Welshpool Livestock Sales Limited - Limited company - abbreviated - 11.0.0

Welshpool Livestock Sales Limited - Limited company - abbreviated - 11.0.0

WELSHPOOL LIVESTOCK SALES LIMITED - Company Information

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REGISTERED NUMBER: 07059465 (England and Wales)









WELSHPOOL LIVESTOCK SALES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013






WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013










Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2013

2013 2012
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 560,000 595,000
Tangible assets 3 1,136,706 1,200,723
1,696,706 1,795,723

CURRENT ASSETS
Debtors 3,266,433 2,150,684

CREDITORS
Amounts falling due within one year 4 4,770,563 3,753,540
NET CURRENT LIABILITIES (1,504,130 ) (1,602,856 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
192,576
192,867

PROVISIONS FOR LIABILITIES 118,112 117,297
NET ASSETS 74,464 75,570

CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and loss account 74,463 75,569
SHAREHOLDERS' FUNDS 74,464 75,570

The notes form part of these abbreviated accounts

Page 1 continued...
WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

ABBREVIATED BALANCE SHEET - continued
31 DECEMBER 2013


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 3 July 2014 and were signed on its
behalf by:




R W Hudson - Director



C J Sheppard - Director


The notes form part of these abbreviated accounts

Page 2
WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance
with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty 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 - 10% Straight Line
Market Equipment - 4% Straight Line
Computer equipment - 25% Straight Line

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

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2013
and 31 December 2013 700,000
AMORTISATION
At 1 January 2013 105,000
Amortisation for year 35,000
At 31 December 2013 140,000
NET BOOK VALUE

At 31 December 2013 560,000
At 31 December 2012 595,000

Page 3 continued...
WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2013


3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2013 1,438,592
Additions 23,875
Disposals (1,500 )
At 31 December 2013 1,460,967
DEPRECIATION
At 1 January 2013 237,869
Charge for year 86,842
Eliminated on disposal (450 )
At 31 December 2013 324,261
NET BOOK VALUE
At 31 December 2013 1,136,706
At 31 December 2012 1,200,723

4. CREDITORS

Creditors include an amount of £ 1,959,965 (2012 - £ 1,103,055 ) for which security has been given.

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2013 2012
value: £    £   
1 Ordinary £1 1 1

6. CONTROLLING PARTY

The company is a wholly owned subsidiary of Welshpool Holdings Limited, a company incorporated
in England and Wales. Welshpool Holdings Limited is under the control of Messrs Morris Marshall &
Poole and Norman Lloyd & Co, who each own 50% of the issued share capital.

Page 4