Wilson Field Limited Filleted accounts for Companies House (small and micro)

WILSON FIELD LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08213722

Wilson Field Limited

Filleted Unaudited Abridged Financial Statements

31 August 2018

Wilson Field Limited

Abridged Financial Statements

Year Ended 31 August 2018

Contents	Pages

Abridged statement of financial position	1 to 2

Notes to the abridged financial statements	3 to 5

Wilson Field Limited

Abridged Statement of Financial Position

31 August 2018

	2018		2017
Note	£	£	£

Current Assets

Debtors	5	1,192,758	975,361
Cash at bank and in hand		104,214	432,828
		------------	------------
		1,296,972	1,408,189

Creditors: amounts falling due within one year	882,110		993,070
	------------		------------
Net Current Assets		414,862	415,119
		---------	---------
Total Assets Less Current Liabilities		414,862	415,119
		---------	---------
Net Assets		414,862	415,119
		---------	---------

Capital and Reserves

Called up share capital	6	1,004	1,004
Profit and loss account		413,858	414,115
		---------	---------
Shareholders Funds		414,862	415,119
		---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 August 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Wilson Field Limited

Abridged Statement of Financial Position (continued)

31 August 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 7 March 2019 , and are signed on behalf of the board by:

N Wilson

Director

Company registration number: 08213722

Wilson Field Limited

Notes to the Abridged Financial Statements

Year Ended 31 August 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Manor House, 260 Ecclesall Road South, Sheffield, South Yorkshire, S11 9PS.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Research and development

Expenditure on research and development is charged to the income statement in the year in which it is incurred.

Revenue recognition

Revenue represents amounts recoverable from clients for professional services provided during the year, excluding value added tax. The company recognises revenue when the amount can be reliably measured and it is probable economic benefits will flow. Services provided to clients, which at the balance sheet date have not been billed, are recognised as unbilled income within trade and other receivables. Provision is made in full for foreseeable losses.

Income tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 87 (2017: 95 ).

5. Debtors

Debtors include amounts of £280,000 (2017: £280,000) falling due after more than one year.

6. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	1,004	1,004.00	1,004	1,004.00
	-------	----------	-------	----------

7. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2018	2017
	£	£
Not later than 1 year	123,324	187,453
Later than 1 year and not later than 5 years	401,669	394,432
Later than 5 years	417,771	508,921
	---------	------------
	942,764	1,090,806
	---------	------------

8. Directors' advances, credits and guarantees

During the year the company made a 2.5% interest bearing loan to the director as follows :

	Balance at 1 Sept 2017	Advances during the year	Repayments during the year	Balance at 31 Aug 2018
	£	£	£	£
N Wilson	(11,664)	312,071	(300,638)	(231)

9. Related party transactions

The company has taken advantage of exemption conferred by FRS 102 S33.1A, removing the requirement to disclose transactions between group companies. The company has entered into cross-guarantees for overdraft and loan facilities made available to the ultimate parent company, Wilson Field Group Limited. It is not anticipated that any material liabilities will arise from the contingent liabilities other than those provided for in these financial statements. The company treats guarantees and indemnities of this nature as contingent liabilities until such time as it becomes probable that the company will be required to make a payment under the terms of of the arrangement.

10. Controlling party

The company is a wholly owned subsidiary of Wilson Field Group Limited , a company incorporated and registered in England and Wales. The registered office is The Manor House, 260 Ecclesall Road South, Sheffield, South Yorkshire, S11 9PS .

11. Beneficial ownership

From 1 May 2017, Julie Wilson holds the beneficial interest of 75% of the share capital of the ultimate parent company - Wilson Field Group Limited.