Welshpool Holdings Limited - Accounts to registrar (filleted) - small 18.2

Welshpool Holdings Limited - Accounts to registrar (filleted) - small 18.2

WELSHPOOL HOLDINGS LIMITED - Company Information

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REGISTERED NUMBER: 07059524 (England and Wales)









WELSHPOOL HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019






WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WELSHPOOL HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DIRECTORS: R W Hudson
J O Evans
R D Evans





REGISTERED OFFICE: The New Smithfield
Buttington Cross
Welshpool
Powys
SY21 8SR





REGISTERED NUMBER: 07059524 (England and Wales)
Page 1
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,018,344 1,042,354
Investments 5 1 1
1,018,345 1,042,355

CURRENT ASSETS
Debtors 6 917,537 866,012
Cash at bank 12,284 317
929,821 866,329
CREDITORS
Amounts falling due within one year 7 1,737,029 1,723,951
NET CURRENT LIABILITIES (807,208 ) (857,622 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
211,137
184,733

PROVISIONS FOR LIABILITIES 22,230 23,563
NET ASSETS 188,907 161,170

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 188,905 161,168
SHAREHOLDERS' FUNDS 188,907 161,170

The notes form part of these financial statements

Page 2 continued...
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2019


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 Board of Directors and authorised for issue on 17 September 2020 and
were signed on its behalf by:




R W Hudson - Director



J O Evans - Director


The notes form part of these financial statements

Page 3
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019


1. STATUTORY INFORMATION

Welshpool Holdings 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.

Preparation of consolidated financial statements
The financial statements contain information about Welshpool Holdings Limited as an individual company and do
not contain consolidated financial information as the parent of a group. The company is exempt under Section
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales, excluding vale added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 4% Straight Line

Freehold Property has not been depreciated as in the opinion of the directors, the depreciation charge and
accumulated depreciation would be immaterial due to the long economic life and high residual value of the
freehold property.

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 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.

Page 4 continued...
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 January 2019
and 31 December 2019 656,874 600,253 1,257,127
DEPRECIATION
At 1 January 2019 - 214,773 214,773
Charge for year - 24,010 24,010
At 31 December 2019 - 238,783 238,783
NET BOOK VALUE
At 31 December 2019 656,874 361,470 1,018,344
At 31 December 2018 656,874 385,480 1,042,354

Freehold Property has not been depreciated as in the opinion of the directors, the depreciation charge and
accumulated depreciation would be immaterial due to the long economic life and high residual value of the
freehold property.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2019
and 31 December 2019 1
NET BOOK VALUE
At 31 December 2019 1
At 31 December 2018 1

Page 5 continued...
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed by group undertakings 917,403 865,878
Other debtors 134 134
917,537 866,012

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors - (1 )
Taxation and social security 7,877 6,800
Other creditors 1,729,152 1,717,152
1,737,029 1,723,951

8. CONTINGENT LIABILITIES

The company has provided a guarantee for all bank borrowings of Welshpool Livestock Sales Limited, a wholly
owned subsidiary.

9. RELATED PARTY DISCLOSURES

At 31 December 2019 there was an amount due from a wholly owned subsidiary, of £917,403 (2018: £865,878).

At 31 December 2019, included in other creditors, there were amounts due of £1,727,652 (2018: £1,715,652) to
controlling parties.

10. CONTROLLING PARTY

The controlling party is Messrs Morris Marshall & Poole with Norman Lloyd who owns 100% of the share
capital.

Page 6