Wilsons Construction Limited - Period Ending 2016-02-29

Registration number: 06834479

Wilsons Construction Limited

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

Wilsons Construction Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Wilsons Construction Limited (Registration number: 06834479)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					10,274			5,833
Current assets
Stocks					8,548			30,690
Debtors					89,920			43,033
Cash at bank and in hand					28,988			34,467
					127,456			108,190
Creditors: Amounts falling due within one year					(105,567)			(96,235)
Net current assets					21,889			11,955
Net assets					32,163			17,788
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					32,063			17,688
Shareholders' funds					32,163			17,788

For the year ending 29 February 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 director acknowledges his 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 director on 13 July 2016

.........................................
Mr R J Wilson
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Wilsons Construction Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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	15% reducing balance basis
Motor vehicles	25% reducing balance basis
Office equipment	25% reducing balance basis

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Wilsons Construction Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2015		11,395			11,395
Additions		7,777			7,777
Disposals		(1,700)			(1,700)
At 29 February 2016		17,472			17,472
Depreciation
At 1 March 2015		5,562			5,562
Charge for the year		2,798			2,798
Eliminated on disposals		(1,162)			(1,162)
At 29 February 2016		7,198			7,198
Net book value
At 29 February 2016		10,274			10,274
At 28 February 2015		5,833			5,833

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
A Ordinary of £1 each		50			50			50			50
B Ordinary of £1 each		50			50			50			50
		100			100			100			100

Page 3