Worktown Office Supplies Limited - Accounts to registrar (filleted) - small 18.2

Worktown Office Supplies Limited - Accounts to registrar (filleted) - small 18.2

WORKTOWN OFFICE SUPPLIES LIMITED - Company Information

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REGISTERED NUMBER: 01834121 (England and Wales)












WORKTOWN OFFICE SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019






WORKTOWN OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 01834121)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WORKTOWN OFFICE SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2019







DIRECTOR: J P Dickson



REGISTERED OFFICE: Highland House
Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR



REGISTERED NUMBER: 01834121 (England and Wales)



BANKERS: National Westminster Bank plc
PO Box 1000
Brunswick Gate
23 Brunswick Place
Southampton
Hampshire
SO15 2QF
Page 1
WORKTOWN OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 01834121)

BALANCE SHEET
30 SEPTEMBER 2019

2019 2018
Notes £    £   
CURRENT ASSETS
Stocks - 274,500
Debtors 5 3,105,747 2,773,653
Cash in hand 50 50
3,105,797 3,048,203
CREDITORS
Amounts falling due within one year 6 (2,835,425 ) (2,825,526 )
NET CURRENT ASSETS 270,372 222,677
TOTAL ASSETS LESS CURRENT
LIABILITIES
270,372
222,677

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Retained earnings (229,628 ) (277,323 )
SHAREHOLDERS' FUNDS 270,372 222,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these financial statements

Page 2 continued...
WORKTOWN OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 01834121)

BALANCE SHEET - continued
30 SEPTEMBER 2019


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 June 2020 and were signed by:





J P Dickson - Director


The notes form part of these financial statements

Page 3
WORKTOWN OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 01834121)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019


1. STATUTORY INFORMATION

Worktown Office Supplies 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 FRS 102 "The Financial Reporting Standards
applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as
applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is
required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary
amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain
financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the small companies' exemption not to prepare consolidated accounts.

The accounts have been prepared on the going concern basis. The company is reliant upon the support of other
group companies in order to continue its activities. The directors have obtained written confirmations that this
support will continue for the foreseeable future.

The directors have considered the impact and risk on the company of COVID-19 and the company's prospects,
recognising the high degree of uncertainty. The directors have concluded that with the right management actions
the company is a going concern for at least 12 months following the signature of the financial statements.
Accordingly the directors have prepared the financial statements on this basis.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are
physically dispatched to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Over the length of the lease
Fixtures and fittings - 15% - 33% Straight line
Motor vehicles - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and
the carrying value of the asset and is recognised in the income statement.

Page 4 continued...
WORKTOWN OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 01834121)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2019


2. ACCOUNTING POLICIES - continued

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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other
Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party
to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured
at transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at
the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and
subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the
debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue
costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the
discretion of the company.

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.

Page 5 continued...
WORKTOWN OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 01834121)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2019


2. ACCOUNTING POLICIES - continued

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 NIL (2018 - NIL).

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2018
and 30 September 2019 88,271 173,494 13,664 275,429
DEPRECIATION
At 1 October 2018
and 30 September 2019 88,271 173,494 13,664 275,429
NET BOOK VALUE
At 30 September 2019 - - - -
At 30 September 2018 - - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed by group undertakings 2,771,714 2,771,714
Other debtors 334,033 1,939
3,105,747 2,773,653

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed to group undertakings 2,825,249 2,792,105
Other creditors 10,176 33,421
2,835,425 2,825,526

7. POST BALANCE SHEET EVENTS

COVID-19 and its effects on the business represent a non-adjusting post balance sheet event.

Page 6