Wergs Investments Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00885617 (England and Wales)

Abbreviated Accounts for the Year Ended 31 December 2014

for

Wergs Investments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M C Moseley

SECRETARY:

F Moseley

REGISTERED OFFICE:

Wergs Golf Club

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

REGISTERED NUMBER:

00885617 (England and Wales)

ACCOUNTANTS:

Haines Watts

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

FIXED ASSETS

Tangible assets

2

1,491,765

1,185,437

Investments

3

426,715

626,252

Investment property

4

154,598

154,598

2,073,078

1,966,287

CURRENT ASSETS

Stocks

126,722

297,952

Debtors

74,534

74,849

Cash at bank and in hand

86,320

130,124

287,576

502,925

CREDITORS

Amounts falling due within one year

187,434

133,530

NET CURRENT ASSETS

100,142

369,395

TOTAL ASSETS LESS CURRENT LIABILITIES

2,173,220

2,335,682

CREDITORS

Amounts falling due after more than one year

100,000

-

NET ASSETS

2,073,220

2,335,682

CAPITAL AND RESERVES

Called up share capital

5

65

65

Capital reserve

35

35

Profit and loss account

2,073,120

2,335,582

SHAREHOLDERS' FUNDS

2,073,220

2,335,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28 April 2015 and were signed by:

M C Moseley - 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 is the amount receivable for the provision of goods

and services falling within the Company's activities, net of Value Added Tax, rebates and trade

discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the

Company obtains the right to consideration in exchange for its performance and when the amounts to

be recognised are fixed or determinable and collectability is reasonably assured.

Tangible fixed assets

All tangible fixed assets are initially recorded at cost.

Fixed asset investments

All fixed asset investments are initially recorded at cost. Where a diminution in value is considered to

be long-term, a provision is included to write down the cost of investment.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over

the useful economic life of that asset as follows:

Freehold Property

- 2% straight line

Plant & Machinery

- 10% straight line

Fixtures & Fittings

- 10% straight line

Motor Vehicles

- 20% straight line

Equipment

- 10% straight line

Investment property

Investment property is shown at most recent director's valuation. In the opinion of the directors, the

current value is not materially different from the original purchase price.

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 where transactions or events have occurred at that date that will result in an

obligation to pay more, or a right to pay less or to receive more tax.

Hire purchase and leasing commitments

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

over the period of the lease.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership

remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as the financial assets, financial liabilities or equity instruments. An equity instrument is

any contract that evidences a residual interest in the asset of the company after deducting all of its

liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

1,865,707

Additions

392,784

At 31 December 2014

2,258,491

DEPRECIATION

At 1 January 2014

680,270

Charge for year

86,456

At 31 December 2014

766,726

NET BOOK VALUE

At 31 December 2014

1,491,765

At 31 December 2013

1,185,437

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2014

670,274

Additions

25,016

Disposals

(224,553

)

At 31 December 2014

470,737

PROVISIONS

At 1 January 2014

and 31 December 2014

44,022

NET BOOK VALUE

At 31 December 2014

426,715

At 31 December 2013

626,252

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2014

and 31 December 2014

154,598

NET BOOK VALUE

At 31 December 2014

154,598

At 31 December 2013

154,598

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

65

Ordinary

£1

65

65

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the amounts outstanding on the directors loans were as follows:-

2014

2013

£

£

M C Moseley

-

-

The maximum amount overdrawn on the loan account during 2014 was £nil (2013 - £15,298).

Rent paid to director during year:-

2014

2013

£

£

M C Moseley

5,000

5,000