WESTCO_PARTNERSHIP_LIMITE - Accounts
WESTCO_PARTNERSHIP_LIMITE - Accounts
Company Registration No. 04977850 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(850,807 )
(497,300 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(11,236 )
(25,804 )
Provisions for liabilities
(1,792 )
(3,297 )
172,852
82,009
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 28 August 2014
Director
Company Registration No. 04977850
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Improvement to property
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock and work in progress
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.
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2013
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2013
134,266
Additions
1,737
At 31 December 2013
136,003
Depreciation
At 1 January 2013
84,337
Charge for the year
20,847
At 31 December 2013
105,184
Net book value
At 31 December 2013
30,819
At 31 December 2012
49,930
3
Share capital
2013
2012
£
£
Allotted, called up and fully paid