Abbreviated Company Accounts - E. S. WALTON & CO LIMITED

Abbreviated Company Accounts - E. S. WALTON & CO LIMITED


Registered Number 01287566

E. S. WALTON & CO LIMITED

Abbreviated Accounts

30 November 2014

E. S. WALTON & CO LIMITED Registered Number 01287566

Abbreviated Balance Sheet as at 30 November 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 3,176 10,400
3,176 10,400
Current assets
Debtors 83,922 60,873
Cash at bank and in hand 20,160 27,530
104,082 88,403
Creditors: amounts falling due within one year (44,412) (46,465)
Net current assets (liabilities) 59,670 41,938
Total assets less current liabilities 62,846 52,338
Creditors: amounts falling due after more than one year 0 (5,035)
Provisions for liabilities (1,208) (1,342)
Total net assets (liabilities) 61,638 45,961
Capital and reserves
Called up share capital 3 1,000 1,000
Profit and loss account 60,638 44,961
Shareholders' funds 61,638 45,961
  • For the year ending 30 November 2014 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 25 August 2015

And signed on their behalf by:
Howard Northover, Director

E. S. WALTON & CO LIMITED Registered Number 01287566

Notes to the Abbreviated Accounts for the period ended 30 November 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
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
Office equipment - 20% straight line basis
Computer equipment - 33% straight line basis
Office equipment - Over the lease period

Other accounting policies
Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

Pensions
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2Tangible fixed assets
£
Cost
At 1 December 2013 76,035
Additions 2,554
Disposals -
Revaluations -
Transfers -
At 30 November 2014 78,589
Depreciation
At 1 December 2013 65,635
Charge for the year 9,778
On disposals -
At 30 November 2014 75,413
Net book values
At 30 November 2014 3,176
At 30 November 2013 10,400
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
1,000 Ordinary shares of £1 each 1,000 1,000