J & R Wain Builders Limited - Period Ending 2015-01-31

Registration number: 06464341

J & R Wain Builders Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2015
 

J & R Wain Builders Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

J & R Wain Builders Limited
(Registration number: 06464341)
Abbreviated Balance Sheet at 31 January 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets		2			6,000			8,000
Tangible fixed assets		2			1,906			2,542
					7,906			10,542
Current assets
Stocks					147,168			500
Debtors					36,740			73,260
Cash at bank and in hand					128,199			215,761
					312,107			289,521
Creditors: Amounts falling due within one year					(220,199)			(225,929)
Net current assets					91,908			63,592
Total assets less current liabilities					99,814			74,134
Capital and reserves
Called up share capital		3			10			10
Profit and loss account					99,804			74,124
Shareholders' funds					99,814			74,134

For the year ending 31 January 2015 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 June 2015 and signed on its behalf by:

.........................................
RGP Wain
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

J & R Wain Builders Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of building work

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Motor vehicles	25% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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J & R Wain Builders Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 February 2014		20,000			6,650			26,650
At 31 January 2015		20,000			6,650			26,650
Depreciation
At 1 February 2014		12,000			4,108			16,108
Charge for the year		2,000			636			2,636
At 31 January 2015		14,000			4,744			18,744
Net book value
At 31 January 2015		6,000			1,906			7,906
At 31 January 2014		8,000			2,542			10,542

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		10			10			10			10

4

Control

The company is controlled by the directors and their immediate family who own 100% of the called up share capital.

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