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WPS Cornwall Limited |
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Unaudited Financial Statements |
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for the Year Ended 31st July 2017 |
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REGISTERED NUMBER:
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WPS Cornwall Limited |
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Unaudited Financial Statements |
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for the Year Ended 31st July 2017 |
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WPS Cornwall Limited (Registered number: 07301952) |
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Contents of the Financial Statements |
for the Year Ended 31st July 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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WPS Cornwall Limited |
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Company Information |
for the Year Ended 31st July 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
48 Arwenack Street |
Falmouth |
Cornwall |
TR11 3JH |
WPS Cornwall Limited (Registered number: 07301952) |
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Statement of Financial Position |
31st July 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 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 ASSETS |
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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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PROVISIONS FOR LIABILITIES | ( |
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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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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 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 director on
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WPS Cornwall Limited (Registered number: 07301952) |
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Notes to the Financial Statements |
for the Year Ended 31st July 2017 |
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1. | STATUTORY INFORMATION |
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WPS Cornwall 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. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Goodwill |
Goodwill, being the amount paid in connection with the aquisition of a business in 2010, was previously being |
amortised evenly over twenty years. However, a review of its estimated useful life has been carried out in the |
current year and it has been deemed that the goodwill no longer has any value. Accordingly the balance has |
been written off in its entirety. |
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Tangible fixed assets |
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Equipment and tools | - |
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Computer equipment | - |
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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 statement of financial position 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 |
statement of financial position 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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WPS Cornwall Limited (Registered number: 07301952) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st July 2017 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st August 2016 |
and 31st July 2017 |
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AMORTISATION |
At 1st August 2016 |
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Charge for year |
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At 31st July 2017 |
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NET BOOK VALUE |
At 31st July 2017 |
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At 31st July 2016 |
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5. | TANGIBLE FIXED ASSETS |
Equipment | Computer |
and tools | equipment | Totals |
£ | £ | £ |
COST |
At 1st August 2016 |
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Disposals |
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( |
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At 31st July 2017 |
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DEPRECIATION |
At 1st August 2016 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 31st July 2017 |
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NET BOOK VALUE |
At 31st July 2017 |
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At 31st July 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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WPS Cornwall Limited (Registered number: 07301952) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st July 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31st July 2017 and |
31st July 2016: |
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2017 | 2016 |
£ | £ |
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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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This loan has no specific terms of repayment. Interest has not been charged on this loan. |
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10. | FIRST YEAR ADOPTION |
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These financial statements for the year ended 31 July 2017 are the company's first set of financial statements |
which comply with FRS 102 Section 1A small entities. The date of transition is 1 August 2015. |