South West Laundry Ltd - Period Ending 2014-02-28
South West Laundry Ltd - Period Ending 2014-02-28
Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
South West Laundry Ltd
Contents
|
|||
|
South West Laundry Ltd
(Registration number: 7190330)
Abbreviated Balance Sheet at 28 February 2014
Note |
28 February 2014
|
28 February 2013
|
|||||||
Fixed assets |
|||||||||
Intangible fixed assets |
|
|
|||||||
Tangible fixed assets |
|
|
|||||||
|
|
||||||||
Current assets |
|||||||||
Stocks |
|
|
|||||||
Debtors |
|
|
|||||||
Cash at bank and in hand |
|
|
|||||||
|
|
||||||||
Creditors: Amounts falling due within one year |
( |
( |
|||||||
Net current liabilities |
( |
( |
|||||||
Total assets less current liabilities |
|
|
|||||||
Creditors: Amounts falling due after more than one year |
( |
( |
|||||||
Provisions for liabilities |
( |
( |
|||||||
Net assets |
|
|
|||||||
Capital and reserves |
|||||||||
Called up share capital |
|
|
|||||||
Profit and loss account |
|
|
|||||||
Shareholders' funds |
|
|
Approved by the Board on
.........................................
Mr Wayne Retallack
Director
1
South West Laundry Ltd
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued
Accounting policies |
Basis of preparation
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.
Turnover
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
|
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Plant and Machinery |
|
Batch Washer |
|
Linen |
|
Improvements to leasehold property |
|
Motor Vehicles |
|
Stock
Deferred tax
Hire purchase and leasing
South West Laundry Ltd
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued
Financial instruments
Pensions
Government grants
Government capital grants towards the cost of fixed assets are treated as deferred income which is recognised over the expected useful lives of the related assets.
Government revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.
Fixed assets |
Intangible assets
|
Tangible assets
|
Total
|
|||||||
Cost |
|||||||||
At 1 March 2013 |
372,000 |
1,187,203 |
1,559,203 |
||||||
Additions |
- |
590,150 |
590,150 |
||||||
At 28 February 2014 |
372,000 |
1,777,353 |
2,149,353 |
||||||
Depreciation |
|||||||||
At 1 March 2013 |
100,389 |
319,850 |
420,239 |
||||||
Charge for the year |
37,200 |
213,195 |
250,395 |
||||||
At 28 February 2014 |
137,589 |
533,045 |
670,634 |
||||||
Net book value |
|||||||||
At 28 February 2014 |
|
|
|
||||||
At 28 February 2013 |
|
|
|
South West Laundry Ltd
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued
Creditors |
Creditors includes the following liabilities, on which security has been given by the company:
28 February 2014
|
28 February 2013
|
|||||
Amounts falling due within one year |
154,239 |
101,888 |
||||
Amounts falling due after more than one year |
340,014 |
381,845 |
||||
Total secured creditors |
494,254 |
483,733 |
Share capital |
Allotted, called up and fully paid shares
28 February 2014 |
28 February 2013 |
|||||||||||
No. |
£ |
No. |
£ |
|||||||||
|
|
|
|
|
||||||||
|
|
|
|
|
||||||||
|
|
|
|
|
||||||||
|
|
|
|
Related party transactions |
At the balance sheet date, Mr W. Retallack (director) had a balance outstanding to the company of £11,841 (2013 - £12,087 debit). This amount is interest free and repayable on demand.