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WATFORD REFRIGERATION AND AIR CONDITIONING LIMITED
REGISTERED NUMBER: 00457930
ABBREVIATED BALANCE SHEET
AS AT 31 OCTOBER 2015
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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PROVISIONS FOR LIABILITIES
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NET ASSETS EXCLUDING PENSION SCHEME LIABILITY
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Defined benefit pension scheme liability
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NET ASSETS INCLUDING PENSION SCHEME LIABILITY
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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.
Page 1
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WATFORD REFRIGERATION AND AIR CONDITIONING LIMITED
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 OCTOBER 2015
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 25 July 2016.
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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WATFORD REFRIGERATION AND AIR CONDITIONING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of Freehold property and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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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.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Revaluation of tangible fixed assets
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As permitted by the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective April 2008) the company has elected not to adopt a policy of revaluation of tangible fixed assets. The company will retain the book value of land and buildings, previously revalued at 14 October 2002 and will not update that valuation.
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Stocks and work in progress
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Stocks and work in progress 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.
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The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
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The company operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 1 February 2015.
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Page 3
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WATFORD REFRIGERATION AND AIR CONDITIONING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
2.TANGIBLE FIXED ASSETS
3.SHARE CAPITAL
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Allotted, called up and fully paid
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2,499 (2014 - 2,500) Ordinary shares of £0.25 each
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Page 4
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