CW Carpets Limited - Accounts to registrar (filleted) - small 18.2
CW Carpets Limited - Accounts to registrar (filleted) - small 18.2
CW CARPETS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
CW CARPETS LIMITED (REGISTERED NUMBER: 03569091) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
CW CARPETS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor |
Orion House |
Bessemer Road |
Welwyn Garden City |
Hertfordshire |
AL7 1HH |
CW CARPETS LIMITED (REGISTERED NUMBER: 03569091) |
STATEMENT OF FINANCIAL POSITION |
31 MAY 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
CW CARPETS LIMITED (REGISTERED NUMBER: 03569091) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MAY 2018 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
CW CARPETS LIMITED (REGISTERED NUMBER: 03569091) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2018 |
1. | STATUTORY INFORMATION |
CW Carpets Limited is a |
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. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
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. |
Going concern |
As at 31 May 2018, the company has an excess of current liabilities over assets and is dependent upon the |
continued support of it's director and creditors. The director has agreed to continue support the company and has |
therefore prepared the accounts on that basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CW CARPETS LIMITED (REGISTERED NUMBER: 03569091) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2018 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 June 2017 |
Additions |
At 31 May 2018 |
DEPRECIATION |
At 1 June 2017 |
Charge for year |
At 31 May 2018 |
NET BOOK VALUE |
At 31 May 2018 |
At 31 May 2017 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
Directors' current accounts | 1,706 | - |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 6,224 | 4,296 |
Directors' current accounts | - | 10,048 |
Accrued expenses |
7. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 655 | 998 |
CW CARPETS LIMITED (REGISTERED NUMBER: 03569091) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2018 |
7. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 June 2017 |
Credit to Income Statement during year | ( |
) |
Balance at 31 May 2018 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 June 2017 | ( |
) |
Profit for the year |
Dividends | ( |
) |
At 31 May 2018 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
In accordance with requirements of the Companies Act 2006 the following information is given below relating to |
balances and transactions relating to the company's director. |
2018 | 2017 |
£ | £ |
Included in debtors | 1,706 | - |
Included in creditors | - | 10,048 |
The amount reflected in debtors was repaid within 9 months of the year end |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is C J Welch. |