| Paul T Webster Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Paul T Webster Limited for the year ended 31 March 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Paul T Webster Limited for the year ended 31 March 2016 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Paul T Webster Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Paul T Webster Limited and state those matters that we have agreed to state to the Board of Directors of Paul T Webster Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul T Webster Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Paul T Webster Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Paul T Webster Limited. You consider that Paul T Webster Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of Paul T Webster Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
|
| Thomas David |
| Chartered Accountants |
| 6-7 Castle Gate |
| Castle Street |
| Hertford |
| Herts |
| SG14 1HD |
|
| 17 December 2016 |
|
| Paul T Webster Limited |
| Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
4 |
|
|
7,000 |
|
|
8,000 |
| Tangible assets |
5 |
|
|
575 |
|
|
1,150 |
|
|
|
|
7,575 |
|
|
9,150 |
|
| Current assets |
| Cash at bank and in hand |
|
|
- |
|
|
1,253 |
|
| Creditors: amounts falling due within one year |
6 |
|
(7,250) |
|
|
(9,927) |
|
| Net current liabilities |
|
|
|
(7,250) |
|
|
(8,674) |
|
| Total assets less current liabilities |
|
|
|
325 |
|
|
476 |
|
|
| Provisions for liabilities |
7 |
|
|
- |
|
|
(230) |
|
|
| Net assets |
|
|
|
325 |
|
|
246 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
8 |
|
|
100 |
|
|
100 |
| Profit and loss account |
9 |
|
|
225 |
|
|
146 |
|
| Shareholders' funds |
|
|
|
325 |
|
|
246 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| P T Webster |
| Director |
| Approved by the board on 16 December 2016 |
|
| Paul T Webster Limited |
| Notes to the Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Office Equiment |
25% straight line |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
| 2 |
Operating profit |
2016 |
|
2015 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
575 |
|
575 |
|
Amortisation of goodwill |
1,000 |
|
1,000 |
|
Directors' remuneration |
8,300 |
|
9,086 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
2016 |
|
2015 |
| £ |
£ |
|
|
UK corporation tax |
4,855 |
|
4,386 |
|
Deferred tax |
(230) |
|
230 |
|
|
|
|
|
|
4,625 |
|
4,616 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2015 |
10,000 |
|
At 31 March 2016 |
10,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2015 |
2,000 |
|
Provided during the year |
1,000 |
|
At 31 March 2016 |
3,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
7,000 |
|
At 31 March 2015 |
8,000 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years. |
|
|
| 5 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Office equipment |
| £ |
|
Cost |
|
At 1 April 2015 |
2,300 |
|
At 31 March 2016 |
2,300 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
1,150 |
|
Charge for the year |
575 |
|
At 31 March 2016 |
1,725 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
575 |
|
At 31 March 2015 |
1,150 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Bank loans and overdrafts |
354 |
|
- |
|
Trade creditors |
250 |
|
250 |
|
Corporation tax |
4,855 |
|
4,796 |
|
Other creditors |
1,791 |
|
4,881 |
|
|
|
|
|
|
7,250 |
|
9,927 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Provisions for liabilities |
|
Deferred taxation: |
2016 |
|
2015 |
| £ |
£ |
|
|
Accelerated capital allowances |
- |
|
230 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
2015 |
| £ |
£ |
|
|
At 1 April |
230 |
|
- |
|
Deferred tax charge in profit and loss account |
(230) |
|
230 |
|
|
At 31 March |
- |
|
230 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
| Nominal |
Number |
Amount |
| value |
£ |
|
Shares issued during the period: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
| 9 |
Profit and loss account |
2016 |
| £ |
|
|
At 1 April 2015 |
146 |
|
Profit for the year |
18,079 |
|
Dividends |
(18,000) |
|
|
At 31 March 2016 |
225 |
|
|
|
|
|
|
|
|
| 10 |
Dividends |
2016 |
|
2015 |
| £ |
£ |
|
|
Dividends for which the company became liable during the year: |
|
Dividends paid |
18,000 |
|
16,400 |
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Related party transactions |
2016 |
|
2015 |
| £ |
£ |
|
P T Webster |
|
Director |
|
Dividends received and directors' loan |
|
Amount due from the company to the director |
913 |
|
2,489 |
|
Dividends paid to the director |
9,180 |
|
8,364 |
|
A Webster |
|
Director |
|
Dividends received and directors' loan |
|
Amount due from the company to the director |
878 |
|
2,392 |
|
Dividends paid to the director |
8,820 |
|
8,036 |
|
|
| 12 |
Ultimate controlling party |
|
|
During the period ending 31 March 2016, P T Webster, director and his wife, Mrs A Webster, director, controlled the company by virtue of a controlling interest of 100% of the issued ordinary share capital. Mr Webster has a controlling interest of 51% and Mrs Webster 49%. |
