REGISTERED NUMBER: 04394749 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

A & A WALTERS LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

M E Walters

Mrs C D Walters

Mrs R E Hodges

J P Hodges

SECRETARY:

Mrs C D Walters

REGISTERED OFFICE:

The Old Manse

85 Dudley Road

Tipton

West Midlands

DY4 8ED

REGISTERED NUMBER:

04394749 (England and Wales)

ACCOUNTANTS:

French Ludlam & Co Limited

Mountfield House

661 High Street

Kingswinford

West Midlands

DY6 8AL

BANKERS:

Lloyds TSB plc

Wolverhampton Street Dudley Branch

25 Wolverhampton Street

Dudley

West Midlands

DY1 1DJ

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and

certain other primary statements and the Report of the Directors are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of A & A Walters Limited for the year ended 31st March 2018 which comprise the Statement of

Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of A & A Walters Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A & A Walters Limited and state those matters that we have agreed to state to the Board of Directors of A & A Walters Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A & A Walters Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A & A Walters Limited. You consider that A & A Walters Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A & A Walters Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

French Ludlam & Co Limited

Mountfield House

661 High Street

Kingswinford

West Midlands

DY6 8AL

29th November 2018

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

848,734

609,320

848,734

609,320

CURRENT ASSETS

Stocks

26,031

18,530

Debtors

6

65,869

82,489

Cash at bank and in hand

1,970,507

1,554,375

2,062,407

1,655,394

CREDITORS

Amounts falling due within one year

7

480,457

383,645

NET CURRENT ASSETS

1,581,950

1,271,749

TOTAL ASSETS LESS CURRENT LIABILITIES

2,430,684

1,881,069

CREDITORS

Amounts falling due after more than one year

8

(108,750

)

-

PROVISIONS FOR LIABILITIES

(60,249

)

(23,568

)

NET ASSETS

2,261,685

1,857,501

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

2,261,485

1,857,301

SHAREHOLDERS' FUNDS

2,261,685

1,857,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 29th November 2018 and were signed on its behalf by:

M E Walters - Director

1.	STATUTORY INFORMATION

A & A Walters 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been fully written

down.

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

Freehold property

-

2% on cost

Improvements to property

-

over the period of the lease

Plant and equipment

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

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.

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 24 (2017 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2017

and 31st March 2018

230,000

AMORTISATION

At 1st April 2017

and 31st March 2018

230,000

NET BOOK VALUE

At 31st March 2018

-

At 31st March 2017

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

equipment

£

£

£

COST

At 1st April 2017

379,372

196,716

53,775

Additions

11,700

-

6,628

Disposals

(201,700

)

-

-

At 31st March 2018

189,372

196,716

60,403

DEPRECIATION

At 1st April 2017

2,088

143,129

32,231

Charge for year

2,087

10,718

5,634

Eliminated on disposal

-

-

-

At 31st March 2018

4,175

153,847

37,865

NET BOOK VALUE

At 31st March 2018

185,197

42,869

22,538

At 31st March 2017

377,284

53,587

21,544

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st April 2017

73,834

595,809

1,299,506

Additions

63,298

661,695

743,321

Disposals

-

(418,595

)

(620,295

)

At 31st March 2018

137,132

838,909

1,422,532

DEPRECIATION

At 1st April 2017

43,883

468,855

690,186

Charge for year

18,650

174,514

211,603

Eliminated on disposal

-

(327,991

)

(327,991

)

At 31st March 2018

62,533

315,378

573,798

NET BOOK VALUE

At 31st March 2018

74,599

523,531

848,734

At 31st March 2017

29,951

126,954

609,320

Included in cost of land and buildings is freehold land of £ 85,000 (2017 - £ 205,000 ) which is not depreciated.

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

Motor

vehicles

£

COST

Additions

266,845

At 31st March 2018

266,845

DEPRECIATION

Charge for year

66,712

At 31st March 2018

66,712

NET BOOK VALUE

At 31st March 2018

200,133

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

61,397

46,807

Other debtors

4,472

35,682

65,869

82,489

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts (see note 9)

45,000

-

Trade creditors

28,613

21,752

Taxation and social security

105,533

149,578

Other creditors

301,311

212,315

480,457

383,645

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts (see note 9)

108,750

-

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2018

2017

£

£

Net obligations repayable:

Within one year

45,000

-

Between one and five years

108,750

-

153,750

-

Non-cancellable

operating leases

2018

2017

£

£

Within one year

9,871

5,178

Between one and five years

271

1,450

10,142

6,628

10.	CAPITAL COMMITMENTS

2018

2017

£

£

Contracted but not provided for in the

financial statements

-

663,545