W People Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07952549 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2016

FOR

W PEOPLE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P E Wildes

M A Wildes

SECRETARY:

M A Wildes

REGISTERED OFFICE:

Unit 3, Metis

1 Scotland Street

Sheffield

South Yorkshire

S3 7AT

REGISTERED NUMBER:

07952549 (England and Wales)

ACCOUNTANTS:

McLintocks Partnership Limited

Chartered Accountants

2 Hilliards Court

Chester Business Park

Chester

Cheshire

CH4 9PX

FIXED ASSETS

Intangible assets

2

1

Tangible assets

3

79,778

81,185

Investments

4

500,000

500,001

579,779

581,187

CURRENT ASSETS

Stocks

13,466

6,139

Debtors

5

1,326,353

1,304,620

Cash at bank

682

148

1,340,501

1,310,907

CREDITORS

Amounts falling due within one year

428,256

423,015

NET CURRENT ASSETS

912,245

887,892

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,492,024

1,469,079

CREDITORS

Amounts falling due after more than
one year

28,354

175,469

NET ASSETS

1,463,670

1,293,610

CAPITAL AND RESERVES

Called up share capital

6

500,001

Profit and loss account

963,669

793,609

SHAREHOLDERS' FUNDS

1,463,670

1,293,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 21 November 2016 and were
signed on its behalf by:

P E Wildes - 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 services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five 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

-

20% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

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

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

line basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 28 February 2016

1

NET BOOK VALUE

At 28 February 2016

1

At 28 February 2015

1

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

192,158

Additions

52,080

Disposals

(49,705

)

At 28 February 2016

194,533

DEPRECIATION

At 1 March 2015

110,973

Charge for year

43,184

Eliminated on disposal

(39,402

)

At 28 February 2016

114,755

NET BOOK VALUE

At 28 February 2016

79,778

At 28 February 2015

81,185

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 March 2015

500,001

Disposals

(1

)

At 28 February 2016

500,000

NET BOOK VALUE

At 28 February 2016

500,000

At 28 February 2015

500,001

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 551,868 (2015 - £

735,983 )

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

500,001

Share capital

1

500,001

7.	ULTIMATE PARENT COMPANY

W Investment Group Limited is regarded by the directors as being the company's ultimate

parent company.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A personal guarantee has been provided to Santander UK plc by the director P E Wildes in

the amount of £272,500.