Welshpool Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07059524 (England and Wales)

WELSHPOOL HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Sheppard

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)

ACCOUNTANTS:

Morgans

Clive House

Severn Road

Welshpool

Powys

SY21 7AL

FIXED ASSETS

Tangible assets

3

1,090,374

1,114,384

Investments

4

1

1

1,090,375

1,114,385

CURRENT ASSETS

Debtors

5

952,248

1,369,245

Cash at bank

261

60,241

952,509

1,429,486

CREDITORS

Amounts falling due within one year

6

1,913,514

2,412,468

NET CURRENT LIABILITIES

(961,005

)

(982,982

)

TOTAL ASSETS LESS CURRENT LIABILITIES

129,370

131,403

PROVISIONS FOR LIABILITIES

23,672

24,348

NET ASSETS

105,698

107,055

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

105,696

107,053

SHAREHOLDERS' FUNDS

105,698

107,055

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 14 September 2017 and were signed on its behalf by:

R W Hudson - Director

C J Sheppard - Director

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 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.

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 has taken the option

under Section 398 of the Companies Act 2006 not 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 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.

3.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 January 2016

and 31 December 2016

656,874

600,253

1,257,127

DEPRECIATION

At 1 January 2016

-

142,743

142,743

Charge for year

-

24,010

24,010

At 31 December 2016

-

166,753

166,753

NET BOOK VALUE

At 31 December 2016

656,874

433,500

1,090,374

At 31 December 2015

656,874

457,510

1,114,384

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.

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2016

and 31 December 2016

1

NET BOOK VALUE

At 31 December 2016

1

At 31 December 2015

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

952,114

1,369,245

Other debtors

134

-

952,248

1,369,245

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

500,000

Trade creditors

(1

)

(1

)

Taxation and social security

6,313

5,267

Other creditors

1,907,202

1,907,202

1,913,514

2,412,468

7.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank loans

-

500,000

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 2016 there was an amount due from a wholly owned subsidiary, of £952,114

(2015:£1,369,245).

At 31 December 2016, included in other creditors, there were amounts due of £1,905,652 (2015: £1,905,652) to

controlling parties.

10.	CONTROLLING PARTY

The controlling party is Messrs Morris Marshall & Poole and Norman Lloyd & Co who each own 50% of the

share capital.