Company Registration No. 04715243 (England and Wales)
ANDRE WOOD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2017
PAGES FOR FILING WITH REGISTRAR
ANDRE WOOD LIMITED
COMPANY INFORMATION
Directors
Mr A F Wood
Mrs L A V Wood
Secretary
Mrs L A V Wood
Company number
04715243
Registered office
15 Furlongs Road
Cleobury Mortimer
Kidderminster
Worcestershire
DY14 8AR
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
The Royal Bank of Scotland plc
55/56 Worcester Street
Kidderminster
Worcestershire
DY10 1EL
ANDRE WOOD LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
ANDRE WOOD LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ANDRE WOOD LIMITED FOR THE PERIOD ENDED 31 OCTOBER 2017
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andre Wood Limited for the period ended 31 October 2017 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Andre Wood Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Andre Wood Limited and state those matters that we have agreed to state to the Board of Directors of Andre Wood Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andre Wood Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Andre Wood Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Andre Wood Limited. You consider that Andre Wood Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Andre Wood Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
23 January 2018
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ANDRE WOOD LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2017
31 October 2017
- 2 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
3,043
Current assets
Stocks
-
628
Debtors
5
146
2,174
Cash at bank and in hand
486
-
632
2,802
Creditors: amounts falling due within one year
6
(15,857)
(14,176)
Net current liabilities
(15,225)
(11,374)
Total assets less current liabilities
(15,225)
(8,331)
Capital and reserves
Called up share capital
7
175
175
Profit and loss reserves
(15,400)
(8,506)
Total equity
(15,225)
(8,331)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 23 January 2018 and are signed on its behalf by:
Mr A F Wood
Mrs L A V Wood
Director
Director
Company Registration No. 04715243
ANDRE WOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2017
- 3 -
1
Accounting policies
Company information
Andre Wood Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15 Furlongs Road, Cleobury Mortimer, Kidderminster, Worcestershire, DY14 8AR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the period ended 31 October 2017 are the first financial statements of Andre Wood Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 May 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2003, has been fully amortised evenly over its estimated useful life of ten years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% on reducing balance
Computer equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
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 credited or charged to profit or loss.
ANDRE WOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2017
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2 (2016 - 2).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2016 and 31 October 2017
7,500
Amortisation and impairment
At 1 May 2016 and 31 October 2017
7,500
Carrying amount
At 31 October 2017
-
At 30 April 2016
-
ANDRE WOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2017
- 5 -
4
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2016
3,889
2,839
4,400
11,128
Disposals
(3,889)
(2,839)
(4,400)
(11,128)
At 31 October 2017
-
-
-
-
Depreciation and impairment
At 1 May 2016
1,757
2,067
4,261
8,085
Depreciation charged in the period
482
175
53
710
Eliminated in respect of disposals
(2,239)
(2,242)
(4,314)
(8,795)
At 31 October 2017
-
-
-
-
Carrying amount
At 31 October 2017
-
-
-
-
At 30 April 2016
2,132
772
139
3,043
5
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
-
2,174
Other debtors
146
-
146
2,174
6
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
-
4,252
Other taxation and social security
-
429
Other creditors
15,857
9,495
15,857
14,176
ANDRE WOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2017
- 6 -
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
50 Ordinary B of £1 each
50
50
50 Ordinary C of 50p each
25
25
175
175
8
Ultimate controlling party
The ultimate controlling party is Mr A F Wood and Mrs L A V Wood.
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