North Wales Mowers Ltd
|
Registered number: |
07712260
|
Balance Sheet |
as at 31 July 2017
|
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
24,490 |
|
|
13,044 |
|
Current assets |
Stocks |
|
|
214,200 |
|
|
149,200 |
Cash at bank and in hand |
|
|
16,622 |
|
|
3,176 |
|
|
|
230,822 |
|
|
152,376 |
|
Creditors: amounts falling due within one year |
4 |
|
(244,235) |
|
|
(174,417) |
|
Net current liabilities |
|
|
|
(13,413) |
|
|
(22,041) |
|
Total assets less current liabilities |
|
|
|
11,077 |
|
|
(8,997) |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(32,026) |
|
|
(11,239) |
|
Provisions for liabilities |
|
|
|
(1,150) |
|
|
(1,150) |
|
|
Net liabilities |
|
|
|
(22,099) |
|
|
(21,386) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
10 |
|
|
10 |
Profit and loss account |
|
|
|
(22,109) |
|
|
(21,396) |
|
Shareholder's funds |
|
|
|
(22,099) |
|
|
(21,386) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
|
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
J A Finch |
Director |
Approved by the board on 30 April 2018
|
|
North Wales Mowers Ltd
|
Notes to the Accounts |
for the year ended 31 July 2017
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Going Concern |
|
The accounts are prepared on a going concern basis as the company is supported by loans from the director. |
|
|
Turnover |
|
Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the costs, less estimated residual value, of each asset over its expected useful life. The methods and applicable rates are:
|
|
|
Plant and machinery |
25% per annum of net book value |
|
Motor vehicles |
25% per annum of net book value |
|
|
Stocks |
|
Stocks are stated at the lower of cost, using the first in first out method, and selling price less costs to complete and sell.
|
|
|
Deferred Taxation |
|
Full provision is made for deferred tax assets and liabilities arising from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.
|
|
|
2 |
Employees |
2017 |
|
2016 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 August 2016 |
7,849 |
|
14,981 |
|
22,830 |
|
Additions |
4,845 |
|
14,765 |
|
19,610 |
|
At 31 July 2017 |
12,694 |
|
29,746 |
|
42,440 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2016 |
3,505 |
|
6,281 |
|
9,786 |
|
Charge for the year |
2,298 |
|
5,866 |
|
8,164 |
|
At 31 July 2017 |
5,803 |
|
12,147 |
|
17,950 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2017 |
6,891 |
|
17,599 |
|
24,490 |
|
At 31 July 2016 |
4,344 |
|
8,700 |
|
13,044 |
|
|
4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Trade creditors |
61,047 |
|
41,842 |
|
Taxation and social security costs |
2,656 |
|
2,161 |
|
Other creditors |
180,532 |
|
130,414 |
|
|
|
|
|
|
244,235 |
|
174,417 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
£ |
£ |
|
|
Bank loans |
32,026 |
|
11,239 |
|
|
|
|
|
|
|
|
|
|
6 |
Related party transactions |
|
|
The director provides financial assisstance to the company as and when needed at, 0% interest rate. At the start of the period the balance owing to J A Finch was £126,708 increasing to £176,811 at the end of the period.
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|
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7 |
Controlling party |
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The company is controlled by the director.
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8 |
Other information |
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North Wales Mowers Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
|
9 Lloyd Street |
|
Llandudno |
|
Conwy |
|
LL30 2UU |