WICKHAM_GENSOL_LIMITED - Accounts
WICKHAM_GENSOL_LIMITED - Accounts
Company Registration No. 07049143 (England and Wales)
FOR THE YEAR ENDED 28 FEBRUARY 2015
COMPANY INFORMATION
Directors
Company number
Registered office
Auditors
Business address
Unit 5 Commerce Park
19 Commerce Way
Croydon
Surrey
CR0 4YL
CONTENTS
Page
Directors' report
1
Independent auditors' report
2 - 3
Profit and loss account
4
Balance sheet
5
Notes to the financial statements
6 - 9
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 1 -
The directors present their report and financial statements for the year ended 28 February 2015.
Principal activities
Directors
The following directors have held office since 1 March 2014:
Auditors
The auditors, Bryden Johnson, are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Director
INDEPENDENT AUDITORS' REPORT
TO THE MEMBERS OF WICKHAM GENSOL LIMITED
- 2 -
We have audited the financial statements of Wickham Gensol Limited for the year ended 28 February 2015 set out on pages 4 to 9. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditors
As explained more fully in the Directors' Responsibilities Statement set out on pages 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on financial statements
-
give a true and fair view of the state of the company's affairs as at 28 February 2015 and of its profit for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF WICKHAM GENSOL LIMITED
- 3 -
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of directors' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from preparing a strategic report.
for and on behalf of Bryden Johnson
Chartered Accountants
Statutory Auditor
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 4 -
2015
2014
Notes
£
£
Turnover
Cost of sales
(184,629 )
(218,438 )
Gross profit
Administrative expenses
(91,856 )
(94,711 )
Profit on ordinary activities before taxation
2
Tax on profit on ordinary activities
3
(3,084 )
(3,430 )
Profit for the year
10
BALANCE SHEET
AS AT
28 FEBRUARY 2015
- 5 -
2015
2014
Notes
£
£
£
£
Current assets
Debtors
5
Cash at bank and in hand
Creditors: amounts falling due within one year
6
(46,236 )
(71,806 )
Total assets less current liabilities
Capital and reserves
Called up share capital
9
Profit and loss account
10
Shareholders' funds
Approved by the Board for issue on 23 November 2015
Director
Company Registration No. 07049143
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 6 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Plant and machinery
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Operating profit
2015
2014
£
£
Operating profit is stated after charging:
Depreciation of tangible assets
-
Auditors' remuneration
3
Taxation
2015
2014
£
£
Domestic current year tax
U.K. corporation tax
Total current tax
Deferred tax
Origination and reversal of timing differences
-
(202)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 7 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2014 & at 28 February 2015
Depreciation
At 1 March 2014 & at 28 February 2015
Net book value
At 28 February 2015
-
At 28 February 2014
-
5
Debtors
2015
2014
£
£
Trade debtors
Other debtors
6
Creditors: amounts falling due within one year
2015
2014
£
£
Trade creditors
Amounts owed to group undertakings and undertakings in which the company has a participating interest
Taxation and social security
Other creditors
7
Provisions for liabilities
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 8 -
8
Pension costs
Defined contribution
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund.
2015
2014
£
£
Contributions payable by the company for the year
-
9
Share capital
2015
2014
£
£
Allotted, called up and fully paid
10
Statement of movements on profit and loss account
Profit
and loss
account
and loss
account
£
Balance at 1 March 2014
Profit for the year
Balance at 28 February 2015
11
Control
The parent company is Comprehensive Service Facilities Limited, a company incorporated in England and Wales. There is no ultimate controlling party.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 9 -
12
Related party relationships and transactions
The company has taken advantage of the exemption available in accordance with FRS 8 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.