JT Ward Kitchens & Bedrooms Limited - Period Ending 2016-01-31

Registration number: 08637138

JT Ward Kitchens & Bedrooms Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

Bulley Davey Limited
Chartered Certified Accountants
1 - 4 London Road
Spalding
Lincolnshire
PE11 2TA

JT Ward Kitchens & Bedrooms Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

JT Ward Kitchens & Bedrooms Limited
(Registration number: 08637138)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			2,391			1,456
Current assets
Stocks					5,890			6,250
Debtors					43,604			48,111
Cash at bank and in hand					43,277			11,917
					92,771			66,278
Creditors: Amounts falling due within one year					(33,802)			(43,340)
Net current assets					58,969			22,938
Total assets less current liabilities					61,360			24,394
Provisions for liabilities					(478)			(291)
Net assets					60,882			24,103
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					60,782			24,003
Shareholders' funds					60,882			24,103

For the year ending 31 January 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 7 June 2016 and signed on its behalf by:

 Mr M A Ward
 Director

 Mrs D L Ward
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

JT Ward Kitchens & Bedrooms Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% Straight Line

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

JT Ward Kitchens & Bedrooms Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2015		1,941			1,941
Additions		1,894			1,894
At 31 January 2016		3,835			3,835
Depreciation
At 1 February 2015		485			485
Charge for the year		959			959
At 31 January 2016		1,444			1,444
Net book value
At 31 January 2016		2,391			2,391
At 31 January 2015		1,456			1,456

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 3