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Registration number: 07530315

West Country Label Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

West Country Label Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

West Country Label Ltd

Company Information

Directors

Mr C A Haggie

Mrs A J Haggie

Mr C G Haggie

Mr N G Haggie

Company secretary

Mrs A J Haggie

Registered office

3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
West Country Label Ltd
for the Year Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of West Country Label Ltd for the year ended 31 March 2022 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of West Country Label Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of West Country Label Ltd and state those matters that we have agreed to state to the Board of Directors of West Country Label Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West Country Label Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that West Country Label Ltd 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 of West Country Label Ltd. You consider that West Country Label Ltd 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 accounts of West Country Label Ltd. 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 accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

6 September 2022

 

West Country Label Ltd

(Registration number: 07530315)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

19,730

7,957

Current assets

 

Debtors

5

507,925

326,501

Cash at bank and in hand

 

319,005

95,337

 

826,930

421,838

Creditors: Amounts falling due within one year

6

(547,545)

(375,221)

Net current assets

 

279,385

46,617

Total assets less current liabilities

 

299,115

54,574

Provisions for liabilities

(3,748)

(1,511)

Net assets

 

295,367

53,063

Capital and reserves

 

Called up share capital

100

100

Retained earnings

295,267

52,963

Shareholders' funds

 

295,367

53,063

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

West Country Label Ltd

(Registration number: 07530315)
Balance Sheet as at 31 March 2022

Approved and authorised by the Board on 6 September 2022 and signed on its behalf by:
 

.........................................

Mr C A Haggie

Director

.........................................

Mr C G Haggie

Director

 

West Country Label Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

The principal place of business is:
3 The Courtyard
Liskeard
Cornwall
PL14 3NL

These financial statements were authorised for issue by the Board on 6 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

West Country Label Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2021 - 10).

 

West Country Label Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2021

14,823

19,760

34,583

Additions

7,076

8,096

15,172

At 31 March 2022

21,899

27,856

49,755

Depreciation

At 1 April 2021

12,861

13,495

26,356

Charge for the year

1,299

2,370

3,669

At 31 March 2022

14,160

15,865

30,025

Carrying amount

At 31 March 2022

7,739

11,991

19,730

At 31 March 2021

1,962

5,995

7,957

5

Debtors

Current

2022
£

2021
£

Trade debtors

452,534

287,657

Prepayments

6,483

4,528

Other debtors

48,908

34,316

 

507,925

326,501

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

287,760

190,242

Taxation and social security

120,932

51,582

Accruals and deferred income

3,613

4,587

Other creditors

135,240

128,810

547,545

375,221