W Robinson (Bilsborrow) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00691397 (England and Wales)

Financial Statements for the Year Ended 31 May 2018

for

W Robinson (Bilsborrow) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W Robinson

Mr H Robinson

Mr LA Robinson

SECRETARIES:

Mrs C Robinson

Mrs JM Robinson

REGISTERED OFFICE:

Craigmore

Bilsborrow Lane

Bilsborrow

Preston

Lancashire

PR3 0RN

REGISTERED NUMBER:

00691397 (England and Wales)

ACCOUNTANTS:

Towers + Gornall Ltd

Chartered Certified Accountants

Abacus House

The Ropewalk

Garstang

Preston

Lancashire

PR3 1NS

BANKERS:

HSBC

49a Fishergate

Preston

Lancashire

PR1 8BH

FIXED ASSETS

Tangible assets

3

1,096,109

1,024,521

CURRENT ASSETS

Stocks

25,515

22,035

Debtors

4

1,239,119

1,015,403

Cash at bank and in hand

2,064,287

1,902,275

3,328,921

2,939,713

CREDITORS

Amounts falling due within one year

5

1,142,568

851,323

NET CURRENT ASSETS

2,186,353

2,088,390

TOTAL ASSETS LESS CURRENT LIABILITIES

3,282,462

3,112,911

CREDITORS

Amounts falling due after more than one year

6

(91,391

)

(126,391

)

PROVISIONS FOR LIABILITIES

(172,028

)

(162,867

)

NET ASSETS

3,019,043

2,823,653

CAPITAL AND RESERVES

Called up share capital

13,000

13,000

Retained earnings

3,006,043

2,810,653

SHAREHOLDERS' FUNDS

3,019,043

2,823,653

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 18 July 2018 and were signed on its behalf by:

Mr W Robinson - Director

Mr H Robinson - Director

Mr LA Robinson - Director

1.	STATUTORY INFORMATION

W Robinson (Bilsborrow) 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 represents amounts receivable for haulage and related merchantable products and services net of VAT

and trade discounts. Income is recognised at point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Tractors

-

20% on reducing balance

Motor vehicles and trailers

-

25% on reducing balance, 20% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the entity after deducting all of its financial liabilities.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	TANGIBLE FIXED ASSETS

Motor

vehicles

Plant and

and

machinery

Tractors

trailers

Totals

£

£

£

£

COST

At 1 June 2017

117,912

27,950

2,323,803

2,469,665

Additions

-

-

333,584

333,584

Disposals

-

-

(145,500

)

(145,500

)

At 31 May 2018

117,912

27,950

2,511,887

2,657,749

DEPRECIATION

At 1 June 2017

112,705

13,640

1,318,799

1,445,144

Charge for year

1,042

2,862

182,501

186,405

Eliminated on disposal

-

-

(69,909

)

(69,909

)

At 31 May 2018

113,747

16,502

1,431,391

1,561,640

NET BOOK VALUE

At 31 May 2018

4,165

11,448

1,080,496

1,096,109

At 31 May 2017

5,207

14,310

1,005,004

1,024,521

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

and

trailers

£

COST

At 1 June 2017

739,900

Additions

153,812

At 31 May 2018

893,712

DEPRECIATION

At 1 June 2017

202,116

Charge for year

90,100

At 31 May 2018

292,216

NET BOOK VALUE

At 31 May 2018

601,496

At 31 May 2017

537,784

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,201,911

983,324

Other debtors

500

-

Prepayments

36,708

32,079

1,239,119

1,015,403

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

120,092

-

Hire purchase contracts

134,998

106,665

Trade creditors

686,140

515,765

Corporation tax

39,486

15,334

Social security and other taxes

67,609

107,506

Other creditors

1,400

29,388

Directors' current accounts

86,943

71,065

Accrued expenses

5,900

5,600

1,142,568

851,323

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

91,391

126,391

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

226,389

233,056

8.	RELATED PARTY DISCLOSURES

As at 31 May 2018 the company owed £86,943 to directors (2017 £71,064). No interest has been charged to the

company in respect of this loan which is repayable on demand and is classified in creditors due within one year.