Wood Business Systems Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05200629 (England and Wales)

WOOD BUSINESS SYSTEMS LIMITED

ABBREVIATED UNAUDITED CESSATION ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

-

1,804

CURRENT ASSETS

Debtors

4,178

6,613

Cash at bank

16

4,194

6,629

CREDITORS

Amounts falling due within one year

(6,071

)

(8,408

)

NET CURRENT LIABILITIES

(1,877

)

(1,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,877

)

25

CAPITAL AND RESERVES

Called up share capital

3

20

Profit and loss account

(1,897

)

5

SHAREHOLDERS' FUNDS

(1,877

)

25

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 26 April 2016 and were signed on its
behalf by:

P B Wood - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Office equipment

-

33% on cost

Deferred tax

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

the balance sheet date.

Hire purchase and leasing commitments

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

over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

3,701

DEPRECIATION

At 1 August 2014

1,897

Charge for year

1,804

At 31 July 2015

3,701

NET BOOK VALUE

At 31 July 2015

-

At 31 July 2014

1,804

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

20

Ordinary

£1

20

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2015 and

31 July 2014:

2015

2014

£

P B Wood

Balance outstanding at start of year

2,473

7,086

Amounts advanced

3,000

8,087

Amounts repaid

(1,762

)

(12,700

)

Balance outstanding at end of year

3,711

2,473