Wortley Construction Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01048904

WORTLEY CONSTRUCTION LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K T Addy

N J Addy

Mrs Y C Addy

REGISTERED OFFICE:

Unit 1 Wortley Court

Fall Bank Industrial Estate

Dodworth

Barnsley

South Yorkshire

S75 3LS

REGISTERED NUMBER:

01048904

ACCOUNTANTS:

DTE Business Advisers Limited

Chartered Accountants

The Exchange

5 Bank Street

Bury

BL9 0DN

SOLICITORS:

Bury & Walkers Solicitors

Britannic House

Regent Street

Barnsley

S70 2EQ

FIXED ASSETS

Tangible assets

2

29,625

38,326

Investments

3

10,021

39,646

48,347

CURRENT ASSETS

Stocks

965,116

1,700,089

Debtors

530,079

433,502

Cash at bank

1,255,231

723,644

2,750,426

2,857,235

CREDITORS

Amounts falling due within one year

(606,090

)

(869,784

)

NET CURRENT ASSETS

2,144,336

1,987,451

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,183,982

2,035,798

CAPITAL AND RESERVES

Called up share capital

4

2,500

Profit and loss account

2,181,482

2,033,298

SHAREHOLDERS' FUNDS

2,183,982

2,035,798

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 19 December 2016 and were signed on its behalf
by:

N J Addy - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Joint projects (j.p)

Income, expenditure, assets and liabilities relative to the company's involvement in various joint projects with

Jaguar Estates Limited and Jaguar Retirement Homes Limited have been included in the accounts to the extent of

50% being the company's share in the underlying activities of the various joint projects.

Revenue

Revenue represents monies receivable from the sale of land and properties completed in the year under review.

Revenue is recognised at legal completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stock and work in progress, representing land and buildings held for development and resale, are stated at cost

(including the cost of any improvements), unless it is considered that the net realisable value of the stock and

work in progress is less than cost, in which case the value has been adjusted downwards to reflect the net

realisable value. Cost is actual purchase price.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the

balance sheet date. Provision is made for deferred tax on gains on revalued assets only when a binding

commitment to dispose of the asset exists at the year end, at the rate of tax currently enacted under UK law.

Deferred tax assets are only recognised to the extent that they are regarded as recoverable. Unrelieved losses are

recognised only if there is other persuasive and reliable evidence suggesting that suitable taxable profits will be

generated in the future.

Fixed asset investments

Fixed asset investments are included at historic cost less provisions for any permanent diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

81,546

Additions

1,082

At 31 March 2016

82,628

DEPRECIATION

At 1 April 2015

43,220

Charge for year

9,783

At 31 March 2016

53,003

NET BOOK VALUE

At 31 March 2016

29,625

At 31 March 2015

38,326

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

1,460

Disposals

(1,460

)

At 31 March 2016

-

PROVISIONS

At 1 April 2015

1,460

Eliminated on disposal

(1,460

)

At 31 March 2016

-

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

Loans

£

At 1 April 2015

and 31 March 2016

10,021

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2,500

Ordinary

£1

2,500