Walters Architects Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06705909 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended

31 March 2015

for

Walters Architects Limited

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

K A Walters

REGISTERED OFFICE:

69 Town Green Street

Rothley

Leicestershire

LE7 7NW

REGISTERED NUMBER:

06705909 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

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 three to seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Walters Architects Limited for the year ended 31 March 2015 which

comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Walters Architects Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Walters Architects Limited and state those matters that we have agreed to state to the director of Walters Architects Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Walters Architects Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Walters Architects Limited. You consider that Walters Architects Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Walters

Architects Limited. For this reason, we have not verified the accuracy or completeness of the accounting

records or information and explanations you have given to us and we do not, therefore, express any

opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

10 December 2015

FIXED ASSETS

Intangible assets

2

15,300

18,700

Tangible assets

3

2,618

1,021

17,918

19,721

CURRENT ASSETS

Debtors

10,842

4,310

Cash in hand

20

-

10,862

4,310

CREDITORS

Amounts falling due within one year

4

26,827

26,876

NET CURRENT LIABILITIES

(15,965

)

(22,566

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,953

(2,845

)

PROVISIONS FOR LIABILITIES

524

204

NET ASSETS/(LIABILITIES)

1,429

(3,049

)

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

1,428

(3,050

)

SHAREHOLDERS' FUNDS

1,429

(3,049

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 10 December 2015 and were signed by:

K A Walters - Director

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).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Turnover is

recognised when an invoice is raised and a right to consideration is due.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or a right to pay less or to receive more tax with the following

exceptions:

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.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in

the periods in which timing differences reverse, based on tax rates and laws enacted or

substantively enacted at the balance sheet date.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

34,000

AMORTISATION

At 1 April 2014

15,300

Amortisation for year

3,400

At 31 March 2015

18,700

NET BOOK VALUE

At 31 March 2015

15,300

At 31 March 2014

18,700

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

3,898

Additions

3,403

Disposals

(112

)

At 31 March 2015

7,189

DEPRECIATION

At 1 April 2014

2,877

Charge for year

1,716

Eliminated on disposal

(22

)

At 31 March 2015

4,571

NET BOOK VALUE

At 31 March 2015

2,618

At 31 March 2014

1,021

4.

CREDITORS

Creditors include an amount of £ 229 (31.3.14 - £ 1,331 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

1

Ordinary

£1

1

1

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2015

and 31 March 2014:

31.3.15

31.3.14

£

£

K A Walters

Balance outstanding at start of year

-

-

Amounts advanced

32,598

-

Amounts repaid

(24,937

)

-

Balance outstanding at end of year

7,661

-

The above loan is interest free and repayable on demand.