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Wallington PFC Limited
 
 
Company Registration Number
09780041
 
 
Report of the Directors and
Abridged Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/08/2017
 
End date 31/07/2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
Wallington PFC Limited
 
Contents of the Financial Statements
for the Period Ended 31 July 2018
 
 
Page
Company Information 3
 
Report of the Accountants 4
 
Abridged Balance Sheet 5 - 6
 
Notes to the Financial Statements 7 - 10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
Wallington PFC Limited
 
Company Information
for the Period Ended 31 July 2018
 
Directors Mehmet Ugur Keso
 
 
Registered office C/O Gench & Company
3 Jarvis Close
Barking, Essex
IG11 7PZ
 
Company Registration Number 09780041
 
Accountants Name Gench & Company
Address 3 Jarvis Close
Barking
Essex
IG11 7PZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
Wallington PFC Limited
 
Accountants' Report
for the Period Ended 31 July 2018
 
Independent accountants' report
 
Report to the directors on the preparation of the unaudited statutory accounts of the company for theperiod ended 31 July 2018. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of the company for the period ended 31 July 2018 as set out on pages 3 to 10 which comprise of the Balance Sheet and the related notes from the companys accounting records and from information and explanations you have given us. This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the
accounts of the company and state those matters that we have agreed to state to the Board of Directors
of the company, as a body, in this report. 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 the company has kept adequate accounting records and to prepare statutory
accounts that give a true and fair view of the assets, liabilities, financial position and profit/(loss) of
the company. You consider the company is exempt from the statutory audit requirement for the
period.
We have not been instructed to carry out an audit of the financial statements. 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 financial
statements.
 
 
 
 
 
 
 
Gench & Company
3 Jarvis Close
Barking
Essex
IG11 7PZ
 
Date 2018-11-12
Page 4
Wallington PFC Limited
Balance Sheet
for the Period Ended 31 July 2018
Company registration number 09780041
2018 2017
Notes £ £
Fixed assets
Tangible fixed assets 2 126,193 135,017
_______ _______
Total fixed assets 126,193 135,017
Current assets
Stocks 3 102,482 106,746
Debtors 4 1,058 1,668
Cash at bank and in hand 11,584 8,537
_______ _______
Total current assets/(liabilities) 115,124 116,951
Creditors
Creditors - amounts falling
due within one year 5 236,464 251,298
_______ _______
Net current assets (121,340) (134,347)
_______ _______
Total assets less current liabilities 4,853 670
_______ _______
Net assets/(liabilities) 4,853 670
Capital and reserves
Called up share capital 6 100 100
Profit and loss account 7 4,753 570
____ ___
Total shareholders funds 4,853 670
 
 
 
 
 
 
 
 
 
 
 
 
Page 5
Wallington PFC Limited
 
Balance Sheet
for the Period Ended 31 July 2018
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The option not to file the profit and loss account has been taken.
 
For the year ending 31 July 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The members have agreed to the preparation of abridged accounts.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2018-11-12
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name Mehmet Ugur Keso
Status Director
 
The notes form part of these financial statements
 
 
 
 
 
 
 
Page 6
Wallington PFC Limited
Notes to the Financial Statements
for the Period Ended 31 July 2018
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Going Concern
The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors,which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis.
Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings 0
Motor vehicles 0
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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 7
Wallington PFC Limited
Notes to the Financial Statements
for the Period Ended 31 July 2018
2. Tangible fixed assets
Land and Fixtures Motor Total
buildings and fittings vehicles
Cost £ £ £ £
At 1 August 2017 65,440 82,127 16,000 163,567
Additions 2,500 2,500
_____ _____ _____ ______
At 31 July 2018 65,440 84,627 16,000 166,067
Depreciation
At 1 August 2017 14,879 13,671 28,550
Charge for year 9,276 2,048 11,324
_____ _____ _____
At 31 July 2018 24,155 15,719 39,874
Net book value
At 31 July 2018 65,440 60,472 281 126,193
At 31 July 2017 65,440 67,248 2,329 135,017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 8
Wallington PFC Limited
Notes to the Financial Statements
for the Period Ended 31 July 2018
3. Stocks 2018 2017
Finished goods 102,482 106,746
Total 102,482 106,746
4. Debtors 2018 2017
Prepayments and accrued income 1,058 1,668
____ ____
Total 1,058 1,668
5. Creditors amounts falling due within one year 2018 2017
Corporation tax 29,560 24,120
Other taxation and social security 2,819 2,428
Accruals and deferred income 4,085 750
Other creditors 200,000 224,000
______ ______
Total 236,464 251,298
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9
Wallington PFC Limited
Notes to the Financial Statements
for the Period Ended 31 July 2018
6. Share capital 2018 2017
Authorised type Par value £ £
Ordinary shares 1 100 100
___ ___
Total 100 100
Allotted, called up and paid £ £
Ordinary shares 100 100
___ ___
Total 100 100
7. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 August 2017 570
Profit/(Loss) for year 64,183
Dividends paid 60,000
____
Retained Profit/(Loss) at 31 July 2018 4,753
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 10