WHR Vending Limited - Period Ending 2016-03-31

Registration number: 04706438

WHR Vending Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

WHR Vending Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

WHR Vending Limited
(Registration number: 04706438)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			7,538			13,724
Current assets
Stocks					14,988			18,250
Debtors					16,837			27,172
Cash at bank and in hand					-			1,331
					31,825			46,753
Creditors: Amounts falling due within one year					(20,790)			(27,465)
Net current assets					11,035			19,288
Total assets less current liabilities					18,573			33,012
Creditors: Amounts falling due after more than one year					(54,414)			(67,294)
Net liabilities					(35,841)			(34,282)
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					(35,941)			(34,382)
Shareholders' deficit					(35,841)			(34,282)

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 .

Approved by the Board on 22 December 2016 and signed on its behalf by:

GC Robinson
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

WHR Vending Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents the retail value of goods sold, net of value added tax.

Goodwill

Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows.

Asset class	Amortisation method and rate
Goodwill	20% straight line per annum

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Property improvement	10% straight line per annum
Vending machines	30% reducing balance
Motor vehicles	25% reducing balance
Furniture and other equipment	20% reducing balance
Computer equipment	50% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rate effective at the balance sheet date.

Page 2

WHR Vending Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		173,250			305,122			478,372
At 31 March 2016		173,250			305,122			478,372
Amortisation/depreciation
At 1 April 2015		173,250			291,398			464,648
Charge for the year		-			6,186			6,186
At 31 March 2016		173,250			297,584			470,834
Net book value
At 31 March 2016		-			7,538			7,538
At 31 March 2015		-			13,724			13,724

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		-			9,555

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
100 Ordinary shares of £1 each		100			100			100			100

5

Control

The company is controlled by the directors who with their wives own 100% of the called up share capital.

Page 3