WATCHET_PRODUCTS_LIMITED - Accounts

WATCHET PRODUCTS LIMITED - Company Information

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Company Registration No. 07109265 (England and Wales)

WATCHET PRODUCTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2014

WATCHET PRODUCTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WATCHET PRODUCTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

8,625

Current assets

Debtors

Cash at bank and in hand

Creditors: amounts falling due within one year

(115,486)

(117,489)

Net current liabilities

(115,455)

(117,473)

Total assets less current liabilities

(115,455)

(108,848)

Capital and reserves

Called up share capital

Profit and loss account

(115,457)

(108,850)

Shareholders' funds

(115,455)

(108,848)

For the financial period ended 31 July 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The directors acknowledge their 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 17 October 2014

Mr M.R. Pilley

Director

Company Registration No. 07109265

WATCHET PRODUCTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 JULY 2014

- 2 -

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 April 2008).

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

Goodwill

Goodwill has been fully amortised.

1.5

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

20% straight line

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 February 2013

36,000

22,500

58,500

Disposals

(22,500)

At 31 July 2014

36,000

Depreciation

At 1 February 2013

36,000

13,875

49,875

On disposals

(18,375)

Charge for the period

4,500

At 31 July 2014

36,000

Net book value

At 31 July 2014

At 31 January 2013

8,625

WATCHET PRODUCTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 JULY 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary of £1 each