A. & J. Webster Limited |
Registered number: |
00654438 |
Balance Sheet |
as at 31 January 2018 |
|
Notes |
|
|
2018 |
|
|
2017 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
513,755 |
|
|
513,755 |
|
Current assets |
Debtors |
3 |
|
1,360 |
|
|
1,360 |
Cash at bank and in hand |
|
|
1,471 |
|
|
1,520 |
|
|
|
2,831 |
|
|
2,880 |
|
Creditors: amounts falling due within one year |
4 |
|
(83,690) |
|
|
(59,816) |
|
Net current liabilities |
|
|
|
(80,859) |
|
|
(56,936) |
|
Total assets less current liabilities |
|
|
|
432,896 |
|
|
456,819 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(26,107) |
|
|
(46,107) |
|
|
|
Net assets |
|
|
|
406,789 |
|
|
410,712 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
12,500 |
|
|
12,500 |
Revaluation reserve |
6 |
|
|
412,655 |
|
|
412,655 |
Profit and loss account |
|
|
|
(18,366) |
|
|
(14,443) |
|
Shareholder's funds |
|
|
|
406,789 |
|
|
410,712 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr J G Webster |
Director |
Approved by the board on 2 October 2018 |
|
A. & J. Webster Limited |
Notes to the Accounts |
for the year ended 31 January 2018 |
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Investment properties |
|
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on the individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This is in accordance with SSAP19 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. This departure from the provisions of the Act is required in ordeer to show a true and fair view. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment properties |
£ |
|
Valuation |
|
At 1 February 2017 |
513,755 |
|
At 31 January 2018 |
513,755 |
|
|
|
|
|
|
|
|
|
|
Investment properties were valued on 31 March 1984. A further valuation took place on 30 September 1985 by Messrs. Borron Shaw & Co. Chartered Surveyors and their valuation at that date was £110,000. On 8 October 2003 Meller Braggins Chartered Surveyors valued the property at 32 Princess Street, Knutsford, at £200,000. The original cost of each property was £4,500 (Princess Street), £3,000 (Coronation Road) and £54,995 (Clover Field). The director, Mr J. G. Webster, revalued the properties in the year to 31 January 2006 based on the purchase prices of similar properties sold during the year. He considers the value of the properties to have remained the same for the current and previous periods. Mr J. G. Webster is not a qualified property valuer. No depreciation has been charged in line with SSAP19. |
|
|
In respect of investment properties stated at valuation, the comparable historical cost and depreciation values were as follows: |
|
|
|
|
|
|
2018 |
|
2017 |
£ |
£ |
|
Freehold land and buildings: |
|
Historical cost |
101,100 |
|
101,100 |
|
Cumulative depreciation based on historical cost |
nil |
nil |
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2018 |
|
2017 |
£ |
£ |
|
Other debtors |
1,360 |
|
1,360 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
£ |
£ |
|
Taxation and social security costs |
542 |
|
531 |
|
Other creditors |
83,148 |
|
59,285 |
|
|
|
|
|
|
83,690 |
|
59,816 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
£ |
£ |
|
Bank loans |
26,107 |
|
46,107 |
|
|
|
|
|
|
|
|
|
|
6 |
Revaluation reserve |
2018 |
|
2017 |
£ |
£ |
|
At 1 February 2017 |
412,655 |
|
412,655 |
|
|
At 31 January 2018 |
412,655 |
|
412,655 |
|
|
|
|
|
|
|
|
|
|
7 |
Other information |
|
A. & J. Webster Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
173 College Road |
|
Crosby |
|
Merseyside |
|
L23 3AT |