Traston Welders Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02481056 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Traston Welders Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R E Stevens

H C Maggs

SECRETARY:

Mrs G Stevens

REGISTERED OFFICE:

Traston Road

Newport

SOUTH WALES

NP19 4RQ

REGISTERED NUMBER:

02481056 (England and Wales)

ACCOUNTANTS:

Phil Bessant Limited

Chartered Management Accountants

72 Caerau Road

Newport

SOUTH WALES

NP20 4HJ

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

52,157

45,523

52,157

45,523

CURRENT ASSETS

Stocks

14,000

15,000

Debtors

236,892

265,054

Cash at bank and in hand

457,553

336,508

708,445

616,562

CREDITORS

Amounts falling due within one year

139,949

124,751

NET CURRENT ASSETS

568,496

491,811

TOTAL ASSETS LESS CURRENT
LIABILITIES

620,653

537,334

PROVISIONS FOR LIABILITIES

9,913

8,596

NET ASSETS

610,740

528,738

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

609,740

527,738

SHAREHOLDERS' FUNDS

610,740

528,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 11 May 2016 and were signed on its behalf by:

R E Stevens - 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.

Goodwill

Goodwill was written off against reserves over a seven year period ending 31 March 1998.

Tangible fixed assets

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

Improvements to property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

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 April 2015

and 31 March 2016

30,000

AMORTISATION

At 1 April 2015

and 31 March 2016

30,000

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

198,967

Additions

15,995

Disposals

(8,500

)

At 31 March 2016

206,462

DEPRECIATION

At 1 April 2015

153,444

Charge for year

9,157

Eliminated on disposal

(8,296

)

At 31 March 2016

154,305

NET BOOK VALUE

At 31 March 2016

52,157

At 31 March 2015

45,523

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

1,000

Ordinary

£1

1,000

5.	RELATED PARTY DISCLOSURES

The property occupied by the company is rented from the shareholders. There is no formal rental agreement but

rent paid during the year amounted to £19500 ( £19500 2015).

6.

CONTROL

The company is not controlled by any one single party.