James Walker Textiles Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06382867 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

JAMES WALKER TEXTILES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

53,496

64,896

Investments

5

194,640

194,640

248,136

259,536

CURRENT ASSETS

Stocks

714,345

440,948

Debtors

6

349,594

437,155

Cash at bank and in hand

954,665

1,153,585

2,018,604

2,031,688

CREDITORS

Amounts falling due within one year

7

382,097

397,572

NET CURRENT ASSETS

1,636,507

1,634,116

TOTAL ASSETS LESS CURRENT LIABILITIES

1,884,643

1,893,652

CAPITAL AND RESERVES

Called up share capital

147,601

147,601

Share premium

1,715,945

1,715,945

Retained earnings

21,097

30,106

1,884,643

1,893,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 24 May 2018 and were signed by:

J P S Walker - Director

1.	STATUTORY INFORMATION

James Walker Textiles Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address are as below:

Registered number:

06382867

Registered office:

Holme Bank Mills

Mirfield

West Yorkshire

WF14 8NA

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.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Investments in subsidiaries

Investment in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Investments

Fixed asset investments in group undertakings are stated at cost less provision for impairment in value. The

group is exempt from preparing group accounts under section 398 of the Companies Act 2006. The

financial statements, therefore, present information about the individual company and not its group.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2017

69,896

11,403

49,634

57,400

188,333

Additions

-

-

-

3,898

3,898

At 31 January 2018

69,896

11,403

49,634

61,298

192,231

DEPRECIATION

At 1 February 2017

17,630

11,403

42,228

52,176

123,437

Charge for year

7,163

-

5,076

3,059

15,298

At 31 January 2018

24,793

11,403

47,304

55,235

138,735

NET BOOK VALUE

At 31 January 2018

45,103

-

2,330

6,063

53,496

At 31 January 2017

52,266

-

7,406

5,224

64,896

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2017

and 31 January 2018

194,640

NET BOOK VALUE

At 31 January 2018

194,640

At 31 January 2017

194,640

6.

DEBTORS

31.1.18

31.1.17

£

£

Amounts falling due within one year:

Trade debtors

234,698

282,637

Other debtors

72,598

94,558

307,296

377,195

Amounts falling due after more than one year:

Other debtors

42,298

59,960

Aggregate amounts

349,594

437,155

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade creditors

116,756

135,560

Amounts owed to group undertakings

194,640

194,640

Taxation and social security

45,682

34,731

Other creditors

25,019

32,641

382,097

397,572