WTC_CONSTRUCTION_LIMITED - Accounts

WTC_CONSTRUCTION_LIMITED - Accounts

WTC CONSTRUCTION LIMITED - Company Information

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Company Registration No. 05890243 (England and Wales)
WTC CONSTRUCTION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2014
WTC CONSTRUCTION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
WTC CONSTRUCTION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2014
31 July 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
12,000
18,000
Tangible assets
2
324
48
12,324
18,048
Current assets
Stocks
28,500
24,000
Debtors
-
(1)
28,500
23,999
Creditors: amounts falling due within one year
(49,216)
(49,982)
Net current liabilities
(20,716)
(25,983)
Total assets less current liabilities
(8,392)
(7,935)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(8,492)
(8,035)
Shareholders' funds
(8,392)
(7,935)
For the financial year ended 31 July 2014 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 28 April 2015
Mr Warren  Card
Director
Company Registration No. 05890243
WTC CONSTRUCTION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.

The major creditor of the company is the director who has confirmed his continued support to ensure the company can continue to trade for the foreseeable future. The director has therefore deemed it appropriate that the financial statements should be prepared on a going concern basis.

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
Fixtures, fittings & equipment
25% on cost
Motor vehicles
25% on cost
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
WTC CONSTRUCTION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2014
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 August 2013
60,000
21,395
81,395
Additions
-
432
432
At 31 July 2014
60,000
21,827
81,827
Depreciation
At 1 August 2013
42,000
21,347
63,347
Charge for the year
6,000
156
6,156
At 31 July 2014
48,000
21,503
69,503
Net book value
At 31 July 2014
12,000
324
12,324
At 31 July 2013
18,000
48
18,048
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
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