Whiteway Publications Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01655807 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

WHITEWAY PUBLICATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A N Whiteway

M Mostyn

SECRETARY:

M Mostyn

REGISTERED OFFICE:

124 High Street

Midsomer Norton

Radstock

Bath

Somerset

BA3 2DA

REGISTERED NUMBER:

01655807 (England and Wales)

ACCOUNTANTS:

Pethericks & Gillard Limited

Chartered Accountants

124 High Street

Midsomer Norton

Bath

BA3 2DA

FIXED ASSETS

Tangible assets

4

20,110

38,818

CURRENT ASSETS

Stocks

485,534

562,982

Debtors

5

889,927

1,277,363

Cash at bank

901,624

898,624

2,277,085

2,738,969

CREDITORS

Amounts falling due within one year

6

245,582

292,251

NET CURRENT ASSETS

2,031,503

2,446,718

TOTAL ASSETS LESS CURRENT LIABILITIES

2,051,613

2,485,536

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,051,513

2,485,436

SHAREHOLDERS' FUNDS

2,051,613

2,485,536

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 8 September 2017 and were signed on its behalf by:

A N Whiteway - Director

1.	STATUTORY INFORMATION

Whiteway Publications 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life :

Improvements to property - in accordance with the property over 5 years on a straight line basis

Motor vehicles - 25% on a straight line basis

Plant and equipment - 20% and 25% on a straight line basis

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor, are charged to the profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Motor

Plant and

property

vehicles

Equipment

Totals

£

£

£

£

COST

At 1 January 2016

and 31 December 2016

29,469

10,995

135,323

175,787

DEPRECIATION

At 1 January 2016

9,688

7,329

119,952

136,969

Charge for year

5,892

2,748

10,068

18,708

At 31 December 2016

15,580

10,077

130,020

155,677

NET BOOK VALUE

At 31 December 2016

13,889

918

5,303

20,110

At 31 December 2015

19,781

3,666

15,371

38,818

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

348,994

699,093

Other debtors

416,701

443,093

Tax

-

27,904

Prepayments and accrued income

124,232

107,273

889,927

1,277,363

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

192,029

162,586

Social security and other taxes

2,050

36,295

Directors' current accounts

9,337

34,337

Accrued expenses

42,166

59,033

245,582

292,251

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £80,000 were paid to the directors .

The company was under the control of Mr A N Whiteway and Mr M Mostyn who are directors of the company.

Mr A N Whiteway is the managing director of the company and owns all the issued share capital. It is the

company's policy to charge the official rate of interest on any overdrawn directors loan accounts.

During the year the company provided finance to Two Up Two Down Enterprise Limited, a company owned and

controlled by Mr A N Whiteway. The amount owed at the year end was £416,701 (2015 - £442,293).