REGISTERED NUMBER: 05426385 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

A & M Wingate Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M J Wingate

A J Wingate

SECRETARY:

Mrs M J Wingate

REGISTERED OFFICE:

32 Burgate

Barton Upon Humber

North Lincolnshire

DN18 5HA

REGISTERED NUMBER:

05426385 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,513

2,708

2,513

2,708

CURRENT ASSETS

Stocks

13,161

11,474

Debtors

6

12,991

12,190

Cash at bank and in hand

3,192

5,784

29,344

29,448

CREDITORS

Amounts falling due within one year

7

10,586

9,454

NET CURRENT ASSETS

18,758

19,994

TOTAL ASSETS LESS CURRENT LIABILITIES

21,271

22,702

CREDITORS

Amounts falling due after more than one year

8

42,542

49,235

NET LIABILITIES

(21,271

)

(26,533

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(21,273

)

(26,535

)

SHAREHOLDERS' FUNDS

(21,271

)

(26,533

)

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

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

The financial statements were approved by the Board of Directors on 8 December 2017 and were signed on its behalf by:

Mrs M J Wingate - Director

A J Wingate - Director

1.	STATUTORY INFORMATION

A & M Wingate 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.

This is the first year the company has adopted FRS102 Section 1A.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

10% on 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.

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.

Grants receivable

Grants received are to be amortised in line with the depreciation rate applied to the assets covered by the grant.

Going concern

The directors consider that the financial statements should be prepared on a going concern basis. Therefore, no

adjustments have been made to the financial statements for any loss in values should the company not continue

to trade as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

120,000

AMORTISATION

At 1 June 2016

and 31 May 2017

120,000

NET BOOK VALUE

At 31 May 2017

-

At 31 May 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

32,168

DEPRECIATION

At 1 June 2016

29,460

Charge for year

195

At 31 May 2017

29,655

NET BOOK VALUE

At 31 May 2017

2,513

At 31 May 2016

2,708

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,604

2,604

Directors' current accounts

10,387

9,586

12,991

12,190

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

5,441

5,441

Accruals and deferred income

4,218

3,393

Social security and other taxes

348

382

Trade creditors

579

238

10,586

9,454

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

5,441

5,441

Bank loans - 2-5 years

16,323

16,323

Bank loans more 5 yr by instal

20,778

27,471

42,542

49,235

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

20,778

27,471

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

47,983

54,676

The bank loan is secured on the directors personal property.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2017 and

31 May 2016:

2017

2016

£

£

Mrs M J Wingate

Balance outstanding at start of year

9,586

9,939

Amounts advanced

801

-

Amounts repaid

-

353

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,387

9,586

The above advance had no fixed repayment date and was unsecured. Interest was charged at 3%.

11.	ULTIMATE CONTROLLING PARTY

12.	FIRST YEAR ADOPTION

There were no material adjustments required upon transition to FRS102 Section 1A.