Westmore Business Systems Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02741960 (England and Wales)

WESTMORE BUSINESS SYSTEMS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH NOVEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTOR:

Mr S J Field

SECRETARY:

Mrs A A Field

REGISTERED OFFICE:

2 Arrow Court

Adams Way

Springfield Business Park

Alcester

Warwickshire

B49 6PU

REGISTERED NUMBER:

02741960 (England and Wales)

ACCOUNTANTS:

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

BANKERS:

Barclays Bank Plc

Leicester

LE87 2BB

FIXED ASSETS

Intangible assets

2

-

130,650

Tangible assets

3

6,487

25,178

6,487

155,828

CURRENT ASSETS

Stocks

33,030

43,281

Debtors

505,360

926,840

Cash at bank

133,900

14,003

672,290

984,124

CREDITORS

Amounts falling due within one year

4

506,132

958,023

NET CURRENT ASSETS

166,158

26,101

TOTAL ASSETS LESS CURRENT LIABILITIES

172,645

181,929

CREDITORS

Amounts falling due after more than one year

4

-

4,410

NET ASSETS

172,645

177,519

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

172,545

177,419

SHAREHOLDERS' FUNDS

172,645

177,519

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 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 have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 5th August 2016 and were signed by:

Mr S J Field - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being amounts paid in connection with the acquisition of businesses in 2003 and 2008, has been fully

amortised evenly over an estimated useful life of five years.

Additional goodwill, paid in 2007 and 2011 has been fully amortised following a review of the amortisation

policy by the director. Goodwill was previously being amortised over twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Rental machines

-

33% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st December 2014

and 30th November 2015

220,000

AMORTISATION

At 1st December 2014

89,350

Amortisation for year

130,650

At 30th November 2015

220,000

NET BOOK VALUE

At 30th November 2015

-

At 30th November 2014

130,650

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st December 2014

184,016

Additions

2,368

Disposals

(38,450

)

At 30th November 2015

147,934

DEPRECIATION

At 1st December 2014

158,838

Charge for year

3,036

Eliminated on disposal

(20,427

)

At 30th November 2015

141,447

NET BOOK VALUE

At 30th November 2015

6,487

At 30th November 2014

25,178

4.

CREDITORS

Creditors include an amount of £ 6,160 (2014 - £ 14,430 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

6.	ULTIMATE PARENT COMPANY

Field Holdings Limited is regarded by the director as being the company's ultimate parent company.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Westmore Business Systems Limited for the year ended 30th November 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 us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Westmore Business Systems Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westmore Business Systems Limited and state those matters that we have agreed to state to the director of Westmore Business Systems Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Westmore Business Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Westmore Business Systems Limited. You consider that Westmore Business Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Westmore Business Systems 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.

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

5th August 2016