REGISTERED NUMBER: 04220593 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Tracy Ward Textiles Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

T P F Ward

SECRETARY:

F J Ward

REGISTERED OFFICE:

19 Warren Park Way

Enderby

Leicester

LE19 4SA

REGISTERED NUMBER:

04220593 (England and Wales)

ACCOUNTANTS:

Carter & Co

19 Warren Park Way

Enderby

Leicester

LE19 4SA

FIXED ASSETS

Tangible assets

4

1,622

2,164

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

5

-

96

Cash at bank

262,450

260,857

267,450

265,953

CREDITORS

Amounts falling due within one year

6

40,271

49,507

NET CURRENT ASSETS

227,179

216,446

TOTAL ASSETS LESS CURRENT LIABILITIES

228,801

218,610

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

228,800

218,609

SHAREHOLDERS' FUNDS

228,801

218,610

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 director acknowledges his 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 director on 13 August 2018 and were signed by:

T P F Ward - Director

1.	STATUTORY INFORMATION

Tracy Ward Textiles 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 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.

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2017

and 31 May 2018

6,293

DEPRECIATION

At 1 June 2017

4,129

Charge for year

542

At 31 May 2018

4,671

NET BOOK VALUE

At 31 May 2018

1,622

At 31 May 2017

2,164

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Other debtors

-

96

Other debtors represents a VAT refund due of £nil (2017 - £13) and PAYE due of £nil (2017 - £83).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Taxation and social security

17,202

24,500

Other creditors

23,069

25,007

40,271

49,507

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

10

Ordinary

10p

1

1

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,000 (2017 - £34,000) were paid to the director .