B W Electronics Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07243485 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

B W Electronics Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr R F Weaver

Mrs L N Weaver

REGISTERED OFFICE:

Unit 34 Knightsbridge Business Centre

Knightsbridge Green

Cheltenham

Gloucestershire

GL51 9TA

REGISTERED NUMBER:

07243485 (England and Wales)

FIXED ASSETS

Intangible assets

2

30,000

35,000

Tangible assets

3

32,540

122,811

62,540

157,811

CURRENT ASSETS

Stocks

13,070

18,651

Debtors

59,473

23,603

Cash in hand

40

72

72,583

42,326

CREDITORS

Amounts falling due within one year

4

116,740

110,074

NET CURRENT LIABILITIES

(44,157

)

(67,748

)

TOTAL ASSETS LESS CURRENT LIABILITIES

18,383

90,063

CREDITORS

Amounts falling due after more than one year

4

(26,434

)

(69,108

)

PROVISIONS FOR LIABILITIES

(6,134

)

(12,215

)

NET (LIABILITIES)/ASSETS

(14,185

)

8,740

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

(14,285

)

8,640

SHAREHOLDERS' FUNDS

(14,185

)

8,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12 March 2015 and were signed on its behalf by:

Mr R F Weaver - Director

Mrs L N Weaver - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts

for on-going services is recognised by reference to the stage of completion.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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 reducing balance

Fixtures and fittings

-

33% on cost

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.

Deferred tax

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

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding the company's deficiency

of net assets; on the grounds that the director has confirmed that necessary funds will be made available for the

company to meet its liabilities as they fall due.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

50,000

AMORTISATION

At 1 July 2013

15,000

Amortisation for year

5,000

At 30 June 2014

20,000

NET BOOK VALUE

At 30 June 2014

30,000

At 30 June 2013

35,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

211,814

Additions

19,370

Disposals

(171,990

)

At 30 June 2014

59,194

DEPRECIATION

At 1 July 2013

89,003

Charge for year

7,058

Eliminated on disposal

(69,407

)

At 30 June 2014

26,654

NET BOOK VALUE

At 30 June 2014

32,540

At 30 June 2013

122,811

4.

CREDITORS

Creditors include an amount of £ 60,668 (2013 - £ 44,904 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2014 and

30 June 2013:

2014

2013

£

£

Mr R F Weaver and Mrs L N Weaver

Balance outstanding at start of year

(15

)

(623

)

Amounts advanced

34,164

41,108

Amounts repaid

(18,448

)

(40,500

)

Balance outstanding at end of year

15,701

(15

)