Welland Engineering Company Limited - Limited company - abbreviated - 11.6
Welland Engineering Company Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| WELLAND ENGINEERING COMPANY LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| WELLAND ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00479009) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 | to | 4 |
| Chartered Accountants' Report | 5 |
| WELLAND ENGINEERING COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| WELLAND ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00479009) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 4 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| WELLAND ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00479009) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 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 |
| Turnover represents amounts invoiced for the rental of land and assets. |
| Revenue is recognised in the period in which the property is rented and services provided. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Work in progress is valued lower of cost and net realisable value. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet |
| date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
| Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Consolidated accounts |
| Under the provision of section 399(1) of the Companies Act 2006 the company has claimed exemption from preparing |
| consolidated accounts on the grounds that the group is a small group. Therefore the accounts show information about the |
| company as an individual entity. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2014 |
| Additions |
| At 31 March 2015 |
| DEPRECIATION |
| At 1 April 2014 |
| Charge for year |
| At 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| WELLAND ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00479009) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 April 2014 |
| and 31 March 2015 | 2 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | 341,506 | 215,254 |
| Profit for the year | 195,631 | 93,532 |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | 948 | 81 |
| Profit/(loss) for the year | 867 | (81 | ) |
| 4. | CREDITORS |
| Creditors include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments | 53,285 | 194,621 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| A Ordinary | £1 |
| B Ordinary | £1 |
| C Ordinary | £1 |
| 1,152 | 1,152 |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| WELLAND ENGINEERING COMPANY LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial |
| statements, from which the unaudited abbreviated accounts (set out on pages two to four) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
| statements of Welland Engineering Company Limited for the year ended 31 March 2015 which comprise the Profit and Loss |
| Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations |
| you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Welland Engineering Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Welland Engineering Company Limited and state those matters that we have agreed to state to the Board of Directors of Welland Engineering Company Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Welland Engineering Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Welland Engineering Company Limited. You consider that Welland Engineering Company Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Welland Engineering Company Limited. |
| For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you |
| have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 19 June 2015 |