Welshpool Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07059524 (England and Wales)

WELSHPOOL HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

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)

FIXED ASSETS

Tangible assets

3

1,066,364

1,090,374

Investments

4

1

1

1,066,365

1,090,375

CURRENT ASSETS

Debtors

5

815,716

952,248

Cash at bank

261

261

815,977

952,509

CREDITORS

Amounts falling due within one year

6

1,725,188

1,913,514

NET CURRENT LIABILITIES

(909,211

)

(961,005

)

TOTAL ASSETS LESS CURRENT LIABILITIES

157,154

129,370

PROVISIONS FOR LIABILITIES

23,806

23,672

NET ASSETS

133,348

105,698

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

133,346

105,696

SHAREHOLDERS' FUNDS

133,348

105,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 17 July 2018 and were signed on its behalf by:

R W Hudson - Director

J O Evans - 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

is exempt under Section 399(2A) of the Companies Act 2006 from the requirements 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 2017

and 31 December 2017

656,874

600,253

1,257,127

DEPRECIATION

At 1 January 2017

-

166,753

166,753

Charge for year

-

24,010

24,010

At 31 December 2017

-

190,763

190,763

NET BOOK VALUE

At 31 December 2017

656,874

409,490

1,066,364

At 31 December 2016

656,874

433,500

1,090,374

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 2017

and 31 December 2017

1

NET BOOK VALUE

At 31 December 2017

1

At 31 December 2016

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

815,582

952,114

Other debtors

134

134

815,716

952,248

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

(1

)

(1

)

Taxation and social security

6,487

6,313

Other creditors

1,718,702

1,907,202

1,725,188

1,913,514

7.	CONTINGENT LIABILITIES

The company has provided a guarantee for all bank borrowings of Welshpool Livestock Sales

Limited, a wholly owned subsidiary.

8.	RELATED PARTY DISCLOSURES

At 31 December 2017 there was an amount due from a wholly owned subsidiary, of £815,582 (2016:

£952,114).

At 31 December 2017, included in other creditors, there were amounts due of £1,715,652 (2016:

£1,905,652) to controlling parties.

9.	CONTROLLING PARTY

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

50% of the share capital.