Company Registration No. 01137634 (England and Wales)
W. 4 LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
W. 4 LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
W. 4 LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
19,024
23,869
Current assets
Stocks
163,506
163,531
Debtors
3
84,351
48,308
Cash at bank and in hand
140,431
308,135
388,288
519,974
Creditors: amounts falling due within one year
(41,926)
(127,501)
Net current assets
346,362
392,473
Total assets less current liabilities
365,386
416,342
Creditors: amounts falling due after more than one year
4
(5,000)
(5,000)
Provisions for liabilities
-
(691)
360,386
410,651
Capital and reserves
Called up share capital
5
10,000
10,000
Profit and loss account
350,386
400,651
Shareholders' funds
360,386
410,651
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 4 April 2016
W E Petrie
Director
Company Registration No. 01137634
W. 4 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods sold net of VAT and trade discounts.sold net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Improvement to property
10% straight line
Computer & office equipment
20% - 33.3% straight line
Fixtures, fittings & equipment
10% - 20% straight line
Motor vehicles
25% straight line
1.4
Stock
Stock is valued at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation and, where appropriate, the cost of conversion from their existing state to a finished condition. Provision is made where necessary for obsolescent, slow moving and damaged stock.
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Deferred taxation
Provision is made in full for all taxation deferred in respect of timing differences that have originated but not reversed by the balance sheet date, except for timing differences arising on revaluations of fixed assets which are not intended to be sold, gains on disposals of fixed assets which will be rolled over into replacement assets and earnings of overseas subsidiaries that are not intended to be remitted to the UK. No provision is made for taxation on permanent differences. Deferred tax assets are recognised to the extent that it is more likely than not that they will be recovered.
1.7
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.8
The c ompany has created a trust whose beneficiaries will include employees of the c ompany and their dependents. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion. Where assets are held in the trust and these are considered by the c ompany to be in respect of services already provided by employees to the c ompany, the c ompany will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the c ompany’s profit and loss account for the year to which it relates.company has created a trust whose beneficiaries will include employees of the company and their dependents. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion.
Where assets are held in the trust and these are considered by the company to be in respect of services already provided by employees to the company, the company will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the company’s profit and loss account for the year to which it relates.
W. 4 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
415,845
Additions
3,408
At 31 December 2015
419,253
Depreciation
At 1 January 2015
391,976
Charge for the year
8,253
At 31 December 2015
400,229
Net book value
At 31 December 2015
19,024
At 31 December 2014
23,869
3
Debtors
Debtors include an amount of £11,532 (2014 - £-) which is due after more than one year.
4
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
5,000
5,000
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
5,000 Ordinary voting shares of £1 each
5,000
5,000
5,000 Ordinary non-voting shares of £1 each
5,000
5,000
10,000
10,000
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