Yorkshire Paints-Ozchem Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05397541 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Yorkshire Paints-Ozchem Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr P Haigh

Mrs E A Haigh

Mr J P Haigh

SECRETARY:

Mrs E A Haigh

REGISTERED OFFICE:

Queens Mill

Mill Street East

Dewsbury

West Yorkshire

WF12 9AQ

REGISTERED NUMBER:

05397541 (England and Wales)

ACCOUNTANTS:

Harris & Co Limited

Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

FIXED ASSETS

Intangible assets

5

15,000

17,500

Tangible assets

6

11,559

14,638

26,559

32,138

CURRENT ASSETS

Stocks

15,125

14,150

Debtors

7

80,747

89,517

Cash at bank and in hand

14,012

16,143

109,884

119,810

CREDITORS

Amounts falling due within one year

8

100,042

108,965

NET CURRENT ASSETS

9,842

10,845

TOTAL ASSETS LESS CURRENT LIABILITIES

36,401

42,983

CREDITORS

Amounts falling due after more than one year

9

(33,279

)

(39,824

)

PROVISIONS FOR LIABILITIES

(2,196

)

(2,781

)

NET ASSETS

926

378

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

826

278

SHAREHOLDERS' FUNDS

926

378

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 31 July 2019 and were signed on its behalf by:

Mr P Haigh - Director

1.	STATUTORY INFORMATION

Yorkshire Paints-Ozchem 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.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis under the historical cost

convention.

Significant judgements and estimates

The principal accounting policies and significant judgements and estimates applied in the preparation

of these financial statements are set out below. These policies, judgements and estimates have been

consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents amounts earned on goods provided during the year and derives from the

provision of goods falling within the company's ordinary activities. Turnover is recognised at the point

of despatch of the goods.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

All fixed assets are initially recorded at cost.

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 Profit and Loss

Account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

50,000

AMORTISATION

At 1 April 2018

32,500

Amortisation for year

2,500

At 31 March 2019

35,000

NET BOOK VALUE

At 31 March 2019

15,000

At 31 March 2018

17,500

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

and 31 March 2019

14,822

8,213

15,000

38,035

DEPRECIATION

At 1 April 2018

10,354

6,479

6,564

23,397

Charge for year

670

300

2,109

3,079

At 31 March 2019

11,024

6,779

8,673

26,476

NET BOOK VALUE

At 31 March 2019

3,798

1,434

6,327

11,559

At 31 March 2018

4,468

1,734

8,436

14,638

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

80,039

75,257

Other debtors

708

14,260

80,747

89,517

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

5,000

5,000

Hire purchase contracts

3,046

3,046

Trade creditors

68,073

80,244

Taxation and social security

21,663

19,100

Other creditors

2,260

1,575

100,042

108,965

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

28,777

32,276

Hire purchase contracts

4,502

7,548

33,279

39,824

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

8,777

12,276

8,777

12,276

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

49

A Ordinary

£1

49

49

49

B Ordinary

£1

49

49

2

C Ordinary

£1

2

2

100

100