ACCOUNTS - Final Accounts preparation

WATER ENVIRONMENTAL TREATMENT LIMITED - Company Information

WATER ENVIRONMENTAL TREATMENT LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

Registered number: 02685141

WATER ENVIRONMENTAL TREATMENT LIMITED

CONTENTS

	Page
Accountants' Report	1
Balance Sheet	2 - 3
Notes to the Abbreviated Accounts	4 - 6

The following reproduces the text of the Report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WATER ENVIRONMENTAL TREATMENT LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Water Environmental Treatment Limited for the year ended 31 October 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:
http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Water Environmental Treatment Limited, as a body, in accordance with the terms of our engagement letter dated 10 October 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Water Environmental Treatment Limited and state those matters that we have agreed to state to the Board of Directors of Water Environmental Treatment Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Water Environmental Treatment Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Water Environmental Treatment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and profit of Water Environmental Treatment Limited after profit. You consider that Water Environmental Treatment Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Water Environmental Treatment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lancaster Clements Limited

Chartered Certified Accountants

Stanley House

27 Wellington Road

Bilston

West Midlands

WV14 6AH

18 July 2016

Page 1

WATER ENVIRONMENTAL TREATMENT LIMITED

REGISTERED NUMBER: 02685141

ABBREVIATED BALANCE SHEET

AS AT 31 OCTOBER 2015

2015

2014

	Note	£	£	£	£
FIXED ASSETS
Tangible assets	2		54,428		43,537

CURRENT ASSETS
Stocks		6,647		2,755
Debtors		308,961		391,591
Cash at bank		29,466		15,289

		345,074		409,635
CREDITORS: amounts falling due within one year	3	(94,555)		(158,282)
NET CURRENT ASSETS			250,519		251,353

TOTAL ASSETS LESS CURRENT LIABILITIES

304,947

294,890

CREDITORS: amounts falling due after more than one year	4	(111,143)	(118,916)
PROVISIONS FOR LIABILITIES
Deferred tax		(3,035)	(2,830)
NET ASSETS		190,769	173,144

CAPITAL AND RESERVES
Called up share capital	5	2	2
Profit and loss account		190,767	173,142

SHAREHOLDERS' FUNDS

190,769

173,144

Page 2

WATER ENVIRONMENTAL TREATMENT LIMITED

ABBREVIATED BALANCE SHEET (continued)

AS AT 31 OCTOBER 2015

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 October 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 18 July 2016.

Gary Parkinson

Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

WATER ENVIRONMENTAL TREATMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		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 April 2008).

	1.2	Turnover
		Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

	1.3	Tangible fixed assets and depreciation
		Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

				Motor vehicles	-	25% straight line
				Fixtures, fittings and equipment	-	25% straight line

	1.4	Leasing and hire purchase
		Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. 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.

	1.5	Operating leases
		Rentals under operating leases are charged to the Profit and Loss Account on a straight line basis over the lease term.

	1.6	Stocks
		Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 4

WATER ENVIRONMENTAL TREATMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

1.ACCOUNTING POLICIES (continued)

	1.7	Deferred taxation
		Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
		A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

2.TANGIBLE FIXED ASSETS

		Total
		£
	Cost
	At 1 November 2014	115,623
	Additions	40,500
	Disposals	(44,498)
	At 31 October 2015	111,625

	Depreciation
	At 1 November 2014	72,086
	Charge for the year	24,292
	On disposals	(39,181)
	At 31 October 2015	57,197

	Net book value
	At 31 October 2015	54,428
	At 31 October 2014	43,537

3.CREDITORS:
Amounts falling due within one year

These include secured creditors of £11,737 (2014 £16,401).

4.CREDITORS:
Amounts falling due after more than one year

These include secured creditors of £11,476 (2014 £6,166).

Page 5

WATER ENVIRONMENTAL TREATMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

5.SHARE CAPITAL

	2015	2014
	£	£
Allotted, called up and fully paid

2 ordinary shares of £1 each	2	2

Page 6