Whitmores Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: 04448167 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

Whitmores Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B W Whitmore

C B Whitmore

SECRETARY:

C B Whitmore

REGISTERED OFFICE:

2-4 Bridge Street

Polesworth

Tamworth

Staffordshire

B78 1DT

REGISTERED NUMBER:

04448167 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

18,769

14,070

18,769

14,070

CURRENT ASSETS

Stocks

29,391

32,762

Debtors

2,612

3,006

Cash at bank and in hand

12,832

7,867

44,835

43,635

CREDITORS

Amounts falling due within one year

66,610

62,775

NET CURRENT LIABILITIES

(21,775

)

(19,140

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,006

)

(5,070

)

PROVISIONS FOR LIABILITIES

1,957

2,319

NET LIABILITIES

(4,963

)

(7,389

)

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

(4,965

)

(7,391

)

SHAREHOLDERS' FUNDS

(4,963

)

(7,389

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 15 December 2016 and were signed on its behalf
by:

C B Whitmore - Director

B W Whitmore - 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).

The accounts are prepared on a going concern basis of accounting due to the continued support of the directors.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 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 provided in full on timing differences which result in an obligation at the balance sheet date to pay

more tax, or a right to pay less tax at a future date at rates expected to apply when they crystallise based on

current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in

taxation computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered.

Deferred tax assets and liabilities are not discounted.

Pension costs

Contributions payable to defined contribution schemes are charged against profits as they fall due.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

15,000

AMORTISATION

At 1 June 2015

and 31 May 2016

15,000

NET BOOK VALUE

At 31 May 2016

-

At 31 May 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

72,011

Additions

8,670

At 31 May 2016

80,681

DEPRECIATION

At 1 June 2015

57,941

Charge for year

3,971

At 31 May 2016

61,912

NET BOOK VALUE

At 31 May 2016

18,769

At 31 May 2015

14,070

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

2

Ordinary

£1

2