RunWales Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07452636 (England and Wales)

RunWales Limited

Unaudited Financial Statements

for the Year Ended 28 February 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr C J Yorke

REGISTERED OFFICE:

Brynford House

21 Brynford Street

Holywell

Flintshire

CH8 7RD

REGISTERED NUMBER:

07452636 (England and Wales)

ACCOUNTANTS:

Gardners

Brynford House

21 Brynford Street

Holywell

Flintshire

CH8 7RD

FIXED ASSETS

Intangible assets

4

-

1,192

Tangible assets

5

23,751

29,689

23,751

30,881

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

6

26,591

4,784

Cash at bank

69

56

36,660

14,840

CREDITORS

Amounts falling due within one year

7

59,268

57,632

NET CURRENT LIABILITIES

(22,608

)

(42,792

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,143

(11,911

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,043

(12,011

)

SHAREHOLDERS' FUNDS

1,143

(11,911

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 director on 23 December 2019 and were signed by:

Mr C J Yorke - Director

1.	STATUTORY INFORMATION

RunWales 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.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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

-

20% on reducing balance

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 Statement of Income and

Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2018

and 28 February 2019

2,977

AMORTISATION

At 1 March 2018

1,785

Charge for year

1,192

At 28 February 2019

2,977

NET BOOK VALUE

At 28 February 2019

-

At 28 February 2018

1,192

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 March 2018

and 28 February 2019

11,688

28,723

1,583

41,994

DEPRECIATION

At 1 March 2018

4,196

7,490

619

12,305

Charge for year

1,498

4,247

193

5,938

At 28 February 2019

5,694

11,737

812

18,243

NET BOOK VALUE

At 28 February 2019

5,994

16,986

771

23,751

At 28 February 2018

7,492

21,233

964

29,689

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

26,591

4,784

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

4

4

Trade creditors

33,095

33,095

Taxation and social security

5,352

5,352

Other creditors

20,817

19,181

59,268

57,632

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

9.	GOING CONCERN

At 28 February 2018 total liabilities exceeded total assets by £11,911. It is considered that continued trading will

lead to future profitability and this together with the financial support provided by the shareholder and director

justifies the preparation of the financial accounts on a going concern basis.