Bailey Wilson Limited - Abbreviated accounts 16.3

Bailey Wilson Limited - Abbreviated accounts 16.3

BAILEY WILSON LIMITED - Company Information

Print Friendly Version

07643360 1.4.15 31.3.16 31.3.16 Company accounts Private Limited Company FY true false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure076433602015-03-31076433602016-03-31076433602015-04-012016-03-31076433602014-03-31076433602014-04-012015-03-31076433602015-03-3107643360ns12:England2015-04-012016-03-3107643360ns14:PoundSterling2015-04-012016-03-3107643360ns7:Director12015-04-012016-03-3107643360ns7:OrdinaryShareClass12015-04-012016-03-3107643360ns5:FixturesFittings2015-04-012016-03-3107643360ns5:MotorVehicles2015-04-012016-03-3107643360ns5:ComputerEquipment2015-04-012016-03-3107643360ns7:OrdinaryShareClass12016-03-3107643360ns7:OrdinaryShareClass12015-03-31
REGISTERED NUMBER: 07643360 (England and Wales)














Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Bailey Wilson Limited

Bailey Wilson Limited (Registered number: 07643360)






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2016




Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

Bailey Wilson Limited (Registered number: 07643360)

Abbreviated Balance Sheet
31 March 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 51,667 61,667
Tangible assets 3 19,937 435
71,604 62,102

CURRENT ASSETS
Stocks 15,000 -
Debtors 40,537 22,391
Cash at bank and in hand 98,679 132,308
154,216 154,699
CREDITORS
Amounts falling due within one year 58,878 46,698
NET CURRENT ASSETS 95,338 108,001
TOTAL ASSETS LESS CURRENT LIABILITIES 166,942 170,103

PROVISIONS FOR LIABILITIES 3,987 87
NET ASSETS 162,955 170,016

CAPITAL AND RESERVES
Called up share capital 4 1 1
Profit and loss account 162,954 170,015
SHAREHOLDERS' FUNDS 162,955 170,016

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 director acknowledges his 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 1 continued...
Bailey Wilson Limited (Registered number: 07643360)

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 director on 20 December 2016 and were signed by:





Mr D M Bailey - Director


The notes form part of these abbreviated accounts

Page 2
Bailey Wilson Limited (Registered number: 07643360)

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 services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore,
turnover also includes the element of work completed but not yet invoiced.

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.

Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's
pension scheme are charged to the profit and loss account in the period to which they relate.

Page 3 continued...
Bailey Wilson Limited (Registered number: 07643360)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2016

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 100,000
AMORTISATION
At 1 April 2015 38,333
Amortisation for year 10,000
At 31 March 2016 48,333
NET BOOK VALUE

At 31 March 2016 51,667
At 31 March 2015 61,667

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 1,370
Additions 26,181
At 31 March 2016 27,551
DEPRECIATION
At 1 April 2015 935
Charge for year 6,679
At 31 March 2016 7,614
NET BOOK VALUE
At 31 March 2016 19,937
At 31 March 2015 435

4. CALLED UP SHARE CAPITAL

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

Page 4