Wynyard Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07757320 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Wynyard Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B Miller

C Barnes

R C S J Wilson

REGISTERED OFFICE:

Maritime House

Harbour Walk

The Marina

Hartlepool

TS24 0UX

REGISTERED NUMBER:

07757320 (England and Wales)

ACCOUNTANTS:

Christopher Bailey

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

FIXED ASSETS

Tangible assets

4

27,037

31,537

CURRENT ASSETS

Stocks

8,068,717

6,916,643

Debtors

5

496,422

313,834

Cash at bank and in hand

1,598,814

1,511,955

10,163,953

8,742,432

CREDITORS

Amounts falling due within one year

6

9,500,194

8,395,605

NET CURRENT ASSETS

663,759

346,827

TOTAL ASSETS LESS CURRENT LIABILITIES

690,796

378,364

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

690,696

378,264

SHAREHOLDERS' FUNDS

690,796

378,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 June 2019 and were signed on its behalf by:

B Miller - Director

1.	STATUTORY INFORMATION

Wynyard Homes Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 10% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

52,263

Additions

557

At 31 March 2019

52,820

DEPRECIATION

At 1 April 2018

20,726

Charge for year

5,057

At 31 March 2019

25,783

NET BOOK VALUE

At 31 March 2019

27,037

At 31 March 2018

31,537

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

104,992

2,028

Other debtors

300,613

265,000

VAT

83,822

45,461

Prepayments and accrued income

6,995

1,345

496,422

313,834

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other loans

1,000,000

-

Trade creditors

479,693

240,812

Tax

39,334

353

Social security and other taxes

11,501

16,245

Other creditors

7,435,422

8,124,495

Directors' current accounts

450,000

-

Accruals and deferred income

84,244

13,700

9,500,194

8,395,605

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

Within one year

22,600

-

Between one and five years

90,400

-

In more than five years

45,200

-

158,200

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Other loans

1,000,000

-

Other creditors

7,106,884

-

8,106,884

-

9.	RELATED PARTY DISCLOSURES

During the year Barry Miller, the director, charged the company £42,000 for consultancy services (2018 -

£43,019).

Included within other debtors is a an amount of £35,613 (2018: £100,000) due from Wynyard Construction &

Development Limited a company in which shares the same directors as Wynyard Homes Limited.

Included within other creditors is an amount of £328,000 (2018: £400,000) due to Wynyard Residential Limited

a company controlled by the director Barry Miller.

10.	POST BALANCE SHEET EVENTS

2019

2018

£

£

Proposed for approval by shareholders at the AGM

Final dividend for 2019: £1,200 per share

120,000

Nil

Subject to approval by shareholders at the AGM the proposed dividend will be paid in August 2019 and will be

accounted for as an appropriation of retained earnings in the year ended 31st March 2020.