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REGISTERED NUMBER: 05091291 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018

FOR

WIL EL MIL ENGINEERING LIMITED

WIL EL MIL ENGINEERING LIMITED (REGISTERED NUMBER: 05091291)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WIL EL MIL ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2018







DIRECTORS: R J White
T J Lodge





SECRETARY: T J Lodge





REGISTERED OFFICE: Unit 7
Ashville Industrial Estate
Bristol Road
Gloucester
Gloucestershire
GL2 5EU





REGISTERED NUMBER: 05091291 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

WIL EL MIL ENGINEERING LIMITED (REGISTERED NUMBER: 05091291)

BALANCE SHEET
30 JUNE 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,379 19,305
17,379 19,305

CURRENT ASSETS
Stocks 591,576 220,681
Debtors 6 150,483 133,787
Cash at bank and in hand 38,774 153,066
780,833 507,534
CREDITORS
Amounts falling due within one year 7 245,110 119,932
NET CURRENT ASSETS 535,723 387,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

553,102

406,907

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 523,102 376,907
SHAREHOLDERS' FUNDS 553,102 406,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

WIL EL MIL ENGINEERING LIMITED (REGISTERED NUMBER: 05091291)

BALANCE SHEET - continued
30 JUNE 2018


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 Income and Retained Earnings has not been delivered.

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




T J Lodge - Director



R J White - Director


WIL EL MIL ENGINEERING LIMITED (REGISTERED NUMBER: 05091291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1. STATUTORY INFORMATION

Wil El Mil Engineering 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 the invoiced value of services provided during the year, stated net of Value Added
Tax. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
company and the revenue can be reliably measured.

Profit attributable to contract activity is recognised if the final outcome of such contracts can be reliably
assessed.

Revenue from services provided on a short-term or one-off basis is recognised when the service is
complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was being
amortised evenly over its estimated useful life of twenty years. It has now been fully amortised.

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.
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance and 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due
allowance for obsolete and slow moving items.

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.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in
FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective
interest method.


WIL EL MIL ENGINEERING LIMITED (REGISTERED NUMBER: 05091291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are
depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

Pension costs
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.

Going concern
There are no material uncertainties that may cast significant doubt about the company's ability to
continue as a going concern

Provisions for liabilities
Provisions are set up only where it is probable that a present obligation exists as a result of an event
prior to the balance sheet date and that a payment will be required in settlement that can be estimated
reliably. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2017 - 9 ) .

WIL EL MIL ENGINEERING LIMITED (REGISTERED NUMBER: 05091291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2017
and 30 June 2018 120,000
AMORTISATION
At 1 July 2017
and 30 June 2018 120,000
NET BOOK VALUE
At 30 June 2018 -
At 30 June 2017 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2017 277,742 53,730 331,472
Additions 12,252 - 12,252
At 30 June 2018 289,994 53,730 343,724
DEPRECIATION
At 1 July 2017 267,399 44,768 312,167
Charge for year 6,573 7,605 14,178
At 30 June 2018 273,972 52,373 326,345
NET BOOK VALUE
At 30 June 2018 16,022 1,357 17,379
At 30 June 2017 10,343 8,962 19,305


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 115,839 79,313
Provision for doubtful debts - (920 )
Amounts recoverable on contracts - 13,836
Other debtors - 11,462
Directors' loan accounts 3,997 -
VAT 3,208 1,303
Prepayments 27,439 28,793
150,483 133,787

WIL EL MIL ENGINEERING LIMITED (REGISTERED NUMBER: 05091291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdraft 30,646 -
Hire purchase contracts - 1,914
Trade creditors 140,329 97,579
Corporation Tax 24,193 -
PAYE/NI 6,191 6,701
Pension control 545 244
Directors' loan accounts - 668
Accrued expenses 43,206 12,826
245,110 119,932

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Hire purchase contracts - 1,914

Hire purchase contracts are secured on the assets concerned.

Joint and several guarantee in the sum of £80,000 from both directors.

During the year the company had charges registered with Barclays Bank PLC, that contains fixed
charges.

The company has debentures with Barclays Bank PLC which is secured against all money due or to
become due from the company, to the charges on any accounts whatsoever.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2018 and
30 June 2017:

2018 2017
£    £   
R J White
Balance outstanding at start of year (271 ) (1 )
Amounts advanced 1,681 3,685
Amounts repaid (87 ) (3,955 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,323 (271 )

T J Lodge
Balance outstanding at start of year (398 ) (61 )
Amounts advanced 3,071 3,710
Amounts repaid - (4,047 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,673 (398 )

WIL EL MIL ENGINEERING LIMITED (REGISTERED NUMBER: 05091291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

No interest is being charged on the loans to either R J White or T J Lodge and there are no set
repayment terms.