| Whinstone Agencies Limited |
| Registered number: |
NI025072 |
| Abbreviated Balance Sheet |
| as at 30 November 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
10,009 |
|
|
12,187 |
|
| Current assets |
| Stocks |
|
|
49,248 |
|
|
42,942 |
| Debtors |
|
|
52,657 |
|
|
46,721 |
| Cash at bank and in hand |
|
|
2,176 |
|
|
692 |
|
|
|
104,081 |
|
|
90,355 |
|
| Creditors: amounts falling due within one year |
|
|
(148,996) |
|
|
(130,003) |
|
| Net current liabilities |
|
|
|
(44,915) |
|
|
(39,648) |
|
| Total assets less current liabilities |
|
|
|
(34,906) |
|
|
(27,461) |
|
|
| Provisions for liabilities |
|
|
|
(2,001) |
|
|
(2,438) |
|
|
| Net liabilities |
|
|
|
(36,907) |
|
|
(29,899) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
25,001 |
|
|
25,001 |
| Profit and loss account |
|
|
|
(61,908) |
|
|
(54,900) |
|
| Shareholders' funds |
|
|
|
(36,907) |
|
|
(29,899) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit 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 the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr J McCandless |
Mrs A McCandless |
| Director |
Director |
| Approved by the board on 31 August 2016 |
|
| Whinstone Agencies Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 November 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Going concern |
|
The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand. The nature of the company's business is such that there can be unpredictable variation in the timing of cash inflows. The directors have reviewed expected cash flow for the period ending 9 months from the date of their approval of these financial statements. On the basis of this cash flow information and discussions with the company's bankers, the directors consider that the company will continue to operate within the facility currently agreed. However, the margin of these facilities over requirements is not large and, inherently, there can be no certainty in relation to these matters. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers. |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
25% reducing balance |
|
Fixtures, fittings, and equipment |
15% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. Cost is calculated on the first in first out basis, and net realisable value is the expected sale value of stock, less any costs of sale. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
|
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 December 2014 |
81,110 |
|
At 30 November 2015 |
81,110 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2014 |
68,923 |
|
Charge for the year |
2,178 |
|
At 30 November 2015 |
71,101 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2015 |
10,009 |
|
At 30 November 2014 |
12,187 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
25,001 |
|
25,001 |
|
25,001 |
|
|
|
|
|
|
|
|
|
