Wardmans (Matlock) Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 04700904 (England and Wales)

WARDMANS (MATLOCK) LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr G M Wardman

Mrs M R Wardman

SECRETARY:

Mrs P M Taylor

REGISTERED OFFICE:

Old Coach Road

Tansley

Matlock

Derbyshire

DE4 5FY

REGISTERED NUMBER:

04700904 (England and Wales)

ACCOUNTANTS:

The Rees Partnership

Bentley Bridge House

Chesterfield Road

Matlock

Derbyshire

DE4 5LE

BANKERS:

HSBC Plc

Market Place

Chesterfield

Derbyshire

S40 1TN

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

1,241,126

1,197,407

1,241,126

1,197,407

CURRENT ASSETS

Stocks

1,092,710

1,302,706

Debtors

491,718

446,168

Cash at bank and in hand

248,880

33,700

1,833,308

1,782,574

CREDITORS

Amounts falling due within one year

4

(686,955

)

(738,681

)

NET CURRENT ASSETS

1,146,353

1,043,893

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,387,479

2,241,300

CREDITORS

Amounts falling due after more than one
year

4

(169,660

)

(284,155

)

PROVISIONS FOR LIABILITIES

(17,384

)

(9,439

)

NET ASSETS

2,200,435

1,947,706

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

2,200,335

1,947,606

SHAREHOLDERS' FUNDS

2,200,435

1,947,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 16 June 2016 and were signed on its
behalf by:

Mr G M Wardman - Director

Mrs M R Wardman - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis. No material uncertainties

that may cast significant doubt about the ability of the company to continue as a going concern have

been identified by the directors.

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 2003, 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.

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and 10% 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

Full provision is made for deferred taxation resulting from timing differences between the recognition of

gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is

calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when

the timing differences will reverse.

Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the

company has entered into a binding agreement to sell the assets and recognised the gains and losses

expected to arise on sale. Deferred tax is also not recognised where assets have been sold and it is

expected that the taxable gain will be rolled over into a replacement asset.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

60,000

AMORTISATION

At 1 January 2015

and 31 December 2015

60,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

1,233,421

Additions

55,224

At 31 December 2015

1,288,645

DEPRECIATION

At 1 January 2015

36,014

Charge for year

11,505

At 31 December 2015

47,519

NET BOOK VALUE

At 31 December 2015

1,241,126

At 31 December 2014

1,197,407

4.

CREDITORS

Creditors include an amount of £ 87,262 (2014 - £ 122,672 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

Repayable by instalments

-

13,748

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100