Abbreviated Company Accounts - WAKERING ENGINEERING CO.LIMITED
Abbreviated Company Accounts - WAKERING ENGINEERING CO.LIMITED
Registered Number 00908450
WAKERING ENGINEERING CO.LIMITED
Abbreviated Accounts
28 February 2015
WAKERING ENGINEERING CO.LIMITED Registered Number 00908450
Abbreviated Balance Sheet as at 28 February 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 28 February 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
And signed on their behalf by:
WAKERING ENGINEERING CO.LIMITED Registered Number 00908450
Notes to the Abbreviated Accounts for the period ended 28 February 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Freehold land and property 2% on cost
Boats 5% on reducing balance
Plant and office equipment 15% on reducing balance
Motor vehicles 25% on reducing balance
Intangible assets amortisation policy
Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items if applicable. Land on hand and costs is valued at cost.
Other accounting policies
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. The company has not adopted a policy of discounting deferred tax assets and liabilities.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
£ | |
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Cost | |
At 1 March 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 28 February 2015 |
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Depreciation | |
At 1 March 2014 |
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Charge for the year |
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On disposals |
( |
At 28 February 2015 |
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Net book values | |
At 28 February 2015 | 2,096,776 |
At 28 February 2014 | 2,251,369 |