West London Composting Limited - Limited company - abbreviated - 11.0.0
West London Composting Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| FOR |
| WEST LONDON COMPOSTING LIMITED |
| WEST LONDON COMPOSTING LIMITED (REGISTERED NUMBER: 04014874) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Report of the Accountants | 7 |
| WEST LONDON COMPOSTING LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| SOLICITORS: |
| WEST LONDON COMPOSTING LIMITED (REGISTERED NUMBER: 04014874) |
| ABBREVIATED BALANCE SHEET |
| 31 DECEMBER 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| WEST LONDON COMPOSTING LIMITED (REGISTERED NUMBER: 04014874) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 DECEMBER 2013 |
| The financial statements were approved by the director on |
| WEST LONDON COMPOSTING LIMITED (REGISTERED NUMBER: 04014874) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 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). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the |
| company qualifies as a small company. |
| Turnover |
| Turnover represents net invoice sales of compost and net amounts receivable for greenwaste |
| disposal, excluding value added tax. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates |
| calculated to write off the cost less estimated residual value of each asset over its expected |
| useful life, as follows: |
| Plant and machinery - 5-10% straight line basis |
| Fixtures, fittings and equipment - 33% straight line basis |
| Motor vehicles - 20% straight line basis |
| Depreciation is not provided on buildings as it is the company's practice to maintain the asset |
| in a continued state of sound repair. Accordingly, the director considers the life of this asset is |
| such that any depreciation charge would be insignificant. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| 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. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight |
| line basis over the period of the lease. |
| Development grants |
| The development grants towards capital expenditure are released to the profit and loss |
| account over the expected useful life of the relevant fixed assets. The company did not receive |
| any additional development grants in the year ended 31 December 2012. |
| WEST LONDON COMPOSTING LIMITED (REGISTERED NUMBER: 04014874) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| given. |
| They also include the following debts falling due in more than five years: |
| 2013 | 2012 |
| £ | £ |
| Repayable by instalments | 1,563,605 | 1,896,565 |
| The amount of secured creditors due within one year is £556,299 (2008: £651,584) and after |
| one year is £4,130,584 (2008: £4,468,870) |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| Ordinary shares | 1 |
| 5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended |
| 31 December 2013 and 31 December 2012: |
| 2013 | 2012 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| WEST LONDON COMPOSTING LIMITED (REGISTERED NUMBER: 04014874) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
| The loans to the Director are for withdrawals and private transactions throughout the year |
| which were not subsequently repaid back to the Company at year end. The directors current |
| account balance at the end of the year was £10,901 owed to the director (2012: owed to the |
| director £5,586). The movement in the directors loan account is made up of advances of |
| £74,685 and repayments of £80,000. The Company has no liability under any transaction |
| connected with the Director's loan and the loan from the Director is interest free. |
| West London Composting Limited leases land owned by the director (Mr M Grundon), who has |
| waived the right to receive rent. |
| WEST LONDON COMPOSTING LIMITED |
| REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF |
| WEST LONDON COMPOSTING LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the |
| company's annual unaudited financial statements, from which the unaudited abbreviated |
| accounts (set out on pages two to six) have been prepared. |
| As described on the balance sheet you are responsible for the preparation of the financial statements |
| for the year ended 31 December 2013 set out on pages nil to nil and you consider that the company |
| is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in |
| order to assist you to fulfil your statutory responsibilities, from the accounting records and |
| information and explanations supplied to us. |
| Date: ............................................. |