Water Improvements Ltd - Period Ending 2015-10-31

Registration number: 02978949

Water Improvements Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Ashfield Accountancy Service
Suite 3a
Oriental Road
Woking
Surrey
GU22 7AH

Water Improvements Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

Accountants' Report to the Director on the Preparation of the Unaudited Abbreviated Statutory Accounts of
Water Improvements Ltd
for the Year Ended 31 October 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Water Improvements Ltd for the year ended 31 October 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Water Improvements Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Water Improvements Ltd and state those matters that we have agreed to state to them, as a body, in this report and for no other purpose . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Water Improvements Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Water Improvements Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Water Improvements Ltd. You consider that Water Improvements Ltd 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 accounts of Water Improvements Ltd. 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 accounts.

......................................

Ashfield Accountancy Service
Suite 3a
Oriental Road
Woking
Surrey
GU22 7AH

31 October 2016

Page 1

Water Improvements Ltd
(Registration number: 02978949)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					28,431			28,575
Current assets
Stocks					627			2,383
Debtors					217			-
Cash at bank and in hand					184			202
					1,028			2,585
Creditors: Amounts falling due within one year					(7,252)			(8,288)
Net current liabilities					(6,224)			(5,703)
Net assets					22,207			22,872
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					22,107			22,772
Shareholders' funds					22,207			22,872

For the year ending 31 October 2015 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 director acknowledges his 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 director on 31 October 2016

.........................................
Mr AD O'Connor
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Water Improvements Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis. The basis may not be appropriate because the company shows net current liabilities. The director has shown a willingness to continue to support the company.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Plant & machinery	25% reducing balance basis
Motor vehicle	25% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Water Improvements Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		41,776			41,776
At 31 October 2015		41,776			41,776
Depreciation
At 1 November 2014		13,201			13,201
Charge for the year		144			144
At 31 October 2015		13,345			13,345
Net book value
At 31 October 2015		28,431			28,431
At 31 October 2014		28,575			28,575

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4