WAVELL_CONSTRUCTION_LIMIT - Accounts

WAVELL CONSTRUCTION LIMITED - Company Information

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WAVELL CONSTRUCTION LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

Company Registration No. 04542070 (England and Wales)

WAVELL CONSTRUCTION LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WAVELL CONSTRUCTION LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

397

515

Current assets

Stocks

260

375

Debtors

8,028

2,274

Cash at bank and in hand

33,113

34,189

41,401

36,838

Creditors: amounts falling due within one year

(12,293)

(11,434)

Net current assets

29,108

25,404

Total assets less current liabilities

29,505

25,919

Provisions for liabilities

(79)

(103)

29,426

25,816

Capital and reserves

Called up share capital

100

Profit and loss account

29,326

25,716

Shareholders' funds

29,426

25,816

For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 July 2016

M J Purser

Director

Company Registration No. 04542070

WAVELL CONSTRUCTION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and equipment

15% Reducing balance

Office equipment

15% Reducing balance

Motor vehicles

25% Reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

WAVELL CONSTRUCTION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 November 2014 & at 31 October 2015

3,825

Depreciation

At 1 November 2014

3,310

Charge for the year

118

At 31 October 2015

3,428

Net book value

At 31 October 2015

397

At 31 October 2014

515

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Control

The company is controlled jointly by the directors.