WEST_ELECTRICAL_LIMITED - Accounts

WEST ELECTRICAL LIMITED - Company Information

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Company Registration No. 05073793 (England and Wales)

WEST ELECTRICAL LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

WEST ELECTRICAL LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WEST ELECTRICAL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

16,269

12,286

Current assets

Stocks

3,250

5,000

Debtors

46,251

96,192

Cash at bank and in hand

11,611

3,160

61,112

104,352

Creditors: amounts falling due within one year

(77,263)

(110,570)

Net current liabilities

(16,151)

(6,218)

Total assets less current liabilities

118

6,068

Creditors: amounts falling due after more than one year

(21,718)

118

(15,650)

Capital and reserves

Called up share capital

Profit and loss account

117

(15,651)

Shareholders' funds

118

(15,650)

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 December 2015

Mr S Clark

Director

Company Registration No. 05073793

WEST ELECTRICAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

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

25% Reducing Balance

Fixtures, fittings and equipment

15% Reducing Balance

Motor vehicles

25% Reducing Balance

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. 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.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

WEST ELECTRICAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2014

20,000

47,708

67,708

Additions

12,332

Disposals

(9,592)

At 31 March 2015

20,000

50,448

70,448

Depreciation

At 1 April 2014

20,000

35,422

55,422

On disposals

(7,360)

Charge for the year

6,117

At 31 March 2015

20,000

34,179

54,179

Net book value

At 31 March 2015

16,269

At 31 March 2014

12,286

Share capital

2015

2014

Allotted, called up and fully paid

1 of £1 each