Woolley Pritchard & Co Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07774224 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

WOOLLEY PRITCHARD & CO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D Chitty

REGISTERED OFFICE:

Varney House

91 Spon Lane

West Bromwich

West Midlands

B70 6AB

REGISTERED NUMBER:

07774224 (England and Wales)

ACCOUNTANTS:

Crombies Accountants Limited

Chartered Accountants

34 Waterloo Road

Wolverhampton

West Midlands

WV1 4DG

FIXED ASSETS

Intangible assets

2

204,000

216,750

Tangible assets

3

11,867

17,491

215,867

234,241

CURRENT ASSETS

Stocks

28,500

Debtors

136,638

106,561

Cash at bank and in hand

2,240

12,683

167,378

147,744

CREDITORS

Amounts falling due within one year

69,167

63,366

NET CURRENT ASSETS

98,211

84,378

TOTAL ASSETS LESS CURRENT
LIABILITIES

314,078

318,619

CREDITORS

Amounts falling due after more than one
year

210,716

229,508

NET ASSETS

103,362

89,111

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

103,262

89,011

SHAREHOLDERS' FUNDS

103,362

89,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

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

D Chitty - 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 services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty 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 etc

-

33.3% on cost, 25% on reducing balance and 10% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

255,000

AMORTISATION

At 1 April 2015

38,250

Amortisation for year

12,750

At 31 March 2016

51,000

NET BOOK VALUE

At 31 March 2016

204,000

At 31 March 2015

216,750

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

34,493

Disposals

(8

)

At 31 March 2016

34,485

DEPRECIATION

At 1 April 2015

17,002

Charge for year

5,624

Eliminated on disposal

(8

)

At 31 March 2016

22,618

NET BOOK VALUE

At 31 March 2016

11,867

At 31 March 2015

17,491

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100