S Webb & Son Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00541583 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

S WEBB & SON LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr J M Ward

Mr T A Ward

Mr T T Ward

Mr A J Ward

SECRETARY:

Mrs A M Ward

REGISTERED OFFICE:

17 Upper High Street

Wednesbury

West Midlands

WS10 7HQ

REGISTERED NUMBER:

00541583 (England and Wales)

ACCOUNTANTS:

Wright & Co Partnership Limited

Chartered Accountants

5 Walsall Street

Wednesbury

West Midlands

WS10 9BZ

FIXED ASSETS

Tangible assets

2

1,056,492

721,580

CURRENT ASSETS

Stocks

5,600

6,000

Debtors

61,769

49,574

Cash at bank and in hand

138,573

7,012

205,942

62,586

CREDITORS

Amounts falling due within one year

3

190,647

258,304

NET CURRENT ASSETS/(LIABILITIES)

15,295

(195,718

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,071,787

525,862

CREDITORS

Amounts falling due after more than one year

3

(539,847

)

(281,690

)

PROVISIONS FOR LIABILITIES

(127,402

)

(34,092

)

NET ASSETS

404,538

210,080

CAPITAL AND RESERVES

Called up share capital

4

6,001

Profit and loss account

398,537

204,079

SHAREHOLDERS' FUNDS

404,538

210,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 29 June 2016 and were signed on its behalf by:

Mr T A Ward - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain

assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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.

Improvements to property

-

10% on cost

Plant & machinery

-

10% on reducing balance

Fixtures & fittings

-

10% on reducing balance

Motor vehicles

-

at varying rates on cost

Computer equipment

-

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 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.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2014

954,316

Additions

717,565

Disposals

(501,800

)

At 30 September 2015

1,170,081

DEPRECIATION

At 1 October 2014

232,736

Charge for year

18,749

Eliminated on disposal

(137,896

)

At 30 September 2015

113,589

NET BOOK VALUE

At 30 September 2015

1,056,492

At 30 September 2014

721,580

3.

CREDITORS

Creditors include an amount of £ 616,250 (2014 - £ 399,632 ) for which security has been given.

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

2015

2014

£

Repayable by instalments

-

792

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

6,000

Ordinary

£1

6,000

1

'B' Ordinary non-voting

£1

1

6,001