Whitakers (South West) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08413422 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

WHITAKERS (SOUTH WEST) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N C Powell FCA

S G Hawkey FCA

L P Sole ACA

REGISTERED OFFICE:

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

REGISTERED NUMBER:

08413422 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Intangible assets

2

-

66,667

Tangible assets

3

12,003

12,330

12,003

78,997

CURRENT ASSETS

Stocks

24,525

23,734

Debtors

348,489

325,356

Cash at bank and in hand

53,688

50,291

426,702

399,381

CREDITORS

Amounts falling due within one year

115,886

126,305

NET CURRENT ASSETS

310,816

273,076

TOTAL ASSETS LESS CURRENT
LIABILITIES

322,819

352,073

CREDITORS

Amounts falling due after more than one
year

(240,000

)

(240,000

)

PROVISIONS FOR LIABILITIES

(750

)

(450

)

NET ASSETS

82,069

111,623

CAPITAL AND RESERVES

Called up share capital

4

150

Profit and loss account

81,919

111,473

SHAREHOLDERS' FUNDS

82,069

111,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 19 August 2016 and were signed on its behalf by:

N C Powell FCA - Director

S G Hawkey FCA - Director

L P Sole ACA - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of

service contracts where it is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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 items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

200,000

AMORTISATION

At 1 April 2015

133,333

Amortisation for year

66,667

At 31 March 2016

200,000

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

66,667

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

18,597

Additions

2,763

At 31 March 2016

21,360

DEPRECIATION

At 1 April 2015

6,267

Charge for year

3,090

At 31 March 2016

9,357

NET BOOK VALUE

At 31 March 2016

12,003

At 31 March 2015

12,330

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

150

Ordinary £1

£1

150

5.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors by virtue of the fact that between them they control 100% of the

company's ordinary shares.