Watercoolers Direct.Com Limited - Period Ending 2015-03-31

Registration number: 05072220

Watercoolers Direct.Com Limited

trading as Watercoolers Direct.com Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Watercoolers Direct.Com Limited
trading as Watercoolers Direct.com Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Watercoolers Direct.Com Limited
trading as Watercoolers Direct.com Ltd
(Registration number: 05072220)
Abbreviated Balance Sheet at 31 March 2015
 

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					120,523			127,309
Investments					1			1
					120,524			127,310
Current assets
Stocks					277,059			331,905
Debtors		3			1,003,401			927,104
Cash at bank and in hand					260,920			178,906
					1,541,380			1,437,915
Creditors: Amounts falling due within one year					(1,193,019)			(1,204,851)
Net current assets					348,361			233,064
Total assets less current liabilities					468,885			360,374
Provisions for liabilities					(17,293)			(18,159)
Net assets					451,592			342,215
Capital and reserves
Called up share capital		4			2,500			2,500
Share premium account					4,500			4,500
Profit and loss account					444,592			335,215
Shareholders' funds					451,592			342,215

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Watercoolers Direct.Com Limited
trading as Watercoolers Direct.com Ltd
(Registration number: 05072220)
Abbreviated Balance Sheet at 31 March 2015
 

For the year ending 31 March 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 9 November 2015 and signed on its behalf by:

.........................................
F K Cairns Palmer
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Watercoolers Direct.Com Limited
trading as Watercoolers Direct.com Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
 

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 comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the assets, less their estimated residual value over their expected useful lives on the following basis:

Asset class	Depreciation method and rate
L/Term Leashold Property	5% straight line
Plant & machinery	33% reducing balance
Fixtures & Fittings	15% reducing balance
Office equipment	33% reducing balance

Fixed asset investments

Investments held as fixed assets are shown at cost less provision for impairment.

Stock

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation. A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

Page 3

Watercoolers Direct.Com Limited
trading as Watercoolers Direct.com Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
 

Foreign currency

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Profit and loss account.

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 obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2014		225,830			1			225,831
Additions		35,262			-			35,262
Disposals		(10,754)			-			(10,754)
At 31 March 2015		250,338			1			250,339
Depreciation
At 1 April 2014		98,521			-			98,521
Charge for the year		39,881			-			39,881
Eliminated on disposals		(8,587)			-			(8,587)
At 31 March 2015		129,815			-			129,815
Net book value
At 31 March 2015		120,523			1			120,524
At 31 March 2014		127,309			1			127,310

Page 4

Watercoolers Direct.Com Limited
trading as Watercoolers Direct.com Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
 

3

Debtors

Debtors includes £106,042 (2014 - £198,042) receivable after more than one year.

 

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2,500			2,500			2,500			2,500

5

Control

At 31 March 2015 and 31 March 2014 the parent undertaking was Water Coolers Direct.Com Holdings Limited. The controlling parties of Water Coolers Direct.Com Holdings Limited (Company Number:05961387) are disclosed in that company's financial statements.

Page 5