Wheelwash Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02667013 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

Wheelwash Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G J Stubbs

A J Pinkney

I Jolly

SECRETARY:

I Jolly

REGISTERED OFFICE:

Pyms Lane

Crewe

Cheshire

CW1 3PJ

REGISTERED NUMBER:

02667013 (England and Wales)

ACCOUNTANTS:

Banks Sheridan

Datum House

Electra Way

Crewe

Cheshire

CW1 6ZF

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

596,832

763,523

Investments

4

1,000

-

597,832

763,523

CURRENT ASSETS

Stocks

110,602

47,416

Debtors

278,209

367,325

Cash at bank and in hand

249,457

76,683

638,268

491,424

CREDITORS

Amounts falling due within one year

5

489,177

633,007

NET CURRENT ASSETS/(LIABILITIES)

149,091

(141,583

)

TOTAL ASSETS LESS CURRENT LIABILITIES

746,923

621,940

CREDITORS

Amounts falling due after more than one year

5

(102,674

)

(192,643

)

PROVISIONS FOR LIABILITIES

(127,582

)

(119,799

)

NET ASSETS

516,667

309,498

CAPITAL AND RESERVES

Called up share capital

6

7,000

7,000

Share premium

157,200

157,200

Profit and loss account

352,467

145,298

SHAREHOLDERS' FUNDS

516,667

309,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 10 February 2016 and were signed on its behalf by:

I Jolly - Director

1.	ACCOUNTING POLICIES

Going concern

After making enquiries the directors, have a reasonable expectation that the company has adequate resources to

continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going

concern basis in preparing the annual report and financial statements.

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 goods and rentals received from the hire of units, excluding VAT.

Rental income is recognised on an accruals basis.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, was fully provided for

in the year to 30 September 2007.

Research and development

Research and development expenditure is written off in the year in which it is incurred. Development costs

incurred are capitalised when recoverability can be assessed with reasonable certainty and amortised over a five

year period. All other development costs are written off in the year of expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value

of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the

shorter.

Plant and machinery

- at varying rates on cost between 10% and 25%

Fixtures and fittings

- 50% on cost

Motor vehicles

- 25% on cost

Hire plant

- at varying rates on cost between 10% and 20%

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date. The value of unutilised tax losses carried forward is offset against the provision for deferred tax so

arising.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Assets held for rental under operating leases

Assets held for rental are capitalised in the balance sheet and depreciated over their expected useful lives.

Rentals receivable under operating leases are credited to the profit and loss account on a straight line basis over

the term of the rental.

Warranty provision

A warranty provision is included to cover the cost of warranty work outstanding at the balance sheet date.

Government grants

Government grants are credited to the profit and loss account so as to recognise income in the same period as the

expenditure to which the grants are intended to contribute.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

231,655

AMORTISATION

At 1 October 2014

and 30 September 2015

231,655

NET BOOK VALUE

At 30 September 2015

-

At 30 September 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

1,766,032

Additions

74,981

Disposals

(202,186

)

At 30 September 2015

1,638,827

DEPRECIATION

At 1 October 2014

1,002,509

Charge for year

129,119

Eliminated on disposal

(89,633

)

At 30 September 2015

1,041,995

NET BOOK VALUE

At 30 September 2015

596,832

At 30 September 2014

763,523

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

1,000

At 30 September 2015

1,000

NET BOOK VALUE

At 30 September 2015

1,000

5.

CREDITORS

Creditors include an amount of £ 46,956 (2014 - £ 12,249 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

7,000

Ordinary shares of £1 each

£1

7,000

7,000

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

8.	ULTIMATE CONTROLLING PARTY