Peter Whiting (Chemicals) Limited - Limited company - abbreviated - 11.9
Peter Whiting (Chemicals) Limited - Limited company - abbreviated - 11.9
| PETER WHITING (CHEMICALS) LIMITED |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 July 2015 |
| PETER WHITING (CHEMICALS) LIMITED (REGISTERED NUMBER: 01381190) |
| Contents of the Abbreviated Accounts |
| for the year ended 31 July 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| PETER WHITING (CHEMICALS) LIMITED |
| Company Information |
| for the year ended 31 July 2015 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| Bankers: |
| PETER WHITING (CHEMICALS) LIMITED (REGISTERED NUMBER: 01381190) |
| Abbreviated Balance Sheet |
| 31 July 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 2 |
| Investments | 3 |
| Current assets |
| Stocks |
| Debtors |
| Cash at bank |
| Creditors |
| Amounts falling due within one year |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 4 |
| Profit and loss account |
| Shareholders' funds |
| 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 financial statements were approved by the Board of Directors on |
| PETER WHITING (CHEMICALS) LIMITED (REGISTERED NUMBER: 01381190) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 July 2015 |
| 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). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Peter Whiting (Chemicals) Limited as an individual |
| company and do not contain consolidated financial information as the parent of a group. The company has |
| taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial |
| statements. |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of goods and services supplied during the |
| year, exclusive of Value Added Tax and trade discounts. |
| Tangible fixed assets |
| Freehold property | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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 provided on the liability method to take account of timing differences between the treatment of |
| certain items for accounts purposes and their treatment for tax purposes. The company has not adopted a |
| policy of discounting deferred tax assets and liabilities. |
| 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. |
| 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. |
| 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. |
| Employee benefit trust |
| The company operates an employee benefit trust for all its employees, known as The Sheila Whiting Employee |
| Benefit Trust. The assets of the trust are considered to be under the de facto control of the company and, as a |
| result, are consolidated within these financial statements in accordance with current accounting requirements. |
| Investments |
| Investments held as fixed assets are shown at cost less provision for impairment. |
| PETER WHITING (CHEMICALS) LIMITED (REGISTERED NUMBER: 01381190) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 July 2015 |
| 2. | Tangible fixed assets |
| Total |
| £ |
| Cost |
| At 1 August 2014 |
| and 31 July 2015 |
| Depreciation |
| At 1 August 2014 |
| Charge for year |
| At 31 July 2015 |
| Net book value |
| At 31 July 2015 |
| At 31 July 2014 |
| 3. | Fixed asset investments |
| Investments |
| other than |
| loans |
| £ |
| Cost |
| At 1 August 2014 |
| and 31 July 2015 | 5,000 |
| Net book value |
| At 31 July 2015 |
| At 31 July 2014 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary Shares | 100.00 |
| £ | £ |
| Aggregate capital and reserves | (53,150 | ) | 9,050 |
| Loss for the year | (62,200 | ) | (6,495 | ) |
| 4. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| 9% Preference | £1 |
| Preference A | £1 |
| 220,000 | 220,000 |
| PETER WHITING (CHEMICALS) LIMITED (REGISTERED NUMBER: 01381190) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 July 2015 |
| 5. | Controlling party |
| The ultimate controlling party is P J Whiting by virtue of his shareholding. |