Abbreviated Company Accounts - WATSON TRADING CO. (LONDON) LIMITED

Abbreviated Company Accounts - WATSON TRADING CO. (LONDON) LIMITED

WATSON TRADING CO. (LONDON) LIMITED - Company Information

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Registered Number 01520240

WATSON TRADING CO. (LONDON) LIMITED

Abbreviated Accounts

31 March 2016

WATSON TRADING CO. (LONDON) LIMITED Registered Number 01520240

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 7,181 13,431
Tangible assets 3 1,270 1,588
8,451 15,019
Current assets
Stocks 51,270 42,750
Cash at bank and in hand 23,907 24,500
75,177 67,250
Net current assets (liabilities) 75,177 67,250
Total assets less current liabilities 83,628 82,269
Creditors: amounts falling due after more than one year (83,610) (82,225)
Total net assets (liabilities) 18 44
Capital and reserves
Called up share capital 4 4
Profit and loss account 14 40
Shareholders' funds 18 44
  • For the year ending 31 March 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 30 June 2016

And signed on their behalf by:
Charles Yeung, Director

WATSON TRADING CO. (LONDON) LIMITED Registered Number 01520240

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at 20% net book value in order to write off the assets over their estimated useful lives.

2Intangible fixed assets
£
Cost
At 1 April 2015 125,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2016 125,000
Amortisation
At 1 April 2015 111,569
Charge for the year 6,250
On disposals -
At 31 March 2016 117,819
Net book values
At 31 March 2016 7,181
At 31 March 2015 13,431

Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.

3Tangible fixed assets
£
Cost
At 1 April 2015 3,101
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2016 3,101
Depreciation
At 1 April 2015 1,513
Charge for the year 318
On disposals -
At 31 March 2016 1,831
Net book values
At 31 March 2016 1,270
At 31 March 2015 1,588