WJ & ME Haulage Limited - Period Ending 2015-09-30

Registration number: 04280396

WJ & ME Haulage Limited Unaudited Abbreviated Accounts for the Year Ended 30 September 2015

WJ & ME Haulage Limited
Contents

Abbreviated Balance Sheet   1 to 2

Notes to the Abbreviated Accounts   3 to 5

WJ & ME Haulage Limited
(Registration number: 04280396)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					3,000			3,500
Tangible fixed assets					29,146			38,585
					32,146			42,085
Current assets
Debtors					21,141			29,720
Cash at bank and in hand					12,960			32,910
					34,101			62,630
Creditors: Amounts falling due within one year					(37,623)			(48,009)
Net current (liabilities)/assets					(3,522)			14,621
Total assets less current liabilities					28,624			56,706
Creditors: Amounts falling due after more than one year					(7,333)			(15,333)
Provisions for liabilities					-			(2,119)
Net assets					21,291			39,254
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					20,291			38,254
Shareholders' funds					21,291			39,254

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

For the year ending 30 September 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the director on 19 November 2015

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

WJ & ME Haulage Limited
(Registration number: 04280396)
Abbreviated Balance Sheet at 30 September 2015

.........................................
I G Coffin
Director

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

WJ & ME Haulage Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 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 represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Goodwill is the difference between the fair value of consideration paid for an aquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance
Lorries	25% reducing balance
Computer equipment	33 1/3% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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

Page 3

WJ & ME Haulage Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2014		10,000			41,523			51,523
At 30 September 2015		10,000			41,523			51,523
Depreciation
At 1 October 2014		6,500			2,938			9,438
Charge for the year		500			9,439			9,939
At 30 September 2015		7,000			12,377			19,377
Net book value
At 30 September 2015		3,000			29,146			32,146
At 30 September 2014		3,500			38,585			42,085

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		8,000			8,000
Amounts falling due after more than one year		7,333			15,333
Total secured creditors		15,333			23,333

Page 4

WJ & ME Haulage Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

5	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
I G Coffin
	14,339	1,848	-	3,737

Page 5