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 |
|
|
|
|||
Current assets | |||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
|
( |
|
Provisions for liabilities |
( |
( |
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 3 |
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
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
And signed on their behalf by:
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
Turnover policy
Tangible assets depreciation policy
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
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.
£ | |
---|---|
Cost | |
At 1 December 2013 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 November 2014 |
|
Depreciation | |
At 1 December 2013 |
|
Charge for the year |
|
On disposals |
|
At 30 November 2014 |
|
Net book values | |
At 30 November 2014 | 3,176 |
At 30 November 2013 | 10,400 |