The Wheatsheaf Staindrop Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09038775 (England and Wales)

Financial Statements for the Year Ended 31 May 2019

for

The Wheatsheaf Staindrop Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Miss L Race

REGISTERED OFFICE:

23 Woodland Road

Darlington

Co. Durham

DL3 7BJ

REGISTERED NUMBER:

09038775 (England and Wales)

ACCOUNTANTS:

Chrichard & Co

23 Woodland Road

Darlington

Co. Durham

DL3 7BJ

FIXED ASSETS

Intangible assets

4

15,400

30,800

Tangible assets

5

7,176

8,140

22,576

38,940

CURRENT ASSETS

Stocks

3,845

3,827

Debtors

2

2

Cash at bank and in hand

12,625

6,436

16,472

10,265

CREDITORS

Amounts falling due within one year

37,993

48,657

NET CURRENT LIABILITIES

(21,521

)

(38,392

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,055

548

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

1,053

546

SHAREHOLDERS' FUNDS

1,055

548

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

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

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 21 January 2020 and were signed by:

Miss L Race - Director

1.	STATUTORY INFORMATION

The Wheatsheaf Staindrop Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of six 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 etc

-

15% 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 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 statement of financial position date.

Deferred tax

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

statement of financial position 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 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2018

and 31 May 2019

66,000

AMORTISATION

At 1 June 2018

35,200

Amortisation for year

15,400

At 31 May 2019

50,600

NET BOOK VALUE

At 31 May 2019

15,400

At 31 May 2018

30,800

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2018

15,549

Additions

303

At 31 May 2019

15,852

DEPRECIATION

At 1 June 2018

7,409

Charge for year

1,267

At 31 May 2019

8,676

NET BOOK VALUE

At 31 May 2019

7,176

At 31 May 2018

8,140

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1.00

2

2