W.B.Gatward & Son Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00449862 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

31 MARCH 2016

FOR

W.B.GATWARD & SON LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

Mrs A B Playle

Mrs L M Pheazey

J W Hunter

SECRETARY:

Mrs L M Pheazey

REGISTERED OFFICE:

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

REGISTERED NUMBER:

00449862 (England and Wales)

ACCOUNTANTS:

Benten & Co

Chartered Certified Accountants

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to

seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of W.B.Gatward & Son Limited for the year ended 31 March 2016 which comprise 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of W.B.Gatward & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W.B.Gatward & Son Limited and state those matters that we have agreed to state to the Board of Directors of W.B.Gatward & Son Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that W.B.Gatward & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W.B.Gatward & Son Limited. You consider that W.B.Gatward & Son 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 financial statements of W.B.Gatward & Son 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 financial statements.

Benten & Co

Chartered Certified Accountants

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

8 December 2016

FIXED ASSETS

Tangible assets

2

34,803

25,943

Investments

3

1

1

34,804

25,944

CURRENT ASSETS

Stocks

541,000

556,859

Debtors

15,805

14,285

Cash in hand

140

140

556,945

571,284

CREDITORS

Amounts falling due within one year

195,181

232,080

NET CURRENT ASSETS

361,764

339,204

TOTAL ASSETS LESS CURRENT LIABILITIES

396,568

365,148

CREDITORS

Amounts falling due after more than one year

(16,643

)

(16,864

)

PROVISIONS FOR LIABILITIES

(531

)

-

NET ASSETS

379,394

348,284

CAPITAL AND RESERVES

Called up share capital

4

273,000

273,000

Profit and loss account

106,394

75,284

SHAREHOLDERS' FUNDS

379,394

348,284

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 7 December 2016 and were signed on its behalf by:

Mrs A B Playle - Director

Mrs L M Pheazey - 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 comprises the value of goods and services supplied by the company, net of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

5% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

199,522

Additions

26,640

Disposals

(22,304

)

At 31 March 2016

203,858

DEPRECIATION

At 1 April 2015

173,579

Charge for year

17,781

Eliminated on disposal

(22,305

)

At 31 March 2016

169,055

NET BOOK VALUE

At 31 March 2016

34,803

At 31 March 2015

25,943

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

1

NET BOOK VALUE

At 31 March 2016

1

At 31 March 2015

1

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

270,000

Ordinary

£1

270,000

270,000

3,000

3.5% Cumulative Preference

£1

3,000

3,000

273,000

273,000

5.	RELATED PARTY DISCLOSURES

6.	ULTIMATE CONTROLLING PARTY