Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

WHEELSBROOK SERVICES LIMITED - Company Information

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WHEELSBROOK SERVICES LIMITED

Company Registration Number:
06650650 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

WHEELSBROOK SERVICES LIMITED

Abbreviated Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 2 18,750 31,250
Tangible assets: 3 5,200 8,425
Total fixed assets: 23,950 39,675
Current assets
Stocks: 60,227 42,040
Debtors: 4 110,838 96,689
Total current assets: 171,065 138,729
Creditors: amounts falling due within one year: 5 ( 175,486 ) ( 146,247 )
Net current assets (liabilities): ( 4,421 ) ( 7,518 )
Total assets less current liabilities: 19,529 32,157
Creditors: amounts falling due after more than one year: 6 ( 20,000 )
Total net assets (liabilities): 19,529 12,157

The notes form part of these financial statements

WHEELSBROOK SERVICES LIMITED

Balance sheet continued

As at 31 March 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 7 100 100
Profit and loss account: 19,429 12,057
Shareholders funds: 19,529 12,157

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 20 December 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Nigel Turner
Status: Director

The notes form part of these financial statements

WHEELSBROOK SERVICES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention in accordance with the Financial Reporting Standard for Smaller Entities.

    Turnover policy

    Turnover represents the sales of goods and services (excluding value added tax). Turnover is recognised when goods or services are physically delivered to the customer.

    Tangible fixed assets depreciation policy

    Depreciation has been provided to write off tangible fixed assets over their estimated useful economic lives at the following rates:

    Vehicles - 25% of cost

    Intangible fixed assets amortisation policy

    Purchased goodwill (representing the excess of the fair value of the consideration given over the fair value of the separable net assets acquired) arising on business combinations is capitalised. Positive goodwill is amortised to nil by equal annual instalments over its estimated useful life.

    Other accounting policies

    Stocks
    Stock is valued at the lower of cost and estimated net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
    Debtors
    Provision is made for debts where recovery is considered doubtful

    Taxation
    The charge for taxation is based on the profit for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. 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.

WHEELSBROOK SERVICES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 2. Intangible assets

    Total
    Cost £
    01 April 2015: 50,000
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 March 2016: 50,000
    Amortisation
    01 April 2015: 18,750
    Provided during the period: 12,500
    On disposals: 0
    Other Adjustments: 0
    31 March 2016: 31,250
    Net book value
    31 March 2016: 18,750
    31 March 2015: 31,250

WHEELSBROOK SERVICES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 3. Tangible assets

    Total
    Cost £
    01 April 2015: 12,900
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 March 2016: 12,900
    Depreciation
    01 April 2015: 4,475
    Charge for year: 3,225
    On disposals: 0
    Other adjustments: 0
    31 March 2016: 7,700
    Net book value
    31 March 2016: 5,200
    31 March 2015: 8,425

WHEELSBROOK SERVICES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 4. Debtors


    2016
    £
    2015
    £
    Trade debtors: 110,143 96,258
    Other debtors: 695 431
    Total: 110,838 96,689

WHEELSBROOK SERVICES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 5. Creditors: amounts falling due within one year


    2016
    £
    2015
    £
    Bank loans and overdrafts: 37,492 4,813
    Trade creditors: 106,021 105,254
    Taxation and social security: 11,973 16,180
    Other creditors: 20,000 20,000
    Total: 175,486 146,247

WHEELSBROOK SERVICES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 6. Creditors: amounts falling due after more than one year


    2016
    £
    2015
    £
    Other creditors: 0 20,000
    Total: 0 20,000

WHEELSBROOK SERVICES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 7. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100

WHEELSBROOK SERVICES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 8. Related party disclosures

    Name of the ultimate controlling party during the period: The company is controlled by the Directors
    Name of related party: Turner Brothers (Huddersfield)
    Relationship: A company controlled by 2 of the Directors
    Description of the transaction Sales of products
    Balance at 01 April 2015 12,209
    Balance at 31 March 2016 34,223

    Additional information

    During the year the company sold goods to Turner Brothers Huddersfield Limited totalling £196,218 (2015:£98,532).