back to PRICE WESTERN LEATHER COMPANY LIMITED detail xbrl
01243441falsemanufacturing leather and nylon goods for carrying secutiry equipment with the sale thereof, and associated products2016-01-012016-12-31http://www.companieshouse.gov.uk/2015-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2015-12-31http://www.companieshouse.gov.uk/cd:Director12016-01-012016-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2016-12-31http://www.companieshouse.gov.uk/cd:Director22016-01-012016-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12016-01-012016-12-31http://www.companieshouse.gov.uk/pt:PatentsTrademarksLicencesConcessionsSimilar2015-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2016-01-012016-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2016-01-012016-12-31http://www.companieshouse.gov.uk/2016-01-012016-12-31http://www.companieshouse.gov.uk/2015-12-31http://www.companieshouse.gov.uk/cd:FRS1022016-01-012016-12-31http://www.companieshouse.gov.uk/2016-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2016-01-012016-12-31http://www.companieshouse.gov.uk/pt:LandBuildings2015-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2016-01-012016-12-31http://www.companieshouse.gov.uk/pt:LandBuildings2016-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 01243441

PRICE WESTERN LEATHER CO LTD

ACCOUNTS
FOR THE YEAR ENDED 31/12/2016

Prepared By:
Ian Dalzell Ltd
Broughton Lodge Mews
Field Broughton
Grange-over-Sands
Cumbria
LA11 6HL

PRICE WESTERN LEATHER CO LTD

ACCOUNTS
FOR THE YEAR ENDED 31/12/2016
DIRECTORS
J J Littlewood
G A Littlewood
SECRETARY
Mr G A Littlewood
REGISTERED OFFICE
Ponsford Road
Minehead
Somerset
TA24 5DX
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 01243441
ACCOUNTANTS
Ian Dalzell Ltd
Broughton Lodge Mews
Field Broughton
Grange-over-Sands
Cumbria
LA11 6HL

PRICE WESTERN LEATHER CO LTD

ACCOUNTS
FOR THEYEARENDED31/12/2016
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

PRICE WESTERN LEATHER CO LTD

BALANCE SHEET AT 31/12/2016
20162015
Notes££
FIXED ASSETS
Intangible assets22,3513,172
Tangible assets3228,494143,175
Investment Assets41,0701,070
231,915147,417
CURRENT ASSETS
Stock205,631175,564
Debtors6455,313473,951
Cash at bank and in hand32,18246,411
693,126695,926
CREDITORS: Amounts falling due within one year7242,928200,863
NET CURRENT ASSETS450,198495,063
TOTAL ASSETS LESS CURRENT LIABILITIES682,113642,480
CREDITORS: Amounts falling due after more than one year855,67613,234
PROVISIONS FOR LIABILITIES AND CHARGES1044,51326,778
NET ASSETS581,924602,468
CAPITAL AND RESERVES
Called up share capital11100100
Profit and loss account581,824602,368
SHAREHOLDERS' FUNDS581,924602,468
For the year ending 31/12/2016 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 07/06/2017 and signed on their behalf by
.............................
J J Littlewood
Director

PRICE WESTERN LEATHER CO LTD

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2016
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land And Buildingsreducing balance 15%
Plant and Machineryreducing balance 15 to 50%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The cost of contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1e. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are not made for temporary fluctuations in value but where a value is deemed to be materially lower, then a provison is made.
1f. Leases
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

PRICE WESTERN LEATHER CO LTD

2. INTANGIBLE FIXED ASSETS
PatentsTotal
££
Cost
At 01/01/201610,76110,761
At 31/12/201610,76110,761
Depreciation
At 01/01/20167,5897,589
For the year821821
At 31/12/20168,4108,410
Net Book Amounts
At 31/12/20162,3512,351
At 31/12/20153,1723,172
3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachineryTotal
£££
Cost
At 01/01/201633,285622,482655,767
Additions12,939114,457127,396
Disposals-(5,308)(5,308)
At 31/12/201646,224731,631777,855
Depreciation
At 01/01/201625,157487,435512,592
Disposals-(5,308)(5,308)
For the year2,55139,52642,077
At 31/12/201627,708521,653549,361
Net Book Amounts
At 31/12/201618,516209,978228,494
At 31/12/20158,128135,047143,175
4. INVESTMENT FIXED ASSETS
Shares in group companies Other
and participating interestsInvestmentsTotal
£££
Cost
At 01/01/20165401,0701,610
At 31/12/20165401,0701,610
Amortisation
At 01/01/2016540-540
At 31/12/2016540-540
Net Book Amounts
At 31/12/2016-1,0701,070
At 31/12/2015-1,0701,070
Other Investment Assets comprise Deactivated Weapons.

PRICE WESTERN LEATHER CO LTD

5. STOCK 20162015
££
Stock comprises:
Stock raw materials157,779125,628
Work in progress12,57610,291
Stock of finished goods35,27639,645
205,631175,564
6. DEBTORS 20162015
££
Amounts falling due within one year
Trade debtors129,768112,818
UK corporation tax12,626-
Other debtors29158
Amounts due from group companies295,471338,677
Prepayments17,41922,298
455,313473,951
Amount owing from Group Company due after one year £295,471(2015: £338,677)
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20162015
££
UK corporation tax-16,930
VAT20,42311,795
PAYE control5,7326,880
Bank loans and overdrafts2,859913
Hire purchase15,7946,169
Payments received on account40,60151,166
Trade creditors121,16673,872
Pension schemes247388
Accruals36,10632,750
242,928200,863
Included in Other Creditors is £15,794 (2015: £6,169) is repayable by instalments
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20162015
££
Hire purchase >1yr40,10213,234
Deferred income>1yr15,574-
55,67613,234
£40,102 (2015: £13,234) is repayable by instalments within 5 years
9. EMPLOYEES
20162015
No.No.
Average number of employees2221

PRICE WESTERN LEATHER CO LTD

10. PROVISIONS FOR LIABILITIES 20162015
££
Deferred taxation44,51326,778
44,51326,778
11. SHARE CAPITAL 20162015
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
12. CONTROLLING PARTY
The company is a wholly owned subsidiary of JJL Holding Company Ltd, a company registered in England.