Trade Window Supplies Limited 30/11/2018 iXBRL
Trade Window Supplies Limited 30/11/2018 iXBRL
Company registration number:
06638072
Unaudited filleted financial statements
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Director |
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Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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45/49 Greek Street | ||
Stockport | ||
Cheshire | ||
SK3 8AX | ||
Bankers |
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10 Booth Street | ||
Manchester | ||
M2 4AW | ||
Chartered certified accountants' report to the director on the preparation of the
unaudited statutory financial statements of Trade Window Supplies Limited
Year ended 30th November 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trade Window Supplies Limited for the year ended 30th November 2018 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Trade Window Supplies Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Trade Window Supplies Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical- factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trade Window Supplies Limited and its director as a body for our work or for this report.
It is your duty to ensure that Trade Window Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Trade Window Supplies Limited. You consider that Trade Window Supplies Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Trade Window Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Certified Accountants
45/49 Greek Street
Stockport
Cheshire
SK3 8AX
19th August 2019
Statement of financial position
30th November 2018
2018 | 2017 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 | - |
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Tangible assets | 6 |
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Current assets | |||||||||
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current liabilities |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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_______ | _______ | ||||||||
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 August 2019
, and are signed on behalf of the board by:
........................
Director
Company registration number:
06638072
Notes to the financial statements
Year ended 30th November 2018
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 45/49 Greek Street, Stockport, Cheshire, SK3 8AX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Goodwill
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill | - |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery | - |
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Fittings fixtures and equipment | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2017:
3
).
5.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1st December 2017 and 30th November 2018 |
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Amortisation | |||
At 1st December 2017 |
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Charge for the year |
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At 30th November 2018 |
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Carrying amount | |||
At 30th November 2018 | - | - | |
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At 30th November 2017 |
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6.
Tangible assets
Plant and machinery | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1st December 2017 and 30th November 2018 |
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Depreciation | ||||
At 1st December 2017 |
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Charge for the year |
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_______ | _______ | _______ | ||
At 30th November 2018 |
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_______ | _______ | _______ | ||
Carrying amount | ||||
At 30th November 2018 |
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_______ | _______ | _______ | ||
At 30th November 2017 |
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_______ | _______ | _______ | ||
7.
Debtors
2018 | 2017 | |||
£ | £ | |||
Trade debtors |
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8.
Creditors: amounts falling due within one year
2018 | 2017 | |||
£ | £ | |||
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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9.
Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company: | |||||
2018 | |||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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_______ | _______ | _______ | _______ | ||
2017 | |||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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10.
Controlling party
The company is under the control of the
director
by virtue of her shareholding.