Wyfold Stud Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06505369 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 29 February 2016

for

Wyfold Stud Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs J M Williams

Mrs P C Williams

J H Williams

SECRETARY:

Miss J Hayward

REGISTERED OFFICE:

Boston House

Henley-on-Thames

RG9 1DY

REGISTERED NUMBER:

06505369 (England and Wales)

ACCOUNTANTS:

Villars Hayward LLP

Chartered Accountants,

Chartered Tax Advisers and Registered Auditors

Boston House

Henley-on-Thames

RG9 1DY

FIXED ASSETS

Tangible assets

2

868

1,819

CURRENT ASSETS

Stocks

6,500

Debtors

535

653

Cash at bank

201

983

7,236

8,136

CREDITORS

Amounts falling due within one year

139,188

127,340

NET CURRENT LIABILITIES

(131,952

)

(119,204

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(131,084

)

(117,385

)

CAPITAL AND RESERVES

Called up share capital

3

Profit and loss account

(131,087

)

(117,388

)

SHAREHOLDERS' FUNDS

(131,084

)

(117,385

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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 29 November 2016 and were signed on its behalf by:

J H Williams - Director

Mrs P C Williams - Director

Mrs J M Williams - 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, excluding value added tax.

Tangible fixed assets

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

Land and buildings

-

Straight line over 5 years

Plant and machinery

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Going concern

At 29 February 2016, the company had net current liabilities of £131,952 (2015 - £119,204), and total net liabilities of

£131,084 (2015 - £117,385). The financial statements have been prepared on the going concern basis. The applicability of

this basis is dependent upon the continued financial support of the directors who have pledged such support. As a result

the directors are therefore of the opinion that the applicability of the going concern basis is appropriate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

45,273

DEPRECIATION

At 1 March 2015

43,454

Charge for year

951

At 29 February 2016

44,405

NET BOOK VALUE

At 29 February 2016

868

At 28 February 2015

1,819

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.16

28.2.15

value:

£

3

Ordinary

£1

3