Wilson Benesch Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03298042 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 29 February 2016

for

Wilson Benesch Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

C Milnes

Mrs C C Milnes

SECRETARY:

Mrs C C Milnes

REGISTERED OFFICE:

Falcon House

Limestone Cottage Lane

Sheffield

S6 1NJ

REGISTERED NUMBER:

03298042 (England and Wales)

ACCOUNTANTS:

VOICE & CO ACCOUNTANCY SERVICES LIMITED

14 JESSOPS RIVERSIDE

800 BRIGHTSIDE LANE

SHEFFIELD

South Yorkshire

S9 2RX

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

170,677

198,937

170,677

198,937

CURRENT ASSETS

Stocks

373,775

376,091

Debtors

28,471

50,480

Cash at bank and in hand

8,343

82

410,589

426,653

CREDITORS

Amounts falling due within one year

4

(234,134

)

(282,488

)

NET CURRENT ASSETS

176,455

144,165

TOTAL ASSETS LESS CURRENT
LIABILITIES

347,132

343,102

CREDITORS

Amounts falling due after more than one
year

(223,248

)

(233,924

)

NET ASSETS

123,884

109,178

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

123,784

109,078

SHAREHOLDERS' FUNDS

123,884

109,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 25 May 2016 and were signed on its behalf by:

Mrs C C Milnes - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

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 arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

Deferred tax assets and liabilities are not discontinued.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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.

Government grants

Grants received towards revenue expenditure are credited to profit and loss in the year in which the expenditure

is incurred. Grants towards the purchase of fixed assets are deducted from the cost of the asset on receipt of the

grant.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

130,000

AMORTISATION

At 1 March 2015

and 29 February 2016

130,000

NET BOOK VALUE

At 29 February 2016

-

At 28 February 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

323,970

Additions

499

At 29 February 2016

324,469

DEPRECIATION

At 1 March 2015

125,033

Charge for year

28,759

At 29 February 2016

153,792

NET BOOK VALUE

At 29 February 2016

170,677

At 28 February 2015

198,937

4.

CREDITORS

Creditors include an amount of £ 0 (2015 - £ 28,321 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

3

Ordinary

£1

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the end of the year the company owed the directors Mr & Mrs C Milnes £172,691 (2015 - £154,192).

During the year dividends were paid to the directors totalling £57,200 (2015 - £57,600).

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr C Milnes and Mrs C C Milnes.

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

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) 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 Wilson Benesch Limited for the year ended 29 February 2016 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 Board of Directors of Wilson Benesch Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wilson Benesch Limited and state those matters that we have agreed to state to the Board of Directors of Wilson Benesch Limited, as a body, 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 Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wilson Benesch Limited 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 profit of Wilson Benesch Limited. You consider that Wilson Benesch Limited 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 Wilson Benesch Limited. 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.

VOICE & CO ACCOUNTANCY SERVICES LIMITED

14 JESSOPS RIVERSIDE

800 BRIGHTSIDE LANE

SHEFFIELD

South Yorkshire

S9 2RX

25 May 2016