Wright Signs (Newark) Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07828446 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2013

for

Wright Signs (Newark) Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTOR:

C Wright

REGISTERED OFFICE:

1 Chain Lane

Newark

NG24 1AU

REGISTERED NUMBER:

07828446 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Beaumond Chambers

London Road

Newark

Nottinghamshire

NG24 1TN

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Wright Signs (Newark) Ltd for the year ended 31 December 2013 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Wright Signs (Newark) Ltd in accordance with our terms of engagement.

Our work has been undertaken solely to prepare for your approval the financial statements of Wright Signs (Newark) Ltd

and state those matters that we have agreed to state to the director of Wright Signs (Newark) Ltd in this report in

accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Wright Signs (Newark) Ltd has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wright Signs

(Newark) Ltd. You consider that Wright Signs (Newark) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wright Signs (Newark) Ltd.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

Beaumond Chambers

London Road

Newark

Nottinghamshire

NG24 1TN

29 September 2014

FIXED ASSETS

Tangible assets

2

11,667

4,745

CURRENT ASSETS

Stocks

530

530

Debtors

3,206

2,525

Cash at bank

1,005

806

4,741

3,861

CREDITORS

Amounts falling due within one year

28,973

17,616

NET CURRENT LIABILITIES

(24,232

)

(13,755

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,565

)

(9,010

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(12,566

)

(9,011

)

SHAREHOLDERS' FUNDS

(12,565

)

(9,010

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 September 2014 and were signed by:

C Wright - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared on a going concern basis which assumes that the director will continue to support

the Company. If this support was not to continue then this basis may not be appropriate, as at 31 December

2012 the Company's current liabilities exceeded the current assets by £13,755 (2011 : nil).

Should the company then not be able to continue trading, adjustments to the value of assets would be needed

to provide for any further liabilities which might arise and to reclassify fixed assets and long term liabilities as

current assets and liabilities.

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.

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

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

30% 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.

Going concern

At 31 December 2013 the company's net current liabilities exceeded its total assets by £15,565 (2012: £9,010)

Included within liabilities are amounts due to the director of the company totalling £15,075 (2012: £13,074), also

included is a loan from The Bald Barber Limited of £4,302 (2012: £3,556) a company controlled by the director

Mr C Wright . The director has agreed that this funding will not be removed in the near future and also that they

will continue to financially support the company's cash flow as necessary.

On the basis described above, the director consider it appropriate to prepare these financial statements on the

going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

6,153

Additions

10,526

At 31 December 2013

16,679

DEPRECIATION

At 1 January 2013

1,408

Charge for year

3,604

At 31 December 2013

5,012

NET BOOK VALUE

At 31 December 2013

11,667

At 31 December 2012

4,745

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

1

Ordinary

£1

1

1