Abbreviated Company Accounts - ROB WYMAN HOMES LTD

ROB WYMAN HOMES LTD - Company Information

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Registered Number 05595985

ROB WYMAN HOMES LTD

Abbreviated Accounts

30 September 2015

ROB WYMAN HOMES LTD Registered Number 05595985

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	19,309	4,904
		19,309	4,904
Current assets
Stocks		105,549	64,647
Cash at bank and in hand		56,066	1,516
		161,615	66,163
Creditors: amounts falling due within one year		(134,212)	(107,861)
Net current assets (liabilities)		27,403	(41,698)
Total assets less current liabilities		46,712	(36,794)
Creditors: amounts falling due after more than one year		(43,153)	0
Accruals and deferred income		(2,700)	0
Total net assets (liabilities)		859	(36,794)
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		858	(36,795)
Shareholders' funds		859	(36,794)

For the year ending 30 September 2015 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 17 June 2016

And signed on their behalf by:
Mr Robert Wyman, Director

ROB WYMAN HOMES LTD Registered Number 05595985

Notes to the Abbreviated Accounts for the period ended 30 September 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
Turnover consists of the invoiced value (excluding VAT) receivable by the Company in the ordinary course of business for goods supplied and for services supplied as a principal.

Tangible assets depreciation policy
Depreciation is calculated to write off the cost, less estimated residual values, of tangible fixed assets over their estimated useful lives to the business. Where there is evidence of impairment, fixed assets are written down to receivable amount. Any such write down would be charged to operating profit.

Plant and machinery 20.00% reducing balance
Motor Vehicles 25.00% reducing balance
Fixtures, Fittings and Office Equipment 20.00% reducing balance

Other accounting policies
Stock, work in progress and long term contracts

Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost is determined on a first in, first out basis. Cost consists of direct materials, labour and attributable overheads. Net realisable value is based on estimated selling price less any further costs of realisation.

Deferred Taxation

No provision has been made for deferred taxation.

Leased Assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

Going concern basis of accounting

The accounts have been prepared on the assumption that the company is able to carry on business as a going concern.

2Tangible fixed assets

	£
Cost
At 1 October 2014	28,846
Additions	15,867
Disposals	(8,000)
Revaluations	-
Transfers	-
At 30 September 2015	36,713
Depreciation
At 1 October 2014	23,942
Charge for the year	862
On disposals	(7,400)
At 30 September 2015	17,404
Net book values
At 30 September 2015	19,309
At 30 September 2014	4,904

Included within tangible fixed assets is £15,867 in respect of a Ford Transit Van which is subject to finance leases or a hire purchase contract.

At the year end £5,000 of the sum repayable was due within one year with £10,470 becoming repayable after one year. The total amount due was £15,470.

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1 Ordinary shares of £1 each	1	1

4Transactions with directors

Name of director receiving advance or credit:	Mr Robert Wyman
Description of the transaction:	Director's Loan Account
Balance at 1 October 2014:	£ 48,358
Advances or credits made:	£ 33,912
Advances or credits repaid:	£ 25,587
Balance at 30 September 2015:	£ 56,683

All transactions with the director are at market value

The director's loan is repayable:

within one year £ 24000
after one year £ 32683

Loan balance £ 56683