Wallace Crooke (Walsall) Limited - Abbreviated accounts 16.1

Wallace Crooke (Walsall) Limited - Abbreviated accounts 16.1

WALLACE CROOKE (WALSALL) LIMITED - Company Information

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REGISTERED NUMBER: 08017342 (England and Wales)















WALLACE CROOKE (WALSALL) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016





Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT








WALLACE CROOKE (WALSALL) LIMITED (REGISTERED NUMBER: 08017342)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 MARCH 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

WALLACE CROOKE (WALSALL) LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2016







DIRECTORS: Mr R A Smallwood
Mr M P H Jones





REGISTERED OFFICE: Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT





REGISTERED NUMBER: 08017342 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT
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WALLACE CROOKE (WALSALL) LIMITED (REGISTERED NUMBER: 08017342)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 358,000 430,000
Tangible assets 3 7,103 2,451
365,103 432,451

CURRENT ASSETS
Stocks 102,472 95,972
Debtors 92,525 145,686
Cash at bank and in hand 3,168 8,400
198,165 250,058
CREDITORS
Amounts falling due within one year 559,415 676,534
NET CURRENT LIABILITIES (361,250 ) (426,476 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,853
5,975

CAPITAL AND RESERVES
Called up share capital 4 202 202
Profit and loss account 3,651 5,773
SHAREHOLDERS' FUNDS 3,853 5,975

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 20 December 2016 and were signed on
its behalf by:




Mr R A Smallwood - Director


The notes form part of these abbreviated accounts

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WALLACE CROOKE (WALSALL) LIMITED (REGISTERED NUMBER: 08017342)

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 represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of nine years.

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


Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 540,000
AMORTISATION
At 1 April 2015 110,000
Amortisation for year 72,000
At 31 March 2016 182,000
NET BOOK VALUE

At 31 March 2016 358,000
At 31 March 2015 430,000

-3- continued...
WALLACE CROOKE (WALSALL) LIMITED (REGISTERED NUMBER: 08017342)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 MARCH 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 3,183
Additions 6,611
At 31 March 2016 9,794
DEPRECIATION
At 1 April 2015 732
Charge for year 1,959
At 31 March 2016 2,691
NET BOOK VALUE
At 31 March 2016 7,103
At 31 March 2015 2,451

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary 1 100 100
102 Ordinary B 1 102 102
202 202

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