Worcester Tile Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06133496 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 31 December 2017

for

Worcester Tile Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P J Haley

Mr M P Bell

REGISTERED OFFICE:

Unit 2 Checketts Lane Industrial Estate

Checketts Lane

Worcester

Worcestershire

WR3 7JW

REGISTERED NUMBER:

06133496 (England and Wales)

ACCOUNTANTS:

Haley's Accountancy Ltd

Suite 2 Checketts Lane Trading Estate

Checketts Lane

Claines

Worcester

WR3 7JW

BANKERS:

National Westminster Bank

1 The Cross

Worcester

WR1 3PR

FIXED ASSETS

Tangible assets

4

15,927

21,021

CURRENT ASSETS

Stocks

62,422

61,245

Debtors

31,927

39,876

Cash at bank and in hand

29,365

21,706

123,714

122,827

CREDITORS

Amounts falling due within one year

95,365

92,248

NET CURRENT ASSETS

28,349

30,579

TOTAL ASSETS LESS CURRENT

LIABILITIES

44,276

51,600

CREDITORS

Amounts falling due after more than

one year

4,318

6,237

NET ASSETS

39,958

45,363

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

39,956

45,361

SHAREHOLDERS' FUNDS

39,958

45,363

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 September 2018 and were

signed on its behalf by:

Mr P J Haley - Director

1.	STATUTORY INFORMATION

Worcester Tile 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

42,000

Additions

217

At 31 December 2017

42,217

DEPRECIATION

At 1 January 2017

20,979

Charge for year

5,311

At 31 December 2017

26,290

NET BOOK VALUE

At 31 December 2017

15,927

At 31 December 2016

21,021

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

follows:

Totals

£

COST

At 1 January 2017

and 31 December 2017

10,495

DEPRECIATION

At 1 January 2017

2,624

Charge for year

1,968

At 31 December 2017

4,592

NET BOOK VALUE

At 31 December 2017

5,903

At 31 December 2016

7,871

5.	RELATED PARTY DISCLOSURES

During the year the company paid for consultancy and accountancy services totalling

£31,340 (2016 - £45,315) to a company in which Mr P Haley has a controlling interest. All

transactions were conducted on an arms length basis. At the year end amounts owed by this

company totalled £12,500 (2016 - £0).

Worcester Tile Limited - Accounts to registrar (filleted) - small 18.2

Worcester Tile Limited - Accounts to registrar (filleted) - small 18.2