John Wells (Photo & Audio) Limited - Period Ending 2016-01-31

WILLOW STAITHE LIMITED - Company Information

Registration number: 00823479

John Wells (Photo & Audio) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016

Barnard Sampson LLP
3a Quay View Business Park
Barnards Way
Lowestoft
Suffolk
NR32 2HD

John Wells (Photo & Audio) Limited

Contents

Abbreviated Balance Sheet	1
Notes to the Abbreviated Accounts	2 to 3

John Wells (Photo & Audio) Limited

(Registration number: 00823479)
Abbreviated Balance Sheet as at 31 January 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	153,129	154,491
Current assets
Cash at bank and in hand		112,213	111,432
Prepayments and accrued income		602	246
Creditors: Amounts falling due within one year		(26,419)	(24,436)
Net current assets		86,396	87,242
Total assets less current liabilities		239,525	241,733
Accruals and deferred income		(1,312)	(4,763)
Net assets		238,213	236,970
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		238,113	236,870
Shareholders funds		238,213	236,970

For the year ending 31 January 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 25 October 2016 and signed on its behalf by:

.........................................
Mr J H Wells
Director

.........................................
Mrs M Wells
Company secretary and director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

John Wells (Photo & Audio) Limited

Notes to the Abbreviated Accounts

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	2% on cost
Plant and machinery	15% on cost

Fixed assets

	Tangible assets £	Total £
Cost
At 1 February 2015	168,111	168,111
At 31 January 2016	168,111	168,111
Depreciation
At 1 February 2015	13,620	13,620
Charge for the year	1,362	1,362
At 31 January 2016	14,982	14,982
Net book value
At 31 January 2016	153,129	153,129
At 31 January 2015	154,491	154,491

Page 2

John Wells (Photo & Audio) Limited

Notes to the Abbreviated Accounts

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Related party transactions

Transactions with directors

2016	At 1 February 2015 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 January 2016 £
Mr J H Wells
The company operates a current account	17,270	-	-	1,910	19,180

2015	At 1 February 2014 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 January 2015 £
Mr J H Wells
The company operates a current account	37,506	(20,336)	-	-	17,170

Control

The company is controlled by Mr J Wells. Mr J Wells controls the company by virtue of his beneficial and non beneficial shareholdings.

Page 3