whereby the Company issued 200 additional ordinary shares in |
exchange for 100 ordinary shares in Weldrite Structures Limited, and 100 ordinary shares in Weldrite Special Works Limited. |
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8. | Director's advances, credits and guarantees |
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The following advances and credits to a director subsisted during the period ended 31 March 2020 and the year ended |
31 December 2018: |
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2020 | 2018 |
£ | £ |
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Balance outstanding at start of period |
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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 period |
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At the period end the director, Mr S Dyke, owed the company amounts totalling £164,384, which are included within |
debtors: amounts falling due within one year. The maximum amount owing throughout the period was £264,384, and all |
amounts were fully repaid within 9 months of the period end. |
WELDRITE GROUP LIMITED (REGISTERED NUMBER: 10643684) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2019 TO 31 MARCH 2020 |
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9. | Ultimate controlling party |
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The company is under the control of the director, Mr S Dyke, and his wife, Mrs C Dyke, due to their combined holding of |
100% of the share capital of the company. |