Wade & Davies Limited - Abbreviated accounts 16.3

Wade & Davies Limited - Abbreviated accounts 16.3

WADE & DAVIES LIMITED - Company Information

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REGISTERED NUMBER: 07552120 (England and Wales)











ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

31 MARCH 2016

FOR

WADE & DAVIES LIMITED

WADE & DAVIES LIMITED (REGISTERED NUMBER: 07552120)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016




Page

Company Information 1

Chartered Certified Accountants' Report 2

Abbreviated Balance Sheet 3

Notes to the Abbreviated Accounts 5

WADE & DAVIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2016







DIRECTORS: Michael R Chapman
Rhonda L Fuller





SECRETARY: Rhonda L Fuller





REGISTERED OFFICE: 28 High Street
Great Dunmow
Essex
CM6 1AH





REGISTERED NUMBER: 07552120 (England and Wales)





ACCOUNTANTS: Benten & Co
Chartered Certified Accountants
Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF
Page 1
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WADE & DAVIES LIMITED

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 six) 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 Wade & Davies 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 Wade & Davies 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 Wade & Davies Limited and state those matters that we have agreed to state to the Board of Directors of Wade & Davies 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 Wade & Davies 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 loss of Wade & Davies Limited. You consider that Wade & Davies 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 Wade & Davies 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


16 December 2016

This page does not form part of the abbreviated accounts

Page 2
WADE & DAVIES LIMITED (REGISTERED NUMBER: 07552120)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 13,540 16,000
Tangible assets 3 943 1,257
14,483 17,257

CURRENT ASSETS
Debtors 50,071 54,977
Cash at bank and in hand 20,086 12,098
70,157 67,075
CREDITORS
Amounts falling due within one year 77,619 69,963
NET CURRENT LIABILITIES (7,462 ) (2,888 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
7,021
14,369

PROVISIONS FOR LIABILITIES 86 114
NET ASSETS 6,935 14,255

CAPITAL AND RESERVES
Called up share capital 4 1,000 1,000
Profit and loss account 5,935 13,255
SHAREHOLDERS' FUNDS 6,935 14,255

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 notes form part of these abbreviated accounts

Page 3 continued...
WADE & DAVIES LIMITED (REGISTERED NUMBER: 07552120)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2016


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:





Michael R Chapman - Director


The notes form part of these abbreviated accounts

Page 4
WADE & DAVIES LIMITED (REGISTERED NUMBER: 07552120)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016

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 services supplied by the company, net of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, 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.

Furniture, books and equipment - 25% on reducing balance

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 20,000
AMORTISATION
At 1 April 2015 4,000
Amortisation for year 2,460
At 31 March 2016 6,460
NET BOOK VALUE

At 31 March 2016 13,540
At 31 March 2015 16,000

Page 5 continued...
WADE & DAVIES LIMITED (REGISTERED NUMBER: 07552120)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 3,018
DEPRECIATION
At 1 April 2015 1,761
Charge for year 314
At 31 March 2016 2,075
NET BOOK VALUE
At 31 March 2016 943
At 31 March 2015 1,257

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
1,000 Ordinary £1 1,000 1,000

5. ULTIMATE CONTROLLING PARTY

The controlling party is Michael R Chapman by virtue of his ownership of 99.9% of the issued share
capital of the company

6. CLIENT MONIES

The amounts held by the company on behalf of clients in client designated accounts totalling
£1,304,179 (2015 £921,410 ) have not been included in the company balance sheet.

Page 6