Company Registration No. 08000685 (England and Wales)
WM SERVICES ENGINEERING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
WM SERVICES ENGINEERING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
WM SERVICES ENGINEERING LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
17,500
20,000
Tangible assets
2
827
1,102
18,327
21,102
Current assets
Debtors
21,233
12,400
Cash at bank and in hand
768
2,397
22,001
14,797
Creditors: amounts falling due within one year
(32,916)
(28,219)
Net current liabilities
(10,915)
(13,422)
Total assets less current liabilities
7,412
7,680
Capital and reserves
Called up share capital
3
5
5
Profit and loss account
7,407
7,675
Shareholders' funds
7,412
7,680
For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 14 November 2016
D J Webster
I Webster
Director
Director
Company Registration No. 08000685
WM SERVICES ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing Balance
Fixtures, fittings & equipment
25% Reducing Balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2015 & at 31 May 2016
25,000
2,614
27,614
Depreciation
At 1 June 2015
5,000
1,512
6,512
Charge for the year
2,500
275
2,775
At 31 May 2016
7,500
1,787
9,287
Net book value
At 31 May 2016
17,500
827
18,327
At 31 May 2015
20,000
1,102
21,102
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
5 Ordinary shares of £1 each
5
5
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