Company Registration No. 06415616 (England and Wales)
WELCOME MORTGAGE SOLUTIONS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
WELCOME MORTGAGE SOLUTIONS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
WELCOME MORTGAGE SOLUTIONS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
605
806
Current assets
Debtors
2,223
6,741
Cash at bank and in hand
89,395
58,085
91,618
64,826
Creditors: amounts falling due within one year
(16,261)
(14,909)
Net current assets
75,357
49,917
Total assets less current liabilities
75,962
50,723
Creditors: amounts falling due after more than one year
(5,000)
(5,000)
70,962
45,723
Capital and reserves
Called up share capital
3
4
4
Profit and loss account
70,958
45,719
Shareholders' funds
70,962
45,723
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 June 2016
Mr David Warboys
Director
Company Registration No. 06415616
WELCOME MORTGAGE SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
2,778
Depreciation
At 1 April 2015
1,971
Charge for the year
202
At 31 March 2016
2,173
Net book value
At 31 March 2016
605
At 31 March 2015
806
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary of £1 each
2
2
1 Ordinary A of £1 each
1
1
1 Ordinary B of £1 each
1
1
4
4
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