W+S Electrics Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05810626 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2015

for

W+s Electrics Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J M Williams

SECRETARY:

Mrs A Williams

REGISTERED OFFICE:

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

REGISTERED NUMBER:

05810626 (England and Wales)

ACCOUNTANTS:

Douglas Fairless Partnership

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

FIXED ASSETS

Intangible assets

2

8,250

9,000

Tangible assets

3

1,641

2,086

9,891

11,086

CURRENT ASSETS

Stocks

600

74

Debtors

13,712

5,530

Cash in hand

111

-

14,423

5,604

CREDITORS

Amounts falling due within one year

29,544

38,807

NET CURRENT LIABILITIES

(15,121

)

(33,203

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,230

)

(22,117

)

PROVISIONS FOR LIABILITIES

328

-

NET LIABILITIES

(5,558

)

(22,117

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(5,559

)

(22,118

)

SHAREHOLDERS' FUNDS

(5,558

)

(22,117

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 29 February 2016 and were signed by:

J M Williams - 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 goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

15,000

AMORTISATION

At 1 June 2014

6,000

Amortisation for year

750

At 31 May 2015

6,750

NET BOOK VALUE

At 31 May 2015

8,250

At 31 May 2014

9,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

15,546

DEPRECIATION

At 1 June 2014

13,460

Charge for year

445

At 31 May 2015

13,905

NET BOOK VALUE

At 31 May 2015

1,641

At 31 May 2014

2,086

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

£

1

Ordinary

£1

1

1